Why You Shouldn’t Fear Today’s Foreclosure Headlines

Written by Marathon Florida Keys Mortgage on January 25, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the stories in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what’s happening today. Here’s a deeper look.

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The 3 Factors That Affect Home Affordability

Written by Marathon Florida Keys Mortgage on January 24, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares:

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Want To Sell Your House? Price It Right.

Written by Marathon Florida Keys Mortgage on January 23, 2023. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing, Selling Myths.

Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll want to adjust your expectations accordingly. As realtor.com explains:

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What’s Really Happening with Home Prices? [INFOGRAPHIC]

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

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Pre-Approval in 2023: What You Need To Know

Written by Marathon Florida Keys Mortgage on January 19, 2023. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

One of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:

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Have Home Values Hit Bottom?

Written by Marathon Florida Keys Mortgage on January 18, 2023. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Whether you’re already a homeowner or you’re looking to become one, the recent headlines about home prices may leave you with more questions than answers. News stories are talking about home prices falling, and that’s raising concerns about a repeat of what happened to prices in the crash in 2008.

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Think Twice Before Waiting for 3% Mortgage Rates

Written by Marathon Florida Keys Mortgage on January 17, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.

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What Past Recessions Tell Us About the Housing Market

Written by Marathon Florida Keys Mortgage on January 16, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says:

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Key Terms To Know When Buying a Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on January 13, 2023. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

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Is It Time To Sell Your Second Home?

Written by Marathon Florida Keys Mortgage on January 12, 2023. Posted in For Sellers, Housing Market Updates, Luxury Market, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.

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Today’s Housing Market Is Nothing Like 15 Years Ago

Written by Marathon Florida Keys Mortgage on January 11, 2023. Posted in Marathon FL Mortgage, Marathon Florida Keys Mortgage.

There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.

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The Truth About Negative Home Equity Headlines

Written by Marathon Florida Keys Mortgage on January 10, 2023. Posted in Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Home equity has been a hot topic in real estate news lately. And if you’ve been following along, you may have heard there’s a growing number of homeowners with negative equity. But don’t let those headlines scare you.

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What Experts Are Saying About the 2023 Housing Market

Written by Marathon Florida Keys Mortgage on January 9, 2023. Posted in Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023?

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[:en]Your Market Knowledge Will Determine Your Success in 2023 [LIVE WEBINAR][:]

Written by Marathon Florida Keys Mortgage on January 7, 2023. Posted in Marathon FL Mortgage, Marathon Florida Keys Mortgage.

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Tips To Reach Your Homebuying Goals in 2023 [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on January 6, 2023. Posted in Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re planning to buy a home in 2023, here are a few things to focus on. Work on your credit and save for a down payment. If saving feels like a challenge, there’s help available. Then, get pre-approved, create a list of desired features, and prioritize them. Reach out to a real estate professional so you have expert advice on how to reach your homebuying goals this year.

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3 Best Practices for Selling Your House This Year

Written by Marathon Florida Keys Mortgage on January 5, 2023. Posted in Marathon FL Mortgage, Marathon Florida Keys Mortgage.

A new year brings with it the opportunity for new experiences. If that resonates with you because you’re considering making a move, you’re likely juggling a mix of excitement over your next home and a sense of attachment to your current one. A great way to ease some of those emotions and ensure you’re feeling confident in your decision is to keep these three best practices in mind. 1. Price Your Home Right The housing market shifted in 2022 as mortgage rates rose, buyer demand eased, and the number of homes for sale grew. As a seller, you’ll want to recognize things are different now and price...

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Avoid the Rental Trap in 2023

Written by Marathon Florida Keys Mortgage on January 4, 2023. Posted in Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re a renter, you likely face an important decision every year: renew your current lease, start a new one, or buy a home. This year is no different. But before you dive too deeply into your options, it helps to understand the true costs of renting moving forward.

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Wondering How Much You Need To Save for a Down Payment?

Written by Marathon Florida Keys Mortgage on January 3, 2023. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don’t let a common misconception about how much you need to save make the process harder than it could be. Understand 20% Isn’t Always the Typical Down Payment Freddie Mac explains: “. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.” Unless specified by your loan type...

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What Are Your Goals in the Housing Market This Year?

Written by Marathon Florida Keys Mortgage on January 2, 2023. Posted in First Time Home Buyers, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus. In the last year, high inflation had a big impact on the economy, the housing market, and likely on your wallet too. That’s why it’s critical to have a clear understanding of not just the market today, but also what you want out of it when you buy or sell a home. Danielle Hale, Chief Economist at realtor.com, explains: “The key to making a good decision in...

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Here’s to a Wonderful 2023!

Written by Marathon Florida Keys Mortgage on December 30, 2022. Posted in Holidays, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Time-sensitive, Uncategorized.

Content previously posted on Keeping Current Matters

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Planning To Sell Your House? It’s Critical To Hire a Pro.

Written by Marathon Florida Keys Mortgage on December 29, 2022. Posted in For Sellers, FSBOs, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

With higher mortgage rates and moderating buyer demand, conditions in the housing market are different today. And if you’re thinking of selling your house, it’s important to understand how the market has changed and what that means for you. The best way to make sure you’re in the know is to work with a trusted housing market expert. Here are five reasons working with a professional can ensure you’ll get the most out of your sale. 1. A Real Estate Advisor Is an Expert on Market Trends Leslie Rouda Smith, 2022 President of the National Association of Realtors (NAR), explains: “During challenging...

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Applying For a Mortgage? Here’s What You Should Avoid Once You Do.

Written by Marathon Florida Keys Mortgage on December 28, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just home-related purchases that could disqualify you...

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