Category: Move-Up Buyers

Auto Added by WPeMatico

How To Approach Rising Mortgage Rates as a Buyer

Written by Marathon Florida Keys Mortgage on April 20, 2022. 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.

In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead. 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. How Rising Mortgage Rates Impact You Mortgage rates play a...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why Pre-Approval Is an Important Step for Today’s Homebuyers

Written by Marathon Florida Keys Mortgage on April 19, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Being intentional and competitive are musts when buying a home this season. That’s why pre-approval is so important today. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Peter Warden, Editor of The Mortgage Reports, explains: “The lender will check out your personal finances and issue you a letter confirming the amount you’re eligible to borrow. This not only gives you a firm budget for house hunting, but also lets sellers know you’re qualified to make an offer.” Why does that matter so much today? There are many...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What Is Multigenerational Housing? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 15, 2022. Posted in Baby Boomers, Buying Myths, Demographics, First Time Home Buyers, For Buyers, Gen Z, Generation X, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Millennials, Move-Up Buyers, Senior Market.

Some Highlights If you have additional loved ones coming to live with you but don’t have enough space, it may be time to consider a larger, multigenerational home. Some key benefits of multigenerational living include a combined homebuying budget, shared caregiving duties, enhanced relationships, and more. These benefits might be why more people are choosing to live in multigenerational homes today. Let’s connect so you can find a house that meets your changing needs and has plenty of space for you and your loved ones. Content previously posted on Keeping Current Matters

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

On the Fence of Whether or Not To Move This Spring? Consider This.

Written by Marathon Florida Keys Mortgage on April 14, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re thinking of selling your house, it may be because you’ve heard prices are rising, listings are going fast, and sellers are getting multiple offers on their homes. But why are conditions so good for sellers today? And what can you expect when you move? To help answer both of those questions, let’s turn to the data. Today, there are far more buyers looking for homes than sellers listing their houses. Here are the maps of the latest buyer and seller traffic from the National Association of Realtors (NAR) to help paint the picture of what this looks like: Notice how much darker the...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Using Your Tax Refund To Achieve Your Homeownership Goals This Year

Written by Marathon Florida Keys Mortgage on April 11, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re buying or selling a home this year, you’re likely saving up for a variety of expenses. For buyers, that might include things like your down payment and closing costs. And for sellers, you’re probably working on a bit of spring cleaning and maintenance to spruce up your house before you list it. Either way, any money you get back from your taxes can help you achieve your goals. Using a tax refund is a common tactic for buyers and sellers. SmartAsset estimates the average American will receive a $2,897 tax refund this year. The map below provides a more detailed estimate by...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Do You Know How Much Equity You Have in Your Home? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 8, 2022. Posted in For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights If you’re a homeowner, your net worth has gotten a big boost. That’s because recent home price appreciation has increased your equity. Your equity grows as you pay down your loan and as your home increases in value. Over the past year, the average homeowner’s equity grew by $55,300. Ready to sell? Let’s connect to talk about how you can use that equity to fuel your next move. Content previously posted on Keeping Current Matters

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Future of Home Price Appreciation and What It Means for You

Written by Marathon Florida Keys Mortgage on April 7, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will lead to a situation similar to the housing crash 15 years ago. However, experts say the market is totally different today. For example, Odeta Kushi, Deputy Chief Economist at First American, tweeted just last week on this issue: “. . . We do need price appreciation to slow today (it’s not sustainable over the long run) but high price growth today is supported by fundamentals- short supply, lower rates & demographic demand. And we are in...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What You Need To Budget for When Buying a Home

Written by Marathon Florida Keys Mortgage on April 5, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

When it comes to buying a home, it can feel a bit intimidating to know how much you need to save and where to find that information. But you should know, you’re not expected to have all the answers yourself. There are many trusted professionals who can help you understand your finances and what you’ll need to budget for throughout the process. To get you started, here are a few things experts say you should plan for along the way. 1. Down Payment As you set your savings goal for your purchase, your down payment is likely already top of mind. And, like many other people, you may believe...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Balancing Your Wants and Needs as a Homebuyer Today

Written by Marathon Florida Keys Mortgage on April 4, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Since the number of homes for sale is low today, it can feel challenging to find one that checks all your boxes. But if you know which features are absolutely essential in your next home and which ones are just nice bonuses, you can land a home that fits your needs. Danielle Hale, Chief Economist for realtor.com, explains it like this: “Focus on the goal you set out for yourself, like your list of must-haves and nice-to-haves and your budget, . . . Stick to that. Be persistent.” So how do you go about creating your list of desired features? The first step is to get pre-approved for your...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How an Energy Efficient Home Can Be a Bright Idea [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 25, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights With inflation driving up the cost of everyday items, seeking out an energy-efficient home can be a great way to decrease the expenses you can control. Energy efficiency can help lower your utility bills and possibly even save you money on your taxes. Options to look for include efficient appliances, windows, and solar panels. If you’re planning to buy a home this year, consider energy efficiency in your search. Let’s connect so you can better understand features that can save you money for years to come. Content previously posted on Keeping Current Matters

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What You Need To Know if You’re Thinking About Building a Home

Written by Marathon Florida Keys Mortgage on March 23, 2022. Posted in For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, New Construction.

If you’re ready to move up, you may be trying to decide whether you want to buy a home that’s already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct more houses and help narrow the supply shortage, they’re also facing delays due to factors outside of their control. Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact your plans to move up. When you know what’s happening in the...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Did Your Dream Home Just Come on the Market?

Written by Marathon Florida Keys Mortgage on March 17, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

For the first time in a long time, the number of newly listed homes is beginning to rise. In their latest monthly release, realtor.com reveals the number of existing homes entering the market has increased for two months in a row (this comes after six months of declines). Here’s a graph showing the monthly new listings going back to January of last year. The green bars indicate the first gains since June. However, buying demand is still outpacing housing supply. Though the increase in homes coming to the market is great news for prospective homebuyers, the number of buyers is still...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Don’t Get Caught Off Guard by Closing Costs

Written by Marathon Florida Keys Mortgage on March 15, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

As a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. While most people understand the need to save for a down payment, a recent survey found 41% of homebuyers were surprised by their closing costs. Here’s some information to help you get started so you’re not caught off guard when it’s time to close on your home. What Are Closing Costs? One possible reason some people are surprised by closing costs may be because they don’t know what they are or what they cover. According to U.S. News and World Report: “Closing costs encompass a...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

This Spring Presents Sellers with a Golden Opportunity

Written by Marathon Florida Keys Mortgage on March 14, 2022. Posted in For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one. If that’s the case, you should know – you may be able to get the best of both worlds today. Here are four reasons why this spring may be your golden window of opportunity. 1. The Number of Homes on the Market Is Still Low Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market today than there are homes...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Key Terms for Homebuyers [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 11, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford. Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction. Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. Let’s connect so you have an expert guide and advice for any questions that may come up. Content...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How To Navigate a Market Where Multiple Offers Is the New Normal

Written by Marathon Florida Keys Mortgage on March 10, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re thinking of buying a home today, you already know that the number of homes available for sale is low. But what does that really mean for you? As a buyer, low housing supply coupled with high buyer demand means you should be prepared to navigate a highly competitive market where homes sell fast and get multiple offers. Realtor.com has this to say: “Homes also flew off the market at record pace as buyers put offers in the moment properties came up for sale….” In a bidding war situation like this, doing everything you can to get ahead of the competition is a wise move. That’s...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Key Factors That Impact Affordability Today

Written by Marathon Florida Keys Mortgage on March 9, 2022. 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.

You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s buyers face. There’s no doubt homes are less affordable today than they were over the last two years, but that doesn’t mean homes are now unaffordable. There are three measures used to establish home affordability: home prices, mortgage rates, and wages. Let’s look closely at each of these components. 1. Home Prices The most recent Home Price Insights report by CoreLogic shows home values have increased by 19.1% from last January to this January. That was one...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Are Home Prices Continuing To Rise?

Written by Marathon Florida Keys Mortgage on March 3, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Many analysts projected home price appreciation would slow dramatically in the fall of 2021 and then continue to soften throughout 2022. So far, that hasn’t happened. The major price indices are all revealing ongoing double-digit price appreciation. Here’s a look at their reports on year-over-year price appreciation for December: Federal Housing Finance Agency (FHFA): 17.6% S&P Case-Shiller: 18.8% CoreLogic: 18.5% To show that they’re not seeing signs of softening, here’s a graph that gives the progression of all three indices for each month of 2021. As the graph above reveals,...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Down Payment Assistance Programs Can Help You Achieve Homeownership

Written by Marathon Florida Keys Mortgage on March 2, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

For many homebuyers, the thought of saving for a down payment can feel daunting, especially in today’s market. That’s why, when asked what they find most difficult in the homebuying process, some buyers say it’s one of the hardest steps on the path to homeownership. Data from the National Association of Realtors (NAR) shows: “For first-time home buyers, 29 percent said saving for a downpayment [sic] was the most difficult step in the process.” If you’re finding that your down payment is your biggest hurdle, the good news is there are many down payment assistance programs available that...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Millennials: Do You Need a Home with More Space?

Written by Marathon Florida Keys Mortgage on February 28, 2022. Posted in Demographics, Down Payments, For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Millennials, Move-Up Buyers.

If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home. If that’s the case, you’re not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the Wall Street Journal...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Difference Between Renting and Owning [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on February 25, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Rent vs. Buy.

Some Highlights If you’re deciding whether to rent or buy, consider the many financial benefits that come with owning a home. As a renter, you build your landlord’s wealth and face rising costs. As a homeowner, you build your own net worth and can lock in your monthly payments for the length of your loan. If you’re weighing your options, remember that owning a home is a decision that has considerable financial perks. If you want to learn more, let’s connect to talk about the perks of homeownership. Content previously posted on Keeping Current Matters

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Perks of Owning More Than One Home

Written by Marathon Florida Keys Mortgage on February 22, 2022. Posted in For Buyers, Luxury Market, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Many things have changed over the past couple of years, and real estate is no exception. One impact is an increased desire to own more than one home. According to the recent Luxury Market Report from Luxury Home Marketing: “As trends such as remote working and flexi-hours took hold in 2021, so too did the flexibility of relocating as well as the growth of second homeownership.” This may be because the pandemic has altered how we think about our homes. Where we live has become, more than ever, our safe space and our getaway. And with the rise in remote work, more people are reconsidering...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl