Category: For Buyers

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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...

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...

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...

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...