Reasons To Hire a Real Estate Professional [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on November 26, 2021. Posted in For Buyers, For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Whether you’re buying or selling, there are many perks that come from working with a real estate advisor. Real estate professionals are experts at navigating all aspects of the buying and selling process, including negotiating on your behalf. We can also explain today’s market and break down what it means for you. Don’t go at it alone. Let’s connect today so you have advice and an expert to count on each step of the way. Content previously posted on Keeping Current Matters

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How Smart Buyers Are Approaching Rising Mortgage Rates

Written by Marathon Florida Keys Mortgage on November 24, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022: “The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.” If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. Taking Time Off Can Be Costly Mortgage rates play a significant role in your home search. As rates go up, your monthly...

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Don’t Believe Everything You Read: The Truth Many Headlines Overlook

Written by Marathon Florida Keys Mortgage on November 23, 2021. Posted in Distressed Properties, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise. With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we’ll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year. There are already alarmist headlines starting...

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Your Journey to Homeownership [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on November 19, 2021. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights When it comes to buying a home, there are a number of key milestones along the way. The process includes everything from building your team and understanding your finances to going house hunting, making an offer, and more. When you’re ready to start your journey, let’s connect so you have trusted guidance at every milestone in the process. Content previously posted on Keeping Current Matters

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Home Sales About To Surge? We May See a Winter Like Never Before.

Written by Marathon Florida Keys Mortgage on November 18, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Like most industries, residential real estate has a seasonality to it. For example, toy stores sell more toys in October, November, and December than they do in any other three-month span throughout the year. More cars are sold in the U.S. during the second quarter (April, May, and June) than in any other quarter of the year. Real estate is very similar. The number of homes sold in the spring is almost always much greater than at any other time of the year. It’s even labeled as the spring buying season. Historically, the number of buyers and listings for sale significantly increase in the...

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Retirement May Be Changing What You Need in a Home

Written by Marathon Florida Keys Mortgage on November 17, 2021. Posted in Baby Boomers, Demographics, For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Senior Market.

The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the Schwartz Center for Economic Policy Analysis, 2021 saw a retirement boom: “At least 1.7 million more older workers than expected retired due to the pandemic recession.” If you’ve recently retired, your home may not fit your new lifestyle. The good news is, you’ve likely built-up significant equity that can fuel your next move. According to the latest Homeowner Equity...

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4 Things Every Renter Needs To Consider

Written by Marathon Florida Keys Mortgage on November 15, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

As a renter, you’re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider. Here are a few things you should think about before you settle on renting for another year. 1. Rents Are Rising Quickly Rent increasing each year isn’t new. Looking back at Census data confirms rental prices have gone up consistently for decades (see graph below):If you’re a renter, you’re faced with payments that continue to climb each...

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VA Loans: Helping Veterans Achieve Their Homeownership Dreams

Written by Marathon Florida Keys Mortgage on November 11, 2021. Posted in Buying Myths, Down Payments, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Time-sensitive.

The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration says of the program: “The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service. . . .” For over 75 years, VA home loans have provided millions of veterans and their families the opportunity to purchase their own homes. 2020 Data on VA...

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What’s Happening with Home Prices?

Written by Marathon Florida Keys Mortgage on November 10, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Here’s a look at the answers to all three of these questions. How much have home values appreciated over the last 12 months? According to the latest Home Price Index from CoreLogic, home values have increased by 18.1% compared to this time last year. Additionally, prices have gone up at an accelerated pace for each of the last eight months (see graph below):The increase in the rate of appreciation that’s shown...

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Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates

Written by Marathon Florida Keys Mortgage on November 8, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn’t going away any time soon. But as a homebuyer, what do rates above 3% really mean? Today’s Average Mortgage Rate Still Presents Buyers with a Great Opportunity Buyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But it’s important to put today’s average mortgage rate into perspective....

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Experts Project Mortgage Rates Will Continue To Rise in 2022

Written by Marathon Florida Keys Mortgage on November 3, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Mortgage rates are one of several factors that impact how much you can afford if you’re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they’ve hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. This past week, the average 30-year fixed rate was 3.14%. What does this mean if you’re thinking about making a move? Waiting until next year will cost you more in the long run. Here’s a look at what several experts project for mortgage...

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Renters Missed Out on $51,500 This Past Year

Written by Marathon Florida Keys Mortgage on November 1, 2021. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Rent vs. Buy.

Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic: “Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.” Looking back, we can see rents rising isn’t new. The median rental price has increased consistently over the past 33 years (see graph below):If you’re thinking of renting...

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The Mortgage Process Doesn’t Have To Be Scary [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 29, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights Applying for a mortgage is a big step towards homeownership, but it doesn’t need to be one you fear. Here are some tips to help you prepare. Know your credit score and work to build strong credit. When you’re ready, lean on your agent to connect you with a lender so you can get pre-approved and begin your home search. Any major life change can be scary, and buying a home is no different. Let’s connect so you have an advisor by your side to take the fear out of the equation. Content previously posted on Keeping Current Matters

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There Are More Homes Available Now than There Were This Spring

Written by Marathon Florida Keys Mortgage on October 26, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

There’s a lot of talk lately about how challenging it can be to find a home to buy. While housing inventory is still low, there are a few important things to understand about the supply of homes for sale as we move into the end of the year. The Number of Homes for Sale Usually Peaks in the Fall In the residential real estate market, trends generally follow a predictable and seasonal pattern. Typically, the number of homes available for sale (or active monthly listings) peaks in the fall. But in a chapter where so little feels normal, the question becomes: should we expect a fall peak this...

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Knowledge Is Power When It Comes to Appraisals and Inspections

Written by Marathon Florida Keys Mortgage on October 25, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. But is that the best move? Buying a home is one of the most important transactions in your lifetime, and it’s critical to keep your best interests in mind. Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money,...

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Important Distinction: Homes Are Less Affordable, Not Unaffordable

Written by Marathon Florida Keys Mortgage on October 21, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been. Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here’s what the report...

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Looking To Move? It Could Be Time To Build Your Dream Home.

Written by Marathon Florida Keys Mortgage on October 20, 2021. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, New Construction.

While today’s supply of homes for sale is still low, the number of newly built homes is increasing. If you’re ready to sell but have held off because you weren’t sure you’d be able to find a home to move into, newly built homes and those under construction can provide the options you’ve been waiting for. The latest Census data shows the inventory of new homes is increasing this year (see graph below):With more new homes coming to the market, this means you’ll have more options to choose from if you’re ready to buy. Of course, if you do consider a newly built home, you’ll want to keep timing...

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What Does the Future Hold for Home Prices?

Written by Marathon Florida Keys Mortgage on October 19, 2021. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Selling Myths.

If you’re looking to buy or sell a house, chances are you’ve heard talk about today’s rising home prices. And while this increase in home values is great news for sellers, you may be wondering what the future holds. Will prices continue to rise with time, or should you expect them to fall? To answer that question, let’s first understand a few terms you may be hearing right now. Appreciation is an increase in the value of an asset. Depreciation is a decrease in the value of an asset. Deceleration is when something happens at a slower pace. It’s important to note home prices have increased,...

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Homebuyer Tips for Finding the One [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 15, 2021. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights The best advice carries across multiple areas of life. When it comes to homebuying, a few simple tips can help you stay on track. Because of increased demand, you’ll need to be patient and embrace compromises during your search. Then, once you’ve fallen in love, commit by putting your best offer forward. If you’re looking to buy a home this year, let’s connect so you have a dedicated partner and teammate to help you find the one. Content previously posted on Keeping Current Matters

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The Big Question: Should You Renovate or Move?

Written by Marathon Florida Keys Mortgage on October 13, 2021. Posted in For Buyers, For Sellers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

The last 18 months changed what many buyers are looking for in a home. Recently, the American Institute of Architects released their AIA Home Design Trends Survey results for Q3 2021. The survey reveals the following: 70% of respondents want more outdoor living space 69% of respondents want a home office (48% wanted multiple offices) 46% of respondents want a multi-function room/flexible space 42% of respondents want an au pair/in-law suite 39% of respondents want an exercise room/yoga space If you’re a homeowner who wants to add any of the above, you have two options: renovate your current...

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Don’t Wait for a Lower Mortgage Rate – It Could Cost You

Written by Marathon Florida Keys Mortgage on October 12, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Today’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn’t over just yet. If you’re one of the buyers who worry they’ve missed out, rest assured today’s mortgage rates are still worth taking advantage of. Even today, our mortgage rates are below what they’ve been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you’re still in a great position to secure a rate well...

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Experts Agree: Homeownership Provides a Path to Long-Term Wealth

Written by Marathon Florida Keys Mortgage on October 11, 2021. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

A recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead of renting. Some of the most popular non-financial reasons given include: The flexibility to make the space your own The pride homeownership offers The sense of stability In the same survey, 41% of respondents say they’d rather own a home than rent because of the unique way homeownership builds wealth over time. And experts agree – the home you own is an important tool for building your net worth. Here’s what many of those experts have to say about building long-term...

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Category: For Buyers