What Are the Experts Saying About the Spring Housing Market?

Written by Marathon Florida Keys Mortgage on April 25, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your position right now. Here’s what industry experts are saying right now about the spring housing market and what it means for you: Selma Hepp, Chief Economist, CoreLogic: “We see more competition among buyers . . . Housing supply also tends to grow during the spring months. And this is also the time of year when...

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The Power of Pre-Approval

Written by Marathon Florida Keys Mortgage on April 24, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re buying a home this spring, today’s housing market can feel like a challenge. With so few homes on the market right now, plus higher mortgage rates, it’s essential to have a firm grasp on your homebuying budget. You’ll also need a sense of determination to find the right house and act quickly when you go to put in an offer. One thing you can do to help you prepare is to get pre-approved. To understand why it’s such an important step, you need to know what pre-approval is. As part of the process, a lender looks at your finances to determine what they’d be willing to loan you. From there,...

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Why You May Want an Energy-Efficient Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 21, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights Since inflation is increasing the cost of goods and services, it may make sense to look for an energy-efficient home. Energy prices have increased over the last year, so look for energy-efficient features in your home search. If you’re looking to buy a home this year, work with a real estate expert so you have a partner to help you consider which features are most important to you.

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What’s the Difference Between a Home Inspection and an Appraisal?

Written by Marathon Florida Keys Mortgage on April 20, 2023. Posted in For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re planning to buy a home, an inspection is an important step in the process. It assesses the condition of the home before you finalize the transaction. It’s also a different step in the process from an appraisal, which is a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. Here’s the breakdown of each one and why they’re both important when buying a home. Home Inspection Here’s the key difference between an inspection...

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Falling out of Love with Your House? It May Be Time To Move.

Written by Marathon Florida Keys Mortgage on April 19, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Owning a home means having a place that’s solely your own and provides the space, features, and location you and your loved ones need. But what happens when your needs change? If this hits home for you, it may be time to make a move. According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), the average person has lived in their current house for ten years. If you’ve been in your home for a while, think about how much in your life has changed since you moved in. Even if you thought it would be your forever home when you bought...

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5 Reasons Millennials Are Buying Homes

Written by Marathon Florida Keys Mortgage on April 18, 2023. Posted in Demographics, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Millennials.

In the United States, there are over 72 million millennials. If you’re part of that generation and have thought about buying a home, you aren’t alone. According to Zonda, 98% of millennials want to become a homeowner at some point if they aren’t already. But why? There are plenty of reasons you may choose to become a homeowner. Here’s why other millennials have made that decision (see graph below): This graph shows why millennials are buying homes according to Zonda’s 6th annual millennial survey. The top reasons include building equity, a change in life stage, wanting stability, rising home...

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Think Twice Before Waiting for Lower Home Prices

Written by Marathon Florida Keys Mortgage on April 17, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Millennials, Move-Up Buyers, Pricing.

As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy. A recent survey from Zonda shows 53% of millennials are still renting right now because they’re waiting for home prices to come down. But here’s the thing: the most recent...

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Home Inspections for Sellers: What You Need To Know [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 14, 2023. Posted in For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

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Want To Sell Your House This Spring? Price It Right.

Written by Marathon Florida Keys Mortgage on April 13, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Over the last year, the housing market’s gone through significant change. While it’s still a sellers’ market, homes that are priced right are selling, and they get the most attention from buyers right now. If you’re thinking of selling your house this spring, it’s important to lean on your expert real estate advisor when it comes to setting a list price. As Realtor.com explains: “Move-in-ready homes with curb appeal and in desirable areas—and that are priced to sell—are especially likely to move quickly this spring.” In today’s market, how you price your house will not only make a big difference...

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Your Tax Refund Can Help You Achieve Your Homebuying Goals

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

Have you been saving up to buy a home this year? If so, you know there are a variety of expenses involved – from your down payment to closing costs. But there’s good news – your tax refund can help you achieve your goals by paying for some of these expenses. SmartAsset estimates the average American will receive a $1,798 tax refund this year. The map below provides a more detailed estimate by state: According to Freddie Mac, there are multiple ways your refund check can help you as a homebuyer. If you’re getting a refund this year and thinking about buying a home, here are a few tips to keep: Saving...

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The Big Advantage If You Sell This Spring

Written by Marathon Florida Keys Mortgage on April 11, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Thinking about selling your house? If you’ve been waiting for the right time, it could be now while the supply of homes for sale is so low. HousingWire shares: “. . . the big question is whether we are finally starting to see the seasonal spring increase in inventory. The answer is no, because active listings fell to a new low last week for 2023 . . .” The National Association of Realtors (NAR) confirms today’s housing inventory is low by looking at the months’ supply of homes on the market. In a balanced market, about a six-month supply is needed. Anything lower is a sellers’ market. And today,...

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Homebuyer Activity Shows Signs of Warming Up for Spring

Written by Marathon Florida Keys Mortgage on April 10, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The spring season appears to be warming up in housing as more and more buyers enter the market. And after rising mortgage rates sidelined so many buyers last year, that’s a good sign for sellers. Realtor.com has the latest: “Spring is officially here, and like green shoots emerging from the bleak winter, new data suggests that more buyers are back in the market, although more subdued compared to a year ago.” We know buyer activity is trending up because of mortgage purchase application data. According to Investopedia: “A mortgage application is a document submitted to a lender when you apply...

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The Key Advantage of Investing in a Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 7, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

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Trying To Buy a Home? Hang in There.

Written by Marathon Florida Keys Mortgage on April 6, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

We’re still in a sellers’ market. And if you’re looking to buy a home, that means you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind, there are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here are a few of them. Long-Term Benefits Outweigh Short-Term Challenges Owning a home grows your net worth – and since building that wealth takes time, it makes sense to start as soon as you can. If you wait to buy and keep renting, you’ll miss out on those monthly housing payments...

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Why Aren’t Home Prices Crashing?

Written by Marathon Florida Keys Mortgage on April 5, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. And after several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing. Even though we’re no longer seeing the buyer frenzy that drove home values up during the pandemic, prices have been relatively flat at the national level. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), doesn’t expect that to change: “[H]ome...

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Two Reasons You Should Sell Your House

Written by Marathon Florida Keys Mortgage on April 4, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Wondering if you should sell your house this year? As you make your decision, think about what’s motivating you to consider moving. A recent survey from realtor.com asked why homeowners are thinking about selling their houses this year. Here are the top two reasons (see graphic below): Let’s break those reasons down and explore how they might resonate with you. 1. I Want To Take Advantage of the Current Market and Make a Profit When you decide to sell your house, how much you’ll make from the sale will likely be top of mind. So, here’s some good news: according to the latest data, the average...

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How Changing Mortgage Rates Can Affect You

Written by Marathon Florida Keys Mortgage on April 3, 2023. Posted in Buying Myths, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power. The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment: Even a 0.5% change can have a big impact on your monthly payment. And since rates have been moving between 6% and 7% for a while now, you can see how it impacts your purchasing power as rates go down. What This Means for You You may...

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Facts About Closing Costs [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 31, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

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We’re in a Sellers’ Market. What Does That Mean?

Written by Marathon Florida Keys Mortgage on March 30, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market. But what does that really mean? And why are conditions today so good if you want to list your house? It starts with the number of homes available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market...

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4 Key Tips for Selling Your House This Spring

Written by Marathon Florida Keys Mortgage on March 29, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Spring has arrived, and that means more and more people are getting their homes ready to sell. But with recent shifts in real estate, this year’s spring housing market will be different from the frenzy of the past several years. To sell your house quickly, without hassles, and for the most money, be sure to follow these four simple tips: 1. Make Sure You Give Buyers Access One of the biggest mistakes you can make as a seller is limiting the days and times when buyers have access to view your home. In any market, if you want to maximize the sale of your house, you can’t limit potential buyers’...

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How Homeownership Is Life Changing for Many Women

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

Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households. Why Is Homeownership So Important to Women? The rise in women pursuing homeownership hasn’t just made an impact on the housing market. It’s also been an asset for those buyers and their households. That’s because homeownership has many benefits, both financial and personal. On the financial side, housing proves to be the key to building...

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Get Ready: The Best Time To List Your House Is Almost Here

Written by Marathon Florida Keys Mortgage on March 27, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re thinking about selling this spring, it’s time to get moving – the best week to list your house is fast approaching. Experts at realtor.com looked at seasonal trends from recent years (excluding 2020 as an uncharacteristic year due to the onset of the pandemic) and determined the ideal week to list a house this year: “Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2023 is approaching quickly. The week of April 16-22 is expected to have the ideal balance of housing market conditions that favor home...

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Category: Marathon Florida Keys Mortgage