Why Summer Is a Great Time To Buy a Vacation Home

Written by Marathon Florida Keys Mortgage on May 26, 2022. Posted in For Buyers, Luxury Market, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

You may be someone who looks forward to summer each year because it gives you an opportunity to rest, unwind, and enjoy more quality time with your loved ones. Now that summer is just around the corner, it’s worthwhile to start thinking about your plans and where you want to spend your vacations this year. Here are a few reasons a vacation home could be right for you. Why You May Want To Consider a Vacation Home Today Over the past two years, a lot has changed. You may be one of many people who now work from home and have added flexibility in where you live. You may also be someone who delayed...

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How Buying or Selling a Home Benefits the Economy and Your Community

Written by Marathon Florida Keys Mortgage on May 25, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a large impact on your community too? To measure that impact, the National Association of Realtors (NAR) releases a report each year to highlight just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy: As the visual shows, a single home sale can have a significant effect on the overall economy. To dive a level deeper, NAR also provides a...

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Sellers Have an Opportunity with Today’s Home Prices

Written by Marathon Florida Keys Mortgage on May 25, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend. According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green: This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand...

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Sellers Have an Opportunity as Home Prices Re-Accelerate

Written by Marathon Florida Keys Mortgage on May 24, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

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Work With a Real Estate Professional if You Want the Best Advice

Written by Marathon Florida Keys Mortgage on May 23, 2022. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Because buying or selling a home is such a big decision in our lives, the need for clear, trustworthy information and guidance is crucial. And while no one can give you perfect advice, when you align yourself with an expert, you’ll get the best advice for your situation. An Expert Will Give You the Best Advice Possible Let’s say you need an attorney, so you seek out an expert in the type of law required for your case. When you go to their office, they won’t immediately tell you how the case is going to end or how the judge or jury will rule. What a good attorney can do, though, is discuss...

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Don’t Let Rising Inflation Delay Your Homeownership Plans [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on May 20, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If recent headlines about rising inflation are making you wonder if it’s still a good time to buy, here’s what experts have to say. Housing is an asset that typically grows in value. Plus, your mortgage helps stabilize your monthly housing costs, and buying protects you from rising rents. Experts say owning a home is historically a good hedge against inflation. Let’s connect if you’re ready to start the homebuying process today. Content previously posted on Keeping Current Matters

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The One Thing Every Homeowner Needs To Know About a Recession

Written by Marathon Florida Keys Mortgage on May 19, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession, and if true, an economic slowdown doesn’t mean homes will lose value. The National Bureau of Economic Research (NBER) defines a recession this way: “A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches...

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How Homeownership Can Bring You Joy

Written by Marathon Florida Keys Mortgage on May 18, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

If you’re trying to decide whether to rent or buy a home, you’re probably weighing a few different factors. The financial benefits of homeownership might be one of the reasons you want to make a purchase if you’re a renter, but the decision can also be motivated by having a place that’s uniquely your own. If you want to express yourself by upgrading and customizing your living space but are feeling held back by your rental agreement, it might be time to consider the perks of owning your home. A Little Change Can Bring Lots of Joy There’s a significant level of pride that comes from owning...

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Why Rising Mortgage Rates Push Buyers off the Fence

Written by Marathon Florida Keys Mortgage on May 17, 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.

If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans. Today, buyers are reacting in one of two ways: they’re either making the decision to buy now before rates climb higher or they’re waiting it out in hopes rates will fall. Let’s look at some context that can help you understand why so many buyers are jumping off the fence and into action rather than waiting to buy. A...

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If You’re a Homeowner, You Have Incredible Leverage When You Sell Today

Written by Marathon Florida Keys Mortgage on May 16, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

In today’s housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation. That’s because there’s a limited number of homes for sale, which is creating competition among buyers. Right now, homebuyers want three things: To be the winning bid on their dream home To buy before mortgage rates rise more To buy before home prices go even higher These buyer needs give you an amazing advantage – also known as leverage – when you sell. What Does This Mean for Sellers Today? You might already realize this enables you to sell at a good...

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Should You Update Your House Before Selling? Ask a Real Estate Professional. [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on May 13, 2022. Posted in For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Some Highlights If you’re deciding whether you should make updates before you sell your house, lean on your trusted real estate advisor to be your guide. In today’s sellers’ market, buyers have limited options and may be more willing to take on repairs themselves. If you’re thinking about selling your house, let’s connect so you have expert advice that’s customized to your home and our local area. Content previously posted on Keeping Current Matters

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What You Actually Need To Know About the Number of Foreclosures in Today’s Housing Market

Written by Marathon Florida Keys Mortgage on May 12, 2022. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

While you may have seen recent stories about the volume of foreclosures today, context is important. During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The goal was to help homeowners financially during the uncertainty created by the health crisis. When the forbearance program began, many experts were concerned it would result in a wave of foreclosures coming to the market, as there was after the housing crash in 2008. Here’s a look at why the number of foreclosures we’re seeing today is nothing like the last time. 1. There Are Fewer...

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Are There More Homes Coming to the Market?

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

According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today. If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search. Early Signs Inventory May Be Growing The latest data from realtor.com shows the number of listings coming onto the market, known...

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Will Home Prices Fall This Year? Here’s What Experts Say.

Written by Marathon Florida Keys Mortgage on May 10, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals. What’s Happening with Home Prices? Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says: “Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.” So why are prices climbing so much? It’s because there are more buyers than...

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How Today’s Mortgage Rates Impact Your Home Purchase

Written by Marathon Florida Keys Mortgage on May 10, 2022. Posted in First Time Home Buyers, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan. In a rising-rate environment like we’re in today, that could limit your future purchasing power. Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say...

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Three Tips for First-Time Homebuyers

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

Buying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you’re looking to purchase your first home, you may be wondering what’s happening in the housing market today, how much you need to save, and where to start. Here are three things that can help give you the information you need to confidently pursue your dream of homeownership. 1. Consider All Options When the Number of Homes for Sale Is Low Today, there are far more buyers in the market than there are homes available for sale....

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Your House Could Be Closer to List-Ready Than You Think

Written by Marathon Florida Keys Mortgage on May 4, 2022. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

One of the biggest concerns for a homeowner looking to sell is the time they’ll have to put in before listing their house. If that’s the case for you, you should know – your home might be closer to list-ready than you think in today’s housing market. A survey of recent sellers from realtor.com finds that many were able to get their house ready in less than a month. It says: “With many homeowners expecting a quick sale, and in many cases a lack of contingencies, the preparation process took less than a month for over 50% of home sellers this past year, with 20% completing it in less than two...

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Things That Could Help You Win a Bidding War on a Home

Written by Marathon Florida Keys Mortgage on May 3, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below): The same report from NAR shows the average buyer made two offers before getting their third offer accepted. In this type of competitive housing market, it’s important to know what levers you can pull to help you beat the competition....

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Today’s Home Price Appreciation Is Great News for Existing Homeowners

Written by Marathon Florida Keys Mortgage on May 2, 2022. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’re planning to sell your home this season, rising prices are great news for you. But it’s important to understand why prices are rising to begin with. One major factor is supply and demand. In any industry, when there are more buyers for an item than there are of that item available, prices naturally rise. In those situations, buyers are willing to pay more to get the product or service they’re looking for when options are scarce. And that’s exactly what’s happening in the current real estate market. Selma Hepp, Executive, Research & Insights and Deputy Chief Economist at CoreLogic,...

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Give Your Curb Appeal a Boost Before You Sell [INFOGRAPHIC]

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

Some Highlights If you’re thinking about selling your house this season, focusing on a few quick and easy updates outside can help your home look its best. 78% of real estate agents polled say poor landscaping affects property values. As a seller, that means your yard could impact your bottom line. When getting your house ready to sell, let’s connect to discuss what you should do to make sure your house shows well and catches the eyes of more potential buyers. Content previously posted on Keeping Current Matters

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What You Need To Know About Selling in a Sellers’ Market

Written by Marathon Florida Keys Mortgage on April 28, 2022. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Even if you haven’t been following real estate news, you’ve likely heard about the current sellers’ market. That’s because there’s a lot of talk about how strong market conditions are for people who want to sell their houses. But if you’re thinking about listing your house, you probably want to know: what does being in a sellers’ market really mean? What Is a Sellers’ Market? The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still very low. There’s a 2-month supply of homes at the current sales pace. Historically, a 6-month supply...

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The Dream of Homeownership Is Worth the Effort

Written by Marathon Florida Keys Mortgage on April 27, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re in the market to buy a home this season, stick with it. Homebuyers face challenges in any market, and today’s is no exception. But if you persevere, your decision to purchase a home will be worth the effort in the end. In fact, a recent survey from Bankrate shows homeownership is so powerful that: “Nearly three in four homeowners say they would still buy their current home if they had it to do [sic] all over again.” That means the results – owning a home and the benefits that come with it – outweigh the effort needed to achieve their goal. If you’re a homebuyer, let that provide...

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