The Latest Expert Forecasts for Home Prices in 2023

Written by Marathon Florida Keys Mortgage on October 11, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Are you thinking about making a move? If so, all the speculation that home prices would crash this year may have you feeling a bit on edge about your decision. Let the data and the experts reassure you. Prices aren’t in a downward spiral and will actually finish the year strong. Even though you may have heard talk that prices would drop 5, 10, or even 20% this year, that hasn’t happened. The big reason why is the supply of homes for sale is too low. There are just more buyers looking to buy than homes available, and that’s kept prices from falling. To prove this year wasn’t a bust for home...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Are Grandparents Moving To Be Closer to Their Grandkids?

Written by Marathon Florida Keys Mortgage on October 10, 2023. Posted in Baby Boomers, Demographics, For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

During the pandemic, many people distanced themselves from their loved ones for health reasons. Grandparents were told to stay away from their grandkids, especially as schools started to open. That’s because it would have been risky to visit with their grandchildren who may have gotten sick from school. Now that the pandemic has passed, many grandparents want more than ever to be near their grandchildren again to make up for that lost time. But how are they getting that “Grandparent Wish?” The data tells us many are moving to make sure they’re getting more quality time. Grandparents Are Moving...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How Homeowner Net Worth Grows with Time [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 6, 2023. Posted in Buying Myths, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re thinking about buying a home this year, be sure to consider the long-term financial advantages of homeownership, like home equity. On average, people who bought homes 32 years ago have seen their home’s value nearly triple over that time. If you’re wondering if buying a home is a good idea, remember rising home values could grow your net worth with time. When you’re ready to start your homebuying journey, talk with a local real estate professional.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Are You a Homebuyer Worried About Climate Risks?

Written by Marathon Florida Keys Mortgage on October 5, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

The increasing effects of natural disasters are leading to new obstacles in residential real estate. As a recent article from CoreLogic explains: “As the specter of climate change looms large, the world braces for unprecedented challenges. In the world of real estate, one of those challenges will be the effects of natural catastrophes on property portfolios, homeowners, and communities.” That may be why, according to Zillow, more and more Americans now consider how climate risks and natural disasters can impact their homeownership plans (see below): This study goes on to explain that climate...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Understanding the Benefits of Owning Your First Home

Written by Marathon Florida Keys Mortgage on October 4, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Are you considering buying your first home? If so, it can be helpful to know what led other people to make that decision. According to a recent survey of first-time homebuyers by PulteGroup: “When asked why they purchased their first home recently, the answer was simple: because they wanted to. Either the desire to stop renting or recognition that homeownership is a smart financial investment was the main motivator for 72% of respondents.” While that survey looked specifically at first-time homebuyers buying newly built homes, the same sentiment is true for just about anyone buying their first...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Unpacking the Long-Term Benefits of Homeownership

Written by Marathon Florida Keys Mortgage on October 2, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re thinking about buying a home soon, higher mortgage rates, rising home prices, and ongoing affordability concerns may make you wonder if it still makes sense to buy a home right now. While those market factors are important, there’s more to consider. You should think about the long-term benefits of homeownership too. Think about 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 home values grow with time and how, by extension, that...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why Today’s Housing Inventory Shows a Crash Isn’t on the Horizon

Written by Marathon Florida Keys Mortgage on September 27, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008. One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening. Housing supply comes from three main sources: Homeowners deciding to sell their houses Newly...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Return of Normal Seasonality for Home Price Appreciation

Written by Marathon Florida Keys Mortgage on September 26, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing, Selling Myths.

If you’re thinking of making a move, one of the biggest questions you have right now is probably: what’s happening with home prices? Despite what you may be hearing in the news, nationally, home prices aren’t falling. It’s just that price growth is beginning to normalize. Here’s the context you need to really understand that trend. In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Beginning with Pre-Approval

Written by Marathon Florida Keys Mortgage on September 25, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re looking to buy a home this fall, there are a few things you need to know. Affordability is tight with today’s mortgage rates and rising home prices. At the same time, there’s a limited number of homes on the market right now and that’s creating some competition among buyers. But, if you’re strategic, there are ways to navigate these waters. The first thing you’ll want to do is get pre-approved for a mortgage. That way you’ll know your numbers and can set yourself up for success from the start of your home search. What Pre-Approval Does for You To understand why it’s such an important...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How Remote Work Helps with Your House Hunt [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 22, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights While remote work peaked during the pandemic, many people still work from home today. If you’re one of them, it could have an unexpected benefit when you’re looking to buy a home. If you can work from home, you might have more choices for where to live. Connect with a real estate agent to talk about your options and what’s most important to you.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Many Non-Financial Benefits of Homeownership

Written by Marathon Florida Keys Mortgage on September 21, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Buying and owning your own home can have a big impact on your life. While there are financial reasons to become a homeowner, it’s essential to think about the non-financial benefits that make a home more than just a place to live. Here are some of the top non-financial reasons to buy a home. According to Fannie Mae, 94% of survey respondents say “Having Control Over What You Do with Your Living Space” is a top reason to own. Your home is truly your own space. If you own a home, unless there are specific homeowner association requirements, you can decorate and change it the way you like....

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Remote Work Is Changing How Some Buyers Search for Their Dream Homes

Written by Marathon Florida Keys Mortgage on September 20, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The way Americans work has changed in recent years, and remote work is at the forefront of this shift. Experts say it’ll continue to be popular for years to come and project that 36.2 million Americans will be working remotely by 2025. To give you some perspective, that’s a 417% increase compared to the pre-pandemic years when there were just 7 million remote workers. If you’re in the market to buy a home and you work remotely either full or part-time, this trend is a game-changer. It can help you overcome some of today’s affordability and housing inventory challenges. How Remote Work...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why Is Housing Inventory So Low?

Written by Marathon Florida Keys Mortgage on September 14, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, New Construction.

One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. Here’s why. There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply. Underbuilding Is a Long-Standing Problem One of the big reasons inventory is low is because builders haven’t been...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Should Baby Boomers Buy or Rent After Selling Their Houses?

Written by Marathon Florida Keys Mortgage on September 13, 2023. Posted in Baby Boomers, Buying Myths, Demographics, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider. Will you move to a different state or stay nearby? Is it time to downsize or do you want more space to accommodate your loved ones? But maybe the biggest consideration boils down to this – will you buy your next home or choose to rent instead? That decision ultimately depends on your current situation and your future plans. Here are two important factors to help you decide what’s right for you. Expect Rents to Keep Going...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What Experts Project for Home Prices Over the Next 5 Years

Written by Marathon Florida Keys Mortgage on September 12, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment. While you may have seen negative news over the past year about home prices, they’re doing far better than expected and are rising across the country. And data shows, experts forecast home prices will keep appreciating. Experts Project Ongoing Appreciation Pulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Get Ready for Smaller, More Affordable Homes

Written by Marathon Florida Keys Mortgage on September 7, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Have you been trying to buy a home, but higher mortgage rates and home prices are limiting your options? If so, here’s some good news – based on what Ali Wolf, Chief Economist at Zonda, has to say – smaller, more affordable homes are on the way: “Buyers should expect that over the next 12 to 24 months there will be a notable increase in the number of entry-level homes available.” In some ways, smaller homes are already here. When the pandemic hit, the meaning of home changed. People needed the space their home provided not only as a place to live, but as a place to work, go to school, exercise,...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How Inflation Affects the Housing Market

Written by Marathon Florida Keys Mortgage on August 31, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Have you ever wondered how inflation impacts the housing market? Believe it or not, they’re connected. Whenever there are changes to one, both are affected. Here’s a high-level overview of the connection between the two. The Relationship Between Housing Inflation and Overall Inflation Shelter inflation is the measure of price growth specific to housing. It comes from a survey of renters and homeowners that’s done by the Bureau of Labor Statistics (BLS). The survey asks renters how much they’re paying in rent, and homeowners how much they’d rent their homes for, if they weren’t living in them. Much...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Gen Z: The Next Generation Is Making Moves in the Housing Market

Written by Marathon Florida Keys Mortgage on August 28, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Generation Z (Gen Z) is eager to put down their own roots and achieve financial independence. As a result, they’re turning to homeownership. According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), 30% of Gen Z buyers transitioned straight from living under their parents’ roofs to owning their own homes. If you’re a member of this generation, and you’re interested in pursuing your own dream of homeownership, here’s some information you may find helpful on why and where your peers are buying. The Reasons Gen Z Want To Become...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why You Need a True Expert in Today’s Housing Market

Written by Marathon Florida Keys Mortgage on August 23, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side. Whether you’re buying your first home or selling once again, it’s mission critical to work with an expert who can guide you through each unique step of the process. The reality is, not all agents operate the same way. To truly make a powerful and confident decision as you buy or sell a home, you need a real estate expert who uses their knowledge of what’s really happening with home prices, housing supply, industry...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why You Don’t Need To Fear the Return of Adjustable-Rate Mortgages

Written by Marathon Florida Keys Mortgage on August 22, 2023. Posted in Buying Myths, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you remember the housing crash back in 2008, you may recall just how popular adjustable-rate mortgages (ARMs) were back then. And after years of being virtually nonexistent, more people are once again using ARMs when buying a home. Let’s break down why that’s happening and why this isn’t cause for concern. Why ARMs Have Gained Popularity More Recently This graph uses data from the Mortgage Bankers Association (MBA) to show how the percentage of adjustable-rate mortgages has increased over the past few years: As the graph conveys, after hovering around 3% of all mortgages in 2021, many more...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why Median Home Sales Price Is Confusing Right Now

Written by Marathon Florida Keys Mortgage on August 21, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Selling Myths.

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded. So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

People Want Less Expensive Homes – And Builders Are Responding

Written by Marathon Florida Keys Mortgage on August 17, 2023. Posted in For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

In today’s housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low inventory. To overcome those challenges, many people are working with their agents to find less expensive homes. And with newly built homes making up a historically large percentage of the total available inventory today, that search often includes brand new homes. People Are Spending Less on Newly Built Homes The graph below uses the latest information from the Census to show, in June, more of...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Category: For Buyers