Sellers: Your House Could Be an Oasis for Buyers Seeking More Options

Written by Marathon Florida Keys Mortgage on October 18, 2021. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Sellers have a great opportunity this season as buyer demand still heavily outweighs the current supply of homes for sale. According to the National Association of Realtors (NAR), today’s housing inventory sits at only a 2.6-month supply. To put that into perspective, a neutral market typically features a 6-month supply. That places today’s market firmly in the sellers’ market category. That same NAR data also shows today’s inventory of single-family homes is trailing behind the level we saw last year (see graph below):Because of the ongoing supply challenges, buyers can feel like they’re...

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Homebuyer Tips for Finding the One [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 15, 2021. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Some Highlights The best advice carries across multiple areas of life. When it comes to homebuying, a few simple tips can help you stay on track. Because of increased demand, you’ll need to be patient and embrace compromises during your search. Then, once you’ve fallen in love, commit by putting your best offer forward. If you’re looking to buy a home this year, let’s connect so you have a dedicated partner and teammate to help you find the one. Content previously posted on Keeping Current Matters

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What Do Past Years Tell Us About Today’s Real Estate Market?

Written by Marathon Florida Keys Mortgage on October 14, 2021. Posted in For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

As you follow the news, you’re likely seeing headlines discussing what’s going on in today’s housing market. Chances are high that some of the more recent storylines you’ve come across mention terms like cooling or slowing when talking about where the market is headed. But what do these terms mean? The housing market today is anything but normal, and it’s still an incredibly strong sellers’ market, especially when compared to the few years leading up to the pandemic. With that in mind, what can previous years tell us about today’s real estate market and if it’s truly slowing? We’re Still Seeing...

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The Big Question: Should You Renovate or Move?

Written by Marathon Florida Keys Mortgage on October 13, 2021. Posted in For Buyers, For Sellers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

The last 18 months changed what many buyers are looking for in a home. Recently, the American Institute of Architects released their AIA Home Design Trends Survey results for Q3 2021. The survey reveals the following: 70% of respondents want more outdoor living space 69% of respondents want a home office (48% wanted multiple offices) 46% of respondents want a multi-function room/flexible space 42% of respondents want an au pair/in-law suite 39% of respondents want an exercise room/yoga space If you’re a homeowner who wants to add any of the above, you have two options: renovate your current...

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Don’t Wait for a Lower Mortgage Rate – It Could Cost You

Written by Marathon Florida Keys Mortgage on October 12, 2021. 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.

Today’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn’t over just yet. If you’re one of the buyers who worry they’ve missed out, rest assured today’s mortgage rates are still worth taking advantage of. Even today, our mortgage rates are below what they’ve been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you’re still in a great position to secure a rate well...

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Experts Agree: Homeownership Provides a Path to Long-Term Wealth

Written by Marathon Florida Keys Mortgage on October 11, 2021. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

A recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead of renting. Some of the most popular non-financial reasons given include: The flexibility to make the space your own The pride homeownership offers The sense of stability In the same survey, 41% of respondents say they’d rather own a home than rent because of the unique way homeownership builds wealth over time. And experts agree – the home you own is an important tool for building your net worth. Here’s what many of those experts have to say about building long-term...

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What’s Causing Today’s Competitive Real Estate Market? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 8, 2021. Posted in For Sellers, Housing Market Updates, Infographics, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Millennials, New Construction.

Some Highlights Today’s strong sellers’ market is the direct result of high demand and low supply. Low mortgage rates and generational trends have created an increased demand for homes. Meanwhile, the slower pace of new home construction and homeowners staying in their homes longer have both led to today’s low supply. If you’re thinking of selling, let’s connect to talk about our local area and how you can take advantage of today’s housing market. Content previously posted on Keeping Current Matters

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111,285 Reasons You Should Buy a Home This Year

Written by Marathon Florida Keys Mortgage on October 7, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Rent vs. Buy.

The financial benefits of buying a home versus renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner. According to the latest research from the National Association of Realtors (NAR): “Homeownership is a key pathway to building wealth and narrowing the racial income and wealth inequality gap. Housing wealth (equity) accumulation takes time and is built up by price appreciation and paying off the mortgage.” An increase in equity builds the wealth of the individual that owns it. This wealth can be passed down...

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What Do Supply and Demand Tell Us About Today’s Housing Market?

Written by Marathon Florida Keys Mortgage on October 6, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

There’s a well-known economic theory – the law of supply and demand – that explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is very low, prices can rise significantly. Understanding the impact both supply and demand have can provide the answers to a few popular questions about today’s housing market: Why are prices rising? Where are prices headed? What does this mean for homebuyers? Why Are Prices Rising? According...

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The Main Key To Understanding the Rise in Mortgage Rates

Written by Marathon Florida Keys Mortgage on October 5, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Every Thursday, Freddie Mac releases the results of their Primary Mortgage Market Survey which reveals the most recent movement in the 30-year fixed mortgage rate. Last week, the rate was announced as 3.01%. It was the first time in three months that the mortgage rate surpassed 3%. In a press release accompanying the survey, Sam Khater, Chief Economist at Freddie Mac, explains: “Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June.” The reason Khater mentions the 10-year U.S. Treasury yield is because there has been...

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4 Tips To Prep for Your Home Sale This Fall

Written by Marathon Florida Keys Mortgage on October 4, 2021. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

Even in a hot sellers’ market like today’s in which homes are selling so quickly, it’s still important to make a good first impression on potential buyers. Taking the time upfront to prep your house appropriately can bring in the greatest return on your investment. Here are four simple tips to make sure you maximize the sale of your house this fall. 1. Price It Right One of the first things buyers will notice is the price of your house. That’s why it’s important to price it right. Your goal in pricing your house is to draw attention from competing buyers and let bidding wars push the final...

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Reasons Renters Buy [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on October 1, 2021. Posted in First Time Home Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Some Highlights When deciding whether you should rent or buy, make sure you’re considering these factors. Buying a home means consistent monthly payments. Homeownership also helps to build your wealth. And owning a home gives you greater flexibility than renting. If you’re ready to take advantage of the perks of homeownership, let’s connect to explore your options. Content previously posted on Keeping Current Matters

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As Home Equity Rises, So Does Your Wealth

Written by Marathon Florida Keys Mortgage on September 30, 2021. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Homeownership is still a crucial part of the American dream. For those people who own a home (and those looking to buy one), it’s clear that being a homeowner has considerable benefits both emotionally and financially. In addition to long-term stability, buying a home is one of the best ways to increase your net worth. This boost to your wealth comes in the form of equity. Equity is the difference between what you owe on the home and its market value based on factors like price appreciation. The best thing about equity is that it often grows without you even realizing it, especially in a...

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Don’t Tackle Selling Your Home on Your Own – an Agent Can Help

Written by Marathon Florida Keys Mortgage on September 29, 2021. Posted in For Sellers, FSBOs, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

If you’re looking to maximize your sale and minimize your effort, you need to work with a real estate professional. In a sellers’ market like today’s, it can be tempting to list your house on your own – known as For Sale By Owner (FSBO). But the truth is, a real estate professional can save you time and money by managing every step of the process, from pricing your home to reviewing documents and handling negotiations. Before you decide to sell your house on your own, here are five reasons why working with an agent is your best bet to maximize the sale of your home. 1. First impressions are...

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Early October is the Sweet Spot for Buyers

Written by Marathon Florida Keys Mortgage on September 28, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Are you looking to buy a home? If so, we’ve got good news for you. While there’s no denying the housing market is having a great year, many of the headlines are focused on the perks for sellers. But what about buyers today? As a buyer, you’re likely braving bidding wars and weighing low mortgage rates versus price appreciation as you search for your dream home. If you find yourself a bit discouraged, hear this: there are clear signs buyers may have more opportunities this fall. According to realtor.com, the sweet spot for buyers is just around the corner. In a recent study, experts analyzed...

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If You’re a Buyer, Is Offering Asking Price Enough?

Written by Marathon Florida Keys Mortgage on September 27, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle. Things Are Different Today Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are: Receiving an average of 3.8 offers Selling in just 17 days Homes selling quickly...

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It’s Still a Sellers’ Market [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 24, 2021. Posted in For Sellers, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Some Highlights Due to low supply and high demand, today is one of the strongest sellers’ markets we’ve seen. Sellers can benefit from more offers to pick from, higher home values, and a faster sales process. That might be why 73% of people believe it’s a good time to sell. Sellers, don’t miss out on this unique opportunity. Let’s connect so you can take advantage of this hot sellers’ market. Content previously posted on Keeping Current Matters

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Two Reasons Why Waiting a Year To Buy Could Cost You

Written by Marathon Florida Keys Mortgage on September 23, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home. To determine if you should buy now or wait, you need to ask yourself two simple questions: What will home prices be like in 2022? Where will mortgage rates be by the end of 2022? Let’s shed some light on the answers to both of these questions. What will home prices be like in 2022? Three major housing industry entities project continued home price appreciation for 2022....

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Is a 20% Down Payment Really Necessary To Purchase a Home?

Written by Marathon Florida Keys Mortgage on September 22, 2021. Posted in Buying Myths, Demographics, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Millennials.

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle. That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you’re able can benefit buyers, putting 20% down is not mandatory. As Freddie Mac puts it: “The most damaging down payment myth—since it stops the homebuying process...

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Remote Work Is Here To Stay. Can Your Home Deliver the Space You Need?

Written by Marathon Florida Keys Mortgage on September 21, 2021. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

A lot has changed over the past year. For many people, the rise in remote work influenced what they’re looking for in a home and created a greater appetite for a dedicated home office. Some professionals took advantage of the situation and purchased a bigger home. Other people thought working from home would be temporary, so they chose to get creative and make the space they already had work for them. But recent headlines indicate working from home isn’t a passing fad. If you’re still longing for a dedicated home office, now may be the time to find the home that addresses your evolving needs....

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Is It Time To Move on to a New Home?

Written by Marathon Florida Keys Mortgage on September 20, 2021. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’ve been in your home for longer than five years, you’re not alone. According to recent data from First American, homeowners are staying put much longer than historical averages (see graph below):As the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has more than doubled to over 10 years. The housing industry refers to this as your tenure. To really explore tenure, it’s important to understand what drives people to make a move. An article from The Balance explores some of the primary reasons individuals choose to sell their...

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Have You Ever Seen a Housing Market Like This? [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on September 17, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Some Highlights Whether you’re buying or selling – today’s housing market has plenty of good news to go around. Buyers can take advantage of today’s mortgage rates to escape rising rents and keep monthly payments affordable. Sellers can reap the benefits of multiple offers and a fast sale. If this sounds like good news to you, let’s connect today so you can capitalize on the unique opportunity you have in today’s market. Content previously posted on Keeping Current Matters

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