Applying for a Mortgage Doesn’t Have To Be Scary [INFOGRAPHIC]

Written by super22 on October 28, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Some Highlights Even with higher mortgage rates, the mortgage process doesn’t need to be something you fear. Here are some steps to help as you set out to buy a home. Know your credit score and work to build strong credit. When you’re ready, lean on the pros and connect with a lender so you can get pre-approved and begin your home search. Any major life change can be scary, and buying a home is no different. Let’s connect so you have an advisor by your side to take fear out of the equation. Content previously posted on Keeping Current Matters

3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008

Written by super22 on October 26, 2022. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Pricing, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time. There’s Still a Shortage of Homes on the Market Today, Not a Surplus For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Supply...

What Happens to Housing when There’s a Recession?

Written by super22 on October 25, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would rebound quickly. As the 2022 CEO Outlook from KPMG says: “Global CEOs see a ‘mild and short’ recession, yet optimistic about global economy over 3-year horizon . . . More than 8 out of 10 anticipate a recession over the next 12 months, with more than half expecting it to be mild and short.” To add...

Pre-Approval Is a Critical First Step on Your Homebuying Journey

Written by super22 on October 24, 2022. 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 planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months ago, getting a mortgage pre-approval can be a game changer. Here’s why. What Is Pre-Approval? To better understand why pre-approval is key, it’s important to know what pre-approval is. The Mortgage Reports explains it like this: “When you’re ready to take the leap into homeownership, your first step is mortgage preapproval. . . . A mortgage preapproval is when a lender determines you’re qualified...

What’s Ahead for Home Prices?

Written by super22 on October 20, 2022. 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.

As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward? While opinions differ, the most likely outcome is we’ll fall somewhere in the middle of slight appreciation and slight depreciation. Here’s a look at the latest expert projections so you have the best information possible today. What...

Should You Still Buy a Home with the Latest News About Inflation?

Written by super22 on October 19, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%. This news impacted the stock market and added fuel to the fire for conversations about a recession. You’re likely feeling the impact in your day-to-day life as you watch the cost of goods and services climb. The pinch it’s creating on your wallet and the looming economic uncertainty may leave you wondering: “should I still buy a home right now?” If that question is top of mind for you, here’s what you need to know. Homeownership Is Historically a Great...

The Latest on Supply and Demand in Housing

Written by super22 on October 18, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point. The graph below helps tell the story of just how different things are today. This year, buyer demand has eased as higher mortgage rates and mounting economic uncertainty moderated the market. This slowdown in demand is clear when you look at the red bar on the graph. It uses the latest data from ShowingTime to illustrate how showings (an indicator of buyer demand)...

Category: For Buyers