Where Will You Go If You Sell? Newly Built Homes Might Be the Answer.

Written by super22 on June 29, 2023. Posted in For Buyers, Move-Up Buyers, New Construction, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Do you want to sell your house, but hesitate because you’re worried you won’t be able to find your next home in today’s market? You’re not alone, but there’s some good news that may ease your worries. New home construction is up and is becoming an increasingly significant part of the housing inventory.That means when you go to put your house on the market this summer, considering newly built homes is crucial for expanding the options you’ll have for your next move.Near-Record Percentage of New Home InventoryNewly built homes today make up a near-record percentage of the total number of...

Lending Standards Are Not Like They Were Leading Up to the Crash

Written by super22 on June 28, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008. One of which is how lending standards are different today. Here’s a look at the data to help prove it. Every month, the Mortgage Bankers Association (MBA) releases the Mortgage Credit Availability Index (MCAI). According to their website:“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is . . . a summary measure which indicates the availability of mortgage credit at a point in time.”Basically,...

Why Homeownership Wins in the Long Run

Written by super22 on June 27, 2023. Posted in First Time Home Buyers, For Buyers, Pricing, Rent vs. Buy, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to think about the long-term benefits of homeownership when making your decision.Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own...

Homeownership Helps Protect You from Inflation [INFOGRAPHIC]

Written by super22 on June 23, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Rent vs. Buy, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Some HighlightsWondering if it makes sense to buy a home today even when inflation is high? When other costs go up due to inflation, buying a home helps you keep your monthly housing expense steady.Rents typically increase with inflation. Maybe that’s why, according to a recent survey, 65.1% of landlords say they plan to raise the rent of at least one of their properties within the next 12 months.Especially when inflation is up, having a stable housing payment can be helpful. Connect with a local real estate agent so you can learn more and start your journey to owning a home today.

What Homebuyers Need To Know About Credit Scores

Written by super22 on June 22, 2023. Posted in First Time Home Buyers, For Buyers, Move-Up Buyers, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, to pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from Bankrate explains: “Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms...

Why the Median Home Price Is Meaningless in Today’s Market

Written by super22 on June 20, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Pricing, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

The National Association of Realtors (NAR) will release its latest Existing Home Sales (EHS) report later this week. This monthly report provides information on the sales volume and price trend for previously owned homes. In the upcoming release, it’ll likely say home prices are down. This may feel a bit confusing, especially if you’ve been following along and seeing the blogs saying that home prices have bottomed out and turned a corner.So, why will this likely say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each report....

Saving for a Down Payment? Here’s What You Need To Know.

Written by super22 on June 19, 2023. Posted in Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

If you’re planning to buy your first home, then you’re probably focused on saving for all the costs involved in such a big purchase. One of the expenses that may be at the top of your mind is your down payment. If you’re intimidated by how much you need to save for that, it may be because you believe you must put 20% down. That doesn’t necessarily have to be the case. As the National Association of Realtors (NAR) notes:“One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.”And a recent Freddie...

How Owning a Home Grows Your Wealth with Time [INFOGRAPHIC]

Written by super22 on June 16, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers, Pricing, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Some HighlightsIf you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership.Over time, homeownership allows you to build equity. On average, nationwide home prices appreciated by 290.2% over the last 32 years.That means your net worth can grow significantly in the long term when you own a home. Reach out to a real estate professional so you can start your homebuying journey today.

Why Buying or Selling a Home Helps the Economy and Your Community

Written by super22 on June 15, 2023. Posted in For Buyers, For Sellers, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

If you’re thinking about buying or selling a house, it’s important to know that it doesn’t just affect your life, but also your community.The National Association of Realtors (NAR) releases a report every year to show how much economic activity is generated by home sales. The chart below illustrates that impact:As the visual shows, when a house is sold, it can make a big difference in the local economy. The impact comes largely from the workers required to build, update, and buy and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB),...

A Drop in Equity Doesn’t Mean Low Equity

Written by super22 on June 14, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

You may see media coverage talking about a drop in homeowner equity. What’s important to understand is that equity is tied closely to home values. So, when home prices appreciate, you can expect equity to grow. And when home prices decline, equity does too. Here’s how this has played out recently. Home prices rose rapidly during the ‘unicorn’ years. That gave homeowners a considerable equity boost. But those ‘unicorn’ years couldn’t last forever. The market had to moderate at some point, and that’s what we saw last fall and winter. As home prices dropped slightly in the back half of 2022, equity...

Category: For Buyers