Affordable Homeownership Strategies for Gen Z

Written by Marathon Florida Keys Mortgage on October 26, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

The idea of owning a home has always been a big part of the American Dream. It’s a symbol of stability, independence, and having a place to truly call your own. But for Gen Z, the “Zoomers” born between 1997 and 2012, making that dream a reality can feel like quite the challenge today with higher mortgage rates and rising home prices. But achieving that goal of owning your first home can still be attainable, even today, with some strategic planning and resourcefulness. Explore Financing and Down Payment Assistance Options With prices rising all around you, it can be hard...

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Invest in Yourself by Owning a Home

Written by Marathon Florida Keys Mortgage on October 25, 2023. 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, Pricing.

Are you wondering if it makes sense to buy a home right now? While today’s mortgage rates might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a homeowner. Home Values Appreciate over Time There’s been a lot of confusion around what’s happened with home prices over the past two years. While they did dip ever so slightly in late 2022, this year they’ve been appreciating at a more normal pace, which is good news for the housing market. And while looking at price movement over just a year or two can make you worry prices are usually this unpredictable,...

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The Perks of Selling Your House When Inventory Is Low

Written by Marathon Florida Keys Mortgage on October 24, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

When it comes to selling your house, you’re probably trying to juggle the current market conditions and your own needs as you plan your move. One thing that may be working in your favor is how few homes there are for sale right now. Here’s what you need to know about the current inventory situation and what it means for you. The Supply of Homes for Sale Is Far Below the Norm When you’re selling something, it helps if what you’re selling is in demand, but is also in low supply. Why? That makes it even more desirable since there’s not enough to go around. That’s exactly what’s happening in the...

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Why Home Prices Keep Going Up

Written by Marathon Florida Keys Mortgage on October 23, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Selling Myths.

If you’ve ever dreamed of buying your own place, or selling your current house to upgrade, you’re no stranger to the rollercoaster of emotions changing home prices can stir up. It’s a tale of financial goals, doubts, and a dash of anxiety that many have been through. But if you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it’s just the opposite. National data from several sources says they’ve been going up consistently this year (see graph below): Here’s what this graph shows. In the first half of...

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Home Price Growth Is Returning to Normal [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 20, 2023. Posted in Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Some Highlights If you’re wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year. Based on typical seasonality in the market, prices go up most in the spring during the peak buying season, and then price growth slows down as the year goes on. Home prices aren’t falling. They’re just rising slower and going back to normal seasonal trends. That’s a good thing. If you’re curious about prices in your area, reach out to a real estate agent for answers.

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The Risks of Selling Your House on Your Own

Written by Marathon Florida Keys Mortgage on October 19, 2023. Posted in For Sellers, FSBOs, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Are you thinking about selling your house as a For Sale by Owner (FSBO)? If so, know there’s a whole lot more time and expertise needed in that process than you might think. While the idea of doing it all by yourself might seem tempting, it’s important to recognize the challenges you may face if you take it on all by yourself. As a recent article from Bankrate explains: “Choosing the right price, crafting a compelling listing, marketing to potential buyers, coordinating showings, preparing paperwork: All of these are tasks that, in the absence of a real estate agent, you will have...

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What Are the Real Reasons You Want To Move Right Now?

Written by Marathon Florida Keys Mortgage on October 18, 2023. Posted in Demographics, For Sellers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re considering selling your house right now, it’s likely because something in your life has changed. And while things like mortgage rates play a big role in your decision, you don’t want that to overshadow why you thought about making a move in the first place. It’s true mortgage rates are higher right now, and that has an impact on affordability. As a result, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home. But your lifestyle and your changing needs matter, too. As a recent article from...

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How Buying a Multi-Generational Home Helps with Affordability Today

Written by Marathon Florida Keys Mortgage on October 17, 2023. Posted in Demographics, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Rent vs. Buy.

In today’s world of rising housing costs, many buyers are looking for ways to still be able to buy a home. Some of them have found a solution in multi-generational living. Multi-generational living is when two or more adult generations live together under one roof. This includes siblings, parents, or even grandparents. Here’s an in-depth look at why more buyers are choosing this option today, so you can see if it may be right for you too. Reasons To Buy a Multi-Generational Home According to a recent study by the National Association of Realtors (NAR), the top two reasons people are opting...

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Are Higher Mortgage Rates Here To Stay?

Written by Marathon Florida Keys Mortgage on October 17, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades (see graph below): That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know. How Higher Mortgage Rates Impact You There’s no denying mortgage rates are higher right now than they were in recent years. And, when rates are up,...

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The Difference Between Renting and Buying a Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 13, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Rent vs. Buy.

Some Highlights When deciding between buying a home or renting, think about these three important factors. Buying a home means avoiding rising rents, owning a tangible and valuable asset, and growing your wealth over time. If you’re ready to enjoy the advantages of owning a home, connect with a local real estate expert to discuss your options.

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Growing Your Net Worth with Homeownership

Written by Marathon Florida Keys Mortgage on October 12, 2023. Posted in Buying Myths, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Take a moment to imagine where you want to be in a few years. You might be thinking about your job, money, wanting more stability, or goals you want to reach soon. Is homeownership a part of that vision? If it is, you should know owning a home has a whole lot of financial benefits. One of the many reasons to buy a home is that it’s a great way to build wealth and gain financial stability. That’s because the value of most homes increases over time, which in turn grows your net worth. Here’s how home values are rising right now. According to Zillow: “The total value of the U.S. housing market...

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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...

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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...

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Key Skills You Need Your Listing Agent To Have

Written by Marathon Florida Keys Mortgage on October 9, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Selling your house is a big decision. And that can make it feel both exciting and a little bit nerve-wracking. But the key to a successful sale is finding the perfect listing agent to work with you throughout the process. A listing agent, also known as a seller’s agent, helps market and sell your house while advocating for you every step of the way. But, how do you know you’ve found the perfect match in an agent? Here are three key skills you’ll want your listing agent to have. They Price Your House Based on the Latest Data While it may be tempting to pick the agent who suggests...

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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.

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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...

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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...

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Home Prices Are Not Falling

Written by Marathon Florida Keys Mortgage on October 3, 2023. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Selling Myths.

During the fourth quarter of last year, some housing experts projected home prices were going to crash in 2023. The media ran with those forecasts and put out headlines calling for doom and gloom in the housing market. All of this negative news coverage made a lot of people have doubts about the strength of the residential real estate market. If it made you question if you should delay your own plans to move, here’s what you really need to know. Home Prices Never Crashed Disregard what you saw in the headlines. The actual data shows home prices were remarkably resilient and performed far better...

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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...

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Explaining Today’s Low Housing Supply [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 29, 2023. Posted in Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, New Construction.

Some Highlights Wondering why the supply of homes for sale is limited today? There are a few factors at play. Lack of building over time, the mortgage rate lock-in effect, and people staying in their houses longer are three of the main reasons why supply is low. But real estate agents know exactly where to look and what to do to make your dream a reality. Connect with an agent so you have an expert on your side to help you successfully navigate the market and find your next home.

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Why Your House Didn’t Sell

Written by Marathon Florida Keys Mortgage on September 28, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If your listing expired and your house didn’t sell, you’re likely feeling a little frustrated. Not to mention, you’re also probably wondering what went wrong. Here are three questions to think about as you figure out what to do next. Did You Limit Access to Your House? One of the biggest mistakes you can make when selling your house is restricting the days and times when potential buyers can tour it. Being flexible with your schedule is important when you’re selling your house, even though it might feel a bit stressful to drop everything and leave when buyers want to see it. After...

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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...

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Category: Marathon Florida Keys Mortgage