What’s Going To Happen with Home Prices This Year?

Written by Marathon Florida Keys Mortgage on January 13, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

After almost two years of double-digit increases, many experts thought home price appreciation would decelerate or happen at a slower pace in the last quarter of 2021. However, the latest Home Price Insights Report from CoreLogic indicates while prices may have plateaued, appreciation has definitely not slowed. The following graph shows year-over-year appreciation throughout 2021. December data has not yet been released. As the graph shows, appreciation has remained steady at around 18% over the last five months. In addition, the latest S&P Case-Shiller Price Index and the FHFA Price...

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Two Ways Homebuyers Can Win in Today’s Market

Written by Marathon Florida Keys Mortgage on January 12, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If your goal is to purchase a home this year, you might be looking for any advantage you can get in today’s sellers’ market. While competition is still fierce for homebuyers, there are ways you can win and secure the home of your dreams, even in a hot market. Act Early and Save The earlier you act this year, the more affordable your purchase will be. That’s because experts project mortgage rates will rise as we move deeper into 2022. According to Freddie Mac, the average 30-year fixed-rate mortgage is expected to be 3.5% by year’s end. Experts forecast home prices will rise as well. That means...

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Why Inflation Shouldn’t Stop You from Buying a Home in 2022

Written by Marathon Florida Keys Mortgage on January 11, 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.

If you’re following along with the news today, you’re probably hearing a lot about record-breaking home prices, rising consumer costs, supply chain constraints, and more. And if you’re thinking about purchasing a home this year, all of these inflationary concerns are likely making you wonder if you should wait to buy. Investopedia explains that during a period of high inflation, prices rise across the board. And while home prices aren’t immune from this increase, here’s why inflation shouldn’t stop you from buying a home in 2022. Homeownership Offers Stability and Security Home prices have...

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Real Estate Professionals Are Experts at Keeping You Safe When You Sell

Written by Marathon Florida Keys Mortgage on January 10, 2022. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re on the fence about whether or not you want to sell your house this year, there’s good news. For nearly two years, real estate professionals have worked tirelessly to ensure the safety of buyers and sellers during the pandemic. Today, they’re seasoned experts, not just in the art of buying and selling homes, but also in how to keep you safe throughout the process. Real estate professionals have learned new technologies plus safety and sanitation measures. As new variants emerge, those lessons continue to be key ways agents add value. Real Estate Advisors Stay Current on Guidance for...

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How To Hit Your Homebuying Goals This Year [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on January 7, 2022. Posted in Down Payments, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights If you’re looking to buy a home, you may want to put these items on your to-do list to ensure you hit your goals. It’s important to start working on your credit and saving for a down payment early. When you’re ready to begin your search, work with a real estate professional and get pre-approved so you know how much you can borrow. Connect with a real estate advisor so you have the guidance you need to achieve your homebuying goals this year. Content previously posted on Keeping Current Matters

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There Won’t Be a Wave of Foreclosures in the Housing Market

Written by Marathon Florida Keys Mortgage on January 6, 2022. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

When mortgage forbearance plans were first announced and the pandemic surged through the country in early 2020, many homeowners were allowed to pause their mortgage payments. Some analysts were concerned that once the forbearance program ended, the housing market would experience a wave of foreclosures like what happened after the housing bubble 15 years ago. Here’s a look at why that isn’t the case. 1. There Are Fewer Homeowners in Trouble This Time After the last housing crash, over nine million households lost their homes to a foreclosure, short sale, or because they gave it back to the...

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Why Waiting To Sell Your House Could Cost You a Small Fortune

Written by Marathon Florida Keys Mortgage on January 5, 2022. Posted in For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing, Selling Myths.

Many homeowners who plan to sell in 2022 may think the wise thing to do is to wait for the spring buying market since historically about 40 percent of home sales occur between April and July. However, this year’s expected to be much different than the norm. Here are five reasons to list your house now rather than waiting until the spring. 1. Buyers Are Looking Right Now, and They’re Ready To Purchase The ShowingTime Showing Index reports data from more than six million property showings scheduled across the country each month. In other words, it’s a gauge of how many buyers are out looking...

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Avoid the Rental Trap in 2022

Written by Marathon Florida Keys Mortgage on January 4, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Are you one of the many renters thinking about where you’ll live the next time your lease is up? Before you decide whether to look for a new house or another apartment, it’s important to understand the true costs of renting in 2022. As a renter, you should know rents have been rising since 1988 (see graph below): In 2021, rents grew dramatically. According to ApartmentList.com, since January 2021: “. . . the national median rent has increased by a staggering 17.8 percent. To put that in context, rent growth from January to November averaged just 2.6 percent in the pre-pandemic years from...

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How Much Do You Need for Your Down Payment?

Written by Marathon Florida Keys Mortgage on January 3, 2022. Posted in Buying Myths, Down Payments, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

As you set out on your homebuying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment? If you think you have to put 20% down, you may have set your goal based on a common misconception. Freddie Mac says: “The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.” Unless specified by your loan type or lender, it’s typically not required to put 20% down. According to the Profile of Home Buyers and Sellers from the National...

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Here’s to a Wonderful 2022!

Written by Marathon Florida Keys Mortgage on December 31, 2021. Posted in Holidays, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Time-sensitive, Uncategorized.

Content previously posted on Keeping Current Matters

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Why Selling Your House with a Real Estate Professional Is Essential

Written by Marathon Florida Keys Mortgage on December 30, 2021. Posted in For Sellers, FSBOs, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Selling your house is no simple task. And when you sell on your own – known as a FSBO (or For Sale by Owner) – you’re responsible for handling some of the more difficult aspects of the process without the expert guidance you need. The 2021 Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveys homeowners who recently sold their house on their own and asks what difficulties they faced. Those sellers say some of the biggest headaches are prepping their house for sale, pricing it right, and handling the required paperwork. Working with an agent is the best...

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Expert Insights on the 2022 Housing Market

Written by Marathon Florida Keys Mortgage on December 29, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022. Odeta Kushi, Deputy Chief Economist, First American: “Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.” Danielle Hale, Chief Economist, realtor.com: “Affordability will increasingly be a challenge...

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5 Tips for Making Your Best Offer on a Home

Written by Marathon Florida Keys Mortgage on December 28, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to help you rise above the competition. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it: “This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.” Showing...

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Key Things To Avoid After Applying for a Mortgage

Written by Marathon Florida Keys Mortgage on December 27, 2021. Posted in Buying Myths, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Once you’ve found your dream home and applied for a mortgage, there are some key things to keep in mind before you close. It’s exciting to start thinking about moving in and decorating your new place, but before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan. Here’s a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process. 1. Don’t Deposit Cash...

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Thank You for All of Your Support

Written by Marathon Florida Keys Mortgage on December 24, 2021. Posted in Holidays, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Time-sensitive, Uncategorized.

Content previously posted on Keeping Current Matters

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When a House Becomes a Home

Written by Marathon Florida Keys Mortgage on December 23, 2021. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

It’s clear that owning a home makes financial sense. But lately, the emotional side of what drives homeownership is becoming increasingly important. No matter the living space, the feeling of a home means different things to different people. Whether it’s a familiar scent or a favorite chair, the feel-good connections to our own homes can be more important to us than the financial ones. Here are some of the reasons why. 1. Owning your home is an accomplishment worth celebrating You’ve put in a lot of work to achieve the dream of homeownership, and whether it’s your first home or your fifth,...

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The Perks of Putting 20% Down on a Home

Written by Marathon Florida Keys Mortgage on December 22, 2021. Posted in Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re thinking of buying a home, you’re probably wondering what you need to save for your down payment. Is it 20% of the loan, or could you put down less? While there are lower down payment programs available that allow qualified buyers to put down as little as 3.5%, it’s important to understand the many perks that come with a 20% down payment. Here are four reasons why putting 20% down may be a great option if it works within your budget. 1. Your Interest Rate May Be Lower A 20% down payment vs. a 3-5% down payment shows your lender you’re more financially stable and not a large credit...

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The Average Homeowner Gained $56,700 in Equity over the Past Year

Written by Marathon Florida Keys Mortgage on December 21, 2021. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

When you think of homeownership, what’s the first thing that comes to mind? Chances are you might focus on the non-financial benefits, like the security or stability a home provides. But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters. For a homeowner, your equity is the current value of your home minus what you owe on the loan. So, as home values climb, your equity does too. That’s exactly what’s happening today. There aren’t enough homes on the market to meet buyer demand, so bidding...

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Homebuyers: Be Ready To Act This Winter

Written by Marathon Florida Keys Mortgage on December 20, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

To succeed as a buyer in today’s market, it’s important to understand which market trends will have the greatest impact on your home search. Danielle Hale, Chief Economist at realtor.com, says there are two factors every buyer should keep their eyes on: “Going forward, the conditions buyers face are primarily dependent on two things: mortgage rates and housing supply.” Here’s a look at each one. Mortgage Rates Projected To Rise in 2022 As a buyer, your interest rate directly impacts how much you’ll pay on your monthly mortgage when you purchase a home. Rates are beginning to rise, and experts...

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2022 Housing Market Forecast [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on December 17, 2021. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Some Highlights What does the coming year hold for the housing market? Here’s what experts project for 2022. Mortgage rates are projected to rise and so are home prices. Experts are forecasting buyer demand will remain strong as people try to capitalize on rates and prices before they climb, creating another strong year for home sales. Let’s connect so you can make your best move in the new year. Content previously posted on Keeping Current Matters

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Homebuyers Are Going on a Shopping Spree This Winter

Written by Marathon Florida Keys Mortgage on December 16, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Black Friday and Cyber Monday are over, which means some shoppers have wrapped up their holiday buying. But there’s still a group of buyers that are very active this holiday season – homebuyers. Experts anticipate the real estate market will see a flurry of activity this winter, and that’s great news for today’s sellers. If you’re planning on listing your home, there’s no need to wait until the spring for better conditions – today’s real estate market is already heating up. Buyers Have Warmed Up to the Idea of Purchasing This Winter The past 18 months brought about significant lifestyle changes...

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What Everyone Wants To Know: Will Home Prices Decline in 2022?

Written by Marathon Florida Keys Mortgage on December 15, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’re thinking of buying a home in today’s housing market, you may be wondering how strong your investment will be. You might be asking yourself: if I buy a home now, will it lose value? Or will it continue to appreciate going forward? The good news is, according to the experts, home prices are not projected to decline. Here’s why. With buyers still outweighing sellers, home prices are forecast to continue climbing in 2022, just at a slower or more moderate pace. Why the continued increase? It’s the simple law of supply and demand. When there are fewer items on the market than there are...

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