Gen Z: The Next Generation Is Making Moves in the Housing Market

Written by super22 on August 28, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Generation Z (Gen Z) is eager to put down their own roots and achieve financial independence. As a result, they’re turning to homeownership. According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), 30% of Gen Z buyers transitioned straight from living under their parents’ roofs to owning their own homes.If you’re a member of this generation, and you’re interested in pursuing your own dream of homeownership, here’s some information you may find helpful on why and where your peers are buying.The Reasons Gen Z Want To Become...

Today’s Housing Market Has Only Half the Usual Inventory [INFOGRAPHIC]

Written by super22 on August 25, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Some HighlightsThere are only about half the number of homes for sale compared to the last normal years in the market. That means buyers don’t have enough options right now. So, if you work with an agent to list your house, it should be in the spotlight. If you’re thinking of selling, get in touch with a local real estate agent so your house can stand out while there’s such a shortage of supply and buyers are craving more options.

More Jobs and Better Pay Leads to More Buyer Demand

Written by super22 on August 24, 2023. Posted in For Sellers, Housing Market Updates, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

There’s been talk about a recession for quite a while now. But the economy has been remarkably resilient. Why? One reason is employment and wages have stayed strong. Let’s look at the latest information on each one and why both are good news if you’re thinking about selling your house.More Jobs Are Being CreatedInstead of facing the job losses typical of any recession, the economy has been growing and adding jobs. According to the Bureau of Labor Statistics (BLS), 187,000 jobs were created in July, which is up from the 185,000 created in June. That means more people are finding work. In fact,...

Why You Need a True Expert in Today’s Housing Market

Written by super22 on August 23, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side. Whether you’re buying your first home or selling once again, it’s mission critical to work with an expert who can guide you through each unique step of the process. The reality is, not all agents operate the same way. To truly make a powerful and confident decision as you buy or sell a home, you need a real estate expert who uses their knowledge of what’s really happening with home prices, housing supply, industry...

Why You Don’t Need To Fear the Return of Adjustable-Rate Mortgages

Written by super22 on August 22, 2023. Posted in Buying Myths, For Buyers, Interest Rates, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

If you remember the housing crash back in 2008, you may recall just how popular adjustable-rate mortgages (ARMs) were back then. And after years of being virtually nonexistent, more people are once again using ARMs when buying a home. Let’s break down why that’s happening and why this isn’t cause for concern.Why ARMs Have Gained Popularity More RecentlyThis graph uses data from the Mortgage Bankers Association (MBA) to show how the percentage of adjustable-rate mortgages has increased over the past few years:As the graph conveys, after hovering around 3% of all mortgages in 2021, many more homeowners...

Why Median Home Sales Price Is Confusing Right Now

Written by super22 on August 21, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Pricing, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded.So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology...

Don’t Expect a Wave of Foreclosures [INFOGRAPHIC]

Written by super22 on August 18, 2023. Posted in Foreclosures, Infographics, Interest Rates, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Some HighlightsWith ongoing high inflation pushing up everyday costs, some people are worried that’ll create a flood of foreclosures. Here’s why that’s unlikely. Fewer people are seriously behind on mortgage payments right now. If foreclosures were going to rise a lot, more people would need to be late on their payments.Since most are paying on time, a wave isn’t coming. If you’re concerned about a flood of foreclosures, the data shows that’s not likely.

People Want Less Expensive Homes – And Builders Are Responding

Written by super22 on August 17, 2023. Posted in For Buyers, Housing Market Updates, Interest Rates, Pricing, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

In today’s housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low inventory. To overcome those challenges, many people are working with their agents to find less expensive homes. And with newly built homes making up a historically large percentage of the total available inventory today, that search often includes brand new homes.People Are Spending Less on Newly Built HomesThe graph below uses the latest information from the Census to show, in June, more of the...

Don’t Expect a Flood of Foreclosures

Written by super22 on August 16, 2023. Posted in Buying Myths, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

The rising cost of just about everything from groceries to gas right now is leading to speculation that more people won’t be able to afford their mortgage payments. And that’s creating concern that a lot of foreclosures are on the horizon. While it’s true that foreclosure filings have gone up a bit compared to last year, experts say a flood of foreclosures isn’t coming.Take it from Bill McBride of Calculated Risk. McBride is an expert on the housing market, and after closely following the data and market environment leading up to the crash, he was able to see the foreclosures coming in 2008....

Equity Is a Game Changer for Homeowners Looking To Sell

Written by super22 on August 15, 2023. Posted in For Sellers, Housing Market Updates, Move-Up Buyers, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

If you’re a homeowner, you might be torn on whether or not to sell your house right now. Maybe that’s because you don’t want to take on a higher mortgage rate on your next home. If that’s your biggest hurdle, understanding your equity may be exactly what you need to help you feel more comfortable making your move.What Equity Is and How It WorksEquity is the current value of your home minus what you owe on the loan. And recently, that equity has been growing far faster than you may expect.Over the last few years, home prices rose dramatically, and that gave your equity a big boost very quickly....

Tag: #upperkeysmortgages