Equity Can Make Your Move Possible When Affordability Is Tight [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 26, 2024. Posted in Affordability, Equity, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up.

Some Highlights Did you know the equity you have in your current house can help make your move possible? Once you sell, you can use it for a larger down payment on your next home, so you’re borrowing less. Or, you may even have enough to be an all-cash buyer. The typical homeowner has $298,000 in equity. If you want to find out how much you have, connect with a local real estate agent for a Professional Equity Assessment Report.

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Is a Multi-Generational Home Right for You?

Written by Marathon Florida Keys Mortgage on April 25, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Ever thought about living in the same house with your grandparents, parents, or other loved ones? You’re not alone. A lot of people are choosing to buy multi-generational homes where everyone can live together. Let’s check out why they think it’s a good idea to see if it might be a good fit for you, too. Why People Are Choosing Multi-Generational Living According to the National Association of Realtors (NAR), here are just a few key reasons buyers opted for multi-generational homes over the past year (see graph below): Two of the top reasons had to do with aging parents. 27%...

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Foreclosure Numbers Are Nothing Like the 2008 Crash

Written by Marathon Florida Keys Mortgage on April 24, 2024. Posted in Foreclosures, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up. And that may leave you feeling a bit worried about what’s ahead, especially if you owned a home during the housing crash in 2008. The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed. Here’s the latest information stacked against the historical data to put your mind at ease. The Headlines Make the Increase Sound Dramatic – But It’s Not The increase the media is calling attention to...

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The Best Way To Keep Track of Mortgage Rate Trends

Written by Marathon Florida Keys Mortgage on April 23, 2024. Posted in For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

If you’re thinking about buying a home, chances are you’ve got mortgage rates on your mind. You’ve heard about how they impact how much you can afford in your monthly mortgage payment, and you want to make sure you’re factoring that in as you plan your move. The problem is, with all the headlines in the news about rates lately, it can be a bit overwhelming to sort through. Here’s a quick rundown of what you really need to know. The Latest on Mortgage Rates Rates have been volatile – that means they’re bouncing around a bit. And, you may be wondering, why? The answer is complicated because rates...

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What You Really Need To Know About Home Prices

Written by Marathon Florida Keys Mortgage on April 22, 2024. Posted in Home Prices, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know. A lot of that fear is probably coming from what you’re hearing in the media or reading online. But here’s the thing to remember. Negative news sells. That means, you may not be getting the full picture. You may only be getting the clickbait version. As Jay Thompson, a Real Estate Industry Consultant, explains: “Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points...

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Myths About the 2024 Housing Market [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 19, 2024. Posted in Buying Tips, Forecasts, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Tips.

Some Highlights When it comes to the current housing market, there are some myths circling around right now. Some of the more common ones are that it’s better to wait for mortgage rates to fall or prices to crash. But there are others about the supply of homes for sale and down payments. Lean on a real estate professional to help separate fact from fiction in today’s housing market.

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Is It Getting More Affordable To Buy a Home?

Written by Marathon Florida Keys Mortgage on April 18, 2024. Posted in Affordability, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Over the past year or so, a lot of people have been talking about how tough it is to buy a home. And while there’s no arguing affordability is still tight, there are signs it’s starting to get a bit better and may improve even more throughout the year. Elijah de la Campa, Senior Economist at Redfin, says: “We’re slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the sidelines.” Here’s...

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Is It Better To Rent Than Buy a Home Right Now?

Written by Marathon Florida Keys Mortgage on April 17, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

You may have seen reports in the news recently saying it’s more affordable to rent right now than it is to buy a home. And while that may be true in some markets if you just look at typical monthly payments, there’s one thing that the numbers aren’t factoring in: and that’s home equity. Here’s a look at how big of an impact equity can have and why it’s worth considering as you make your decision. What the Headlines Are Based on The graph below uses national data on the median rental payment from Realtor.com and median mortgage payment from the National Association of Realtors (NAR) to compare...

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Should I Wait for Mortgage Rates To Come Down Before I Move?

Written by Marathon Florida Keys Mortgage on April 16, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates, Selling Tips.

If you’ve got a move on your mind, you may be wondering whether you should wait to sell until mortgage rates come down before you spring into action. Here’s some information that could help answer that question for you. In the housing market, there’s a longstanding relationship between mortgage rates and buyer demand. Typically, the higher rates are, you’ll see lower buyer demand. That’s because some people who want to move will be hesitant to take on a higher mortgage rate for their next home. So, they decide to wait it out and put their plans on hold. But when rates start to come down, things...

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What You Really Need To Know About Home Price Headlines

Written by Marathon Florida Keys Mortgage on April 12, 2024. Posted in Home Prices, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

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Ways To Use Your Tax Refund If You Want To Buy a Home

Written by Marathon Florida Keys Mortgage on April 12, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

Have you been saving up to buy a home this year? If so, you know there are a number of expenses involved – from your down payment to closing costs. But did you also know your tax refund can help you pay for some of these expenses? As Credit Karma explains: “If one of your goals is to stop renting and buy a home, you’ll need to save up for closing costs and a down payment on the mortgage. A tax refund can give you a start on the road to homeownership. If you’ve already started to save, your tax refund could move you down the road faster.” While how much money you may get in a tax refund is going...

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The Perks of Downsizing When You Retire [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 11, 2024. Posted in For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re about to retire, or just did, downsizing can be a good way to try to cut down on some of your expenses. Smaller homes typically have lower energy and maintenance costs. Plus, you may have enough equity built up to fuel your move. If you’re thinking about moving to a smaller home, connect with a real estate professional to go over your goals and look at your options in the local market.

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Builders Are Building Smaller Homes

Written by Marathon Florida Keys Mortgage on April 11, 2024. Posted in First-Time Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

There’s no arguing it, affordability is still tight. And if you’re trying to buy a home, that may mean you need to look at smaller houses to find one that’s still in your budget. But there is a silver lining: builders are focused on building these smaller homes right now and they’re offering incentives. And that can help give you more options that fit the bill. Newly Built Homes Are Trending Smaller During the pandemic, homebuyers wanted (and could afford) larger homes – and builders delivered. They focused on homes that were bigger, so people had more space for things like working from home,...

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Should I Move with Today’s Mortgage Rates?

Written by Marathon Florida Keys Mortgage on April 10, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates, Selling Myths.

When mortgage rates spiked up over the last few years, some homeowners put their plans to move on pause. Maybe you did too because you didn’t want to sell and take on a higher mortgage rate for your next home. But is that still the right strategy for you? In today’s market, data shows more homeowners are getting used to where rates are and thinking it may be time to move. As Mark Zandi, Chief Economist at Moody’s Analytics, explains: “Listings are up a bit as life events and job changes are putting increasing pressure on locked-in homeowners to sell their homes. Homeowners may also be slowly...

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The Top 5 Reasons You Need a Real Estate Agent when Buying a Home

Written by Marathon Florida Keys Mortgage on April 9, 2024. Posted in For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

You may have heard headlines in the news lately about agents in the real estate industry and discussions about their commissions. And if you’re following along, it can be pretty confusing. But here’s the thing you really need to know – expert advice from a trusted real estate agent is priceless, now more than ever. And here’s why. A real estate agent does a lot more than you may realize. Your agent is the person who will guide you through every step when buying a home and look out for your best interests along the way. They smooth out a complex process and take away the bulk of the stress...

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Don’t Let Your Student Loans Delay Your Homeownership Plans

Written by Marathon Florida Keys Mortgage on April 8, 2024. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you have student loans and want to buy a home, you might have questions about how your debt affects your plans. Do you have to wait until you’ve paid off those loans before you can buy your first home? Or is it possible you could still qualify for a home loan even with that debt? Here’s a look at the latest information so you have the answers you need. A Bankrate article explains: “Roughly 60 percent of U.S. adults who have held student loan debt have put off making important financial decisions due to that debt . . . For Gen Z and millennial borrowers alone, that number rises to 70 percent.” This...

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Top 5 Reasons To Hire an Agent When Buying a Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 5, 2024. Posted in Buying Myths, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Hiring an agent when buying a home helps you understand the buying process and the local market. They’ll also go over contracts and fine print with you, so you understand what you’re agreeing to. Plus, they’re good at negotiating, making sure you get the best deal. Expert advice from a trusted real estate professional is priceless. Connect with a local agent today.

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Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami

Written by Marathon Florida Keys Mortgage on April 4, 2024. Posted in Baby Boomers, Demographics, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Have you heard the term “Silver Tsunami” getting tossed around recently? If so, here’s what you really need to know. That phrase refers to the idea that a lot of baby boomers are going to move or downsize all at once. And the fear is that a sudden influx of homes for sale would have a big impact on housing. That’s because it would create a whole lot more competition for smaller homes and would throw off the balance of supply and demand, which ultimately would impact home prices. But here’s the thing. There are a couple of faults in that logic. Let’s break them down and put your mind at ease....

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Newly Built Homes Could Be a Game Changer This Spring

Written by Marathon Florida Keys Mortgage on April 3, 2024. Posted in For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Buying a home this spring? You’re probably navigating today’s affordability challenges and dealing with the limited number of homes for sale. But, what if there was a solution that could help with both? If you’re having a hard time finding a home you love, and mortgage rates are putting pressure on your budget, it may be time to look at newly built homes. Here’s why. New Home Construction Is an Inventory Bright Spot 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 number of existing homes...

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Why Overpricing Your House Can Cost You

Written by Marathon Florida Keys Mortgage on April 2, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re trying to sell your house, you may be looking at this spring season as the sweet spot – and you’re not wrong. We’re still in a seller’s market because there are so few homes for sale right now. And historically, this is the time of year when more buyers move, and competition ticks up. That makes this an exciting time to put up that for sale sign. But while conditions are great for sellers like you, you’ll still want to be strategic when it comes time to set your asking price. That’s because pricing your house too high may actually cost you in the long run. The Downside of Overpricing...

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The Best Week To List Your House Is Almost Here

Written by Marathon Florida Keys Mortgage on April 1, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Are you thinking about making a move? If so, now may be the perfect time to start the process. That’s because experts say the best week to list your house is just around the corner. A recent Realtor.com study looked at housing market trends over the past several years (with the exception of 2020, since it was an unusual year), and found the best week to put your house on the market this year is April 14-20: “Every year, one week stands out from the rest as that perfect stretch of time when it’s great to be a home seller. This year, the week of April 14–20 is the best time to sell—that is, if...

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Outdoor Projects Can Boost Curb Appeal When You Sell [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 29, 2024. Posted in For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights In real estate, a good first impression is key. If the outside of a house looks welcoming, more people will want to come in and see it. Your agent helps you by giving advice on what you may want to prioritize, finding easy fixes that make a big difference, knowing what buyers in your area like, and showing off your updates in your listing. Connect with a local real estate agent so you have expert advice on what’ll have the biggest impact in your area.

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Category: Marathon Florida Keys Mortgage