The Journey To Buy a Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 7, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights When you head out to buy a home, there are a number of key milestones you’ll encounter along the way. The process includes everything from building your team and understanding your finances to going house hunting, making an offer, and more. Your journey starts here. Let’s connect so you have expert guidance each step of the way. Content previously posted on Keeping Current Matters

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Two Questions Every Homebuyer Should Ask Themselves Right Now

Written by Marathon Florida Keys Mortgage on October 6, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Rising interest rates have begun to slow an overheated housing market as monthly mortgage payments have risen dramatically since the beginning of the year. This is leaving some people who want to purchase a home priced out of the market and others wondering if now is the time to buy one. But this rise in borrowing cost shows no signs of letting up soon. Economic uncertainty and the volatility of the financial markets are causing mortgage rates to rise. George Ratiu, Senior Economist and Manager of Economic Research at realtor.com, says this: “While even two months ago rates above 7% may have...

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The Long-Term Benefit of Homeownership

Written by Marathon Florida Keys Mortgage on October 5, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Today’s cooling housing market, the rise in mortgage rates, and mounting economic concerns have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to factor the long-term benefits of homeownership into your decision. Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how you gain equity and wealth as home values grow with time. The National Association...

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The Cost of Waiting for Mortgage Rates To Go Down

Written by Marathon Florida Keys Mortgage on October 4, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home. Here’s some information that can help you make an informed decision when you set your homebuying plans. The Impact of Rising Mortgage Rates As mortgage rates rise, they impact your purchasing power by raising the cost of buying a home and limiting how much you can comfortably afford. Here’s how it works. Let’s assume you want to buy a $400,000 home (the median-priced home according to the National Association of Realtors is $389,500)....

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Why Buying a Home May Make More Sense Than Renting [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 30, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Some Highlights If you’re trying to decide whether to rent or buy a home, consider the advantages homeownership offers. Buying a home can help you escape the cycle of rising rents, it’s a powerful wealth-building tool, and it’s typically considered a good hedge against inflation. If you’re ready to take advantage of the benefits of homeownership, let’s connect to explore your options. Content previously posted on Keeping Current Matters

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Why You Should Consider Condos as Part of Your Home Search

Written by Marathon Florida Keys Mortgage on September 28, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The historically low inventory over the past few years led to challenges for many buyers trying to find a home that met their needs and their budget. If you’re in the same boat, you should know the recent shift in the housing market may have opened up doors for you to restart your search. The inventory of homes for sale has increased this year, and that’s giving buyers much needed options. As Danielle Hale, Chief Economist at realtor.com, says: “. . . today’s shoppers have more than 5 homes to consider for every 4 they had at this time a year ago.” But perspective is important. Overall,...

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How an Expert Can Help You Understand Inflation & Mortgage Rates

Written by Marathon Florida Keys Mortgage on September 27, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re following today’s housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let’s take a look at each one. Inflation and the Housing Market This year, inflation reached a high not seen in forty years. For the average consumer, you probably felt the pinch at the gas pump and in the grocery store. It may have even impacted your ability to save money to buy a home. While the Federal Reserve is working hard to lower inflation, the August data shows the inflation rate was still higher than expected. This news impacted the stock market and fueled conversations...

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The True Strength of Homeowners Today

Written by Marathon Florida Keys Mortgage on September 26, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The real estate market is on just about everyone’s mind these days. That’s because the unsustainable market of the past two years is behind us, and the difference is being felt. The question now is, just how financially strong are homeowners throughout the country? Mortgage debt grew beyond 10 trillion dollars over the past year, and many called that a troubling sign when it happened for the first time in history. Recently Odeta Kushi, Deputy Chief Economist at First American, answered that question when she said: “U.S. households own $41 trillion in owner-occupied real estate, just over...

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What Experts Say Will Happen with Home Prices Next Year

Written by Marathon Florida Keys Mortgage on September 22, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Experts are starting to make their 2023 home price forecasts. As they do, most agree homes will continue to gain value, just at a slower pace. Over the past couple of years, home prices have risen at an unsustainable rate, leaving many to wonder how long it would last. If you’re asking yourself: what’s ahead for the price of my home, know that experts are now answering this question, and its welcome news for homeowners who may have been led by the media to believe their home would lose value. Historically, home prices have appreciated at a rate near 4%. For 2023, the average of six major forecasters...

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Watching the Stock Market? Check the Value of Your Home for Good News.

Written by Marathon Florida Keys Mortgage on September 20, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

While watching the stock market recently may have started to feel pretty challenging, checking the value of your home should come as welcome relief in this volatile time. If you’re a homeowner, your net worth got a big boost over the past few years thanks to rising home prices. And that increase in your wealth came in the form of home equity. Here’s how it works. Equity is the current value of your home minus what you owe on the loan. Because there was a significant imbalance between the number of homes available for sale and the number of buyers looking to make a purchase over the past few...

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A Crucial First Step: Mortgage Pre-Approval [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 16, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow. Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and helps sellers know your offer is serious. Connect with a trusted professional to learn more and start your homebuying process today. Content previously posted on Keeping Current Matters

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Buyers Are Regaining Some of Their Negotiation Power in Today’s Housing Market

Written by Marathon Florida Keys Mortgage on September 15, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re thinking about buying a home today, there’s welcome news. Even though it’s still a sellers’ market, it’s a more moderate sellers’ market than last year. And the days of feeling like you may need to waive contingencies or pay drastically over asking price to get your offer considered may be coming to a close. Today, you should have less competition and more negotiating power as a buyer. That’s because the intensity of buyer demand and bidding wars is easing this year. So, if bidding wars were the biggest factor that had you sitting on the sidelines, here are two trends that may be...

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Is the Real Estate Market Slowing Down, or Is This a Housing Bubble?

Written by Marathon Florida Keys Mortgage on September 14, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The talk of a housing bubble in the coming year seems to be at a fever pitch as rising mortgage rates continue to slow down an overheated real estate market. Over the past two years, home prices have appreciated at an unsustainable pace causing many to ask: are things just slowing down, or is a crash coming? To answer this question, there are two things we want to understand. The first is the reality of the shift in today’s housing market. And the second is what experts are saying about home prices in the coming year. The Reality of the Shift in Today’s Housing Market The reality is we’re...

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Three Things Buyers Can Do in Today’s Housing Market

Written by Marathon Florida Keys Mortgage on September 13, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

It’s clear the 2022 housing market has been defined by rising mortgage rates. With rates on the rise, it’s also become more costly to purchase a home. According to the National Association of Realtors (NAR): “Compared to one year ago, the monthly mortgage payment rose to $1,944 from $1,265, an increase of 53.7%.” If you’re thinking of buying a home or have been trying to recently, that’s a big increase in a monthly mortgage payment – and it may be causing you to press pause on your plans. This jump is making homes less affordable, especially compared to the last two years when mortgage rates...

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Why It’s So Important To Hire a Pro [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 9, 2022. Posted in For Buyers, For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re thinking of buying or selling a home, you’ll want a trusted real estate professional on your side for their industry experience and expert insights. The right advisor utilizes the latest technology and can help you navigate today’s home pricing and market values, the contracts and fine print, and the negotiations you’ll face. Let’s connect so you have expert advice each step of the way. Content previously posted on Keeping Current Matters

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How Owning a Home Builds Your Net Worth

Written by Marathon Florida Keys Mortgage on September 6, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Owning a home is a major financial milestone and an achievement to take pride in. One major reason: the equity you build as a homeowner gives your net worth a big boost. And with high inflation right now, the link between owning your home and building your wealth is especially important. If you’re looking to increase your financial security, here’s why now could be a good time to start on your journey toward homeownership. Owning a Home Is a Key Ingredient for Financial Success A report from the National Association of Realtors (NAR) details several homeownership trends, including a significant...

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New Homes May Have the Incentives You’re Looking for Today

Written by Marathon Florida Keys Mortgage on September 1, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, New Construction.

According to the U.S. Census Bureau, this year, builders are on pace to complete more than a million new homes in this country. If you’ve had trouble finding a home to buy over the past year, it may be time to work with your trusted agent to consider a new build and the incentives that come with it. Here’s why. The Supply of Newly Built Homes Is Rising When looking for a home, you can choose between existing homes (those that are already built and previously owned) and newly constructed ones. While the inventory of existing homes is on the rise today, it’s still in tight supply, meaning it...

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Buyers: You May Face Less Competition as Bidding Wars Ease

Written by Marathon Florida Keys Mortgage on August 31, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

One of the top stories in recent real estate headlines was the intensity and frequency of bidding wars. With so many buyers looking to purchase a home and so few of them available for sale, fiercely competitive bidding wars became the norm during the pandemic – and it drove home prices up. If you tried to buy a house over the past two years, you probably experienced this firsthand and may have been outbid on several homes along the way. But here’s the news you’ve been waiting for: data shows clear signs bidding wars are easing this year. According to the National Association of Realtors (NAR),...

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What’s Actually Happening with Home Prices Today?

Written by Marathon Florida Keys Mortgage on August 30, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

One of the biggest questions people are asking right now is: what’s happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture. Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let’s break down the differences among those terms to help clarify what’s actually happening today. Appreciation is when home prices increase. Depreciation is when home prices...

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A Trusted Real Estate Advisor Provides Expert Advice

Written by Marathon Florida Keys Mortgage on August 29, 2022. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re a homeowner or are planning to become one soon, you’re probably looking for clear information about today’s housing market. And if you’ve turned to the news or even just read headlines recently, you might feel like you’re left with more questions than answers. The best way to make sure you get what you need is to work with an expert. Why You Want To Lean on a Trusted Professional With any big milestone in life, it’s wise to seek advice from people who are experts in their field. While you likely want that advice to be perfect, perfect simply isn’t possible. But professionals have...

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What Would a Recession Mean for the Housing Market? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on August 27, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re wondering what a potential recession could mean for the housing market, here’s what history tells us. In four of the last six recessions, home prices actually appreciated, only falling during the early 90s and the housing crash in 2008. Mortgage rates, though, declined during each of the previous recessions. If you have questions about buying or selling a home in today’s market, let’s connect. Content previously posted on Keeping Current Matters

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What Does a Recession Mean for the Housing Market? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on August 26, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

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Category: For Buyers