Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off

Written by Miramar Beach FL Mortgage Syndicated User on June 1, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Miramar Beach Mortgage, Mortgage Miramar Beach FL, Pricing.

Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common definition of the word:“Something that is greatly desired but difficult or impossible to find.” The pandemic profoundly changed real estate over the last few...

Why Buying a Home Makes More Sense Than Renting Today

Written by Miramar Beach FL Mortgage Syndicated User on May 1, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Miramar Beach Mortgage, Mortgage Miramar Beach FL, Rent vs. Buy.

Wondering if you should continue renting or if you should buy a home this year? If so, consider this. Rental affordability is still a challenge and has been for years. That’s because, historically, rents trend up over time. Data from the Census shows rents have been climbing pretty steadily since 1988. And, data from the latest rental report from Realtor.com shows rents continue to grow today, even though it’s at a slower pace than we saw at the height of the pandemic:“In March 2023, the U.S. rental market experienced single-digit growth for the eighth month in a row . . . The median asking...

Ways To Overcome Affordability Challenges in Today’s Housing Market [INFOGRAPHIC]

Written by Miramar Beach FL Mortgage Syndicated User on May 1, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Interest Rates, Miramar Beach Mortgage, Mortgage Miramar Beach FL, Move-Up Buyers, Pricing.

Some HighlightsWith so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget.You can also work with a trusted lender to consider alternative financing options and search for down payment assistance.If you’ve been searching for a home but are concerned about rising costs, make sure you have a team of trusted real estate professionals for expert advice.

The Three Factors Affecting Home Affordability Today

Written by Miramar Beach FL Mortgage Syndicated User on May 1, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Miramar Beach Mortgage, Mortgage Miramar Beach FL, Move-Up Buyers, Pricing.

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages.Considering how each one of these factors is changing gives you the full picture of home affordability today. Here’s the latest.1. Mortgage RatesWhile mortgage rates are higher than they were a year ago, they’ve hovered primarily between...

Facts About Closing Costs [INFOGRAPHIC]

Written by Miramar Beach FL Mortgage Syndicated User on April 1, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Miramar Beach Mortgage, Mortgage Miramar Beach FL, Move-Up Buyers.

One Major Benefit of Investing in a Home

Written by Miramar Beach FL Mortgage Syndicated User on March 1, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Miramar Beach Mortgage, Mortgage Miramar Beach FL, Move-Up Buyers.

One of the many reasons to buy a home is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac:

What You Should Know About Rising Mortgage Rates

Written by Miramar Beach FL Mortgage Syndicated User on March 1, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Miramar Beach Mortgage, Mortgage Miramar Beach FL, Move-Up Buyers.

After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down.

Homeownership Builds Your Wealth over Time [INFOGRAPHIC]

Written by Miramar Beach FL Mortgage Syndicated User on February 1, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Miramar Beach Mortgage, Mortgage Miramar Beach FL, Move-Up Buyers, Pricing.

Applying For a Mortgage? Here’s What You Should Avoid Once You Do.

Written by Miramar Beach FL Mortgage Syndicated User on January 1, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Miramar Beach Mortgage, Mortgage Miramar Beach FL.

While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just home-related purchases that could disqualify you...

What You Want To Know If You’re Pursuing Your Dream of Homeownership

Written by Miramar Beach FL Mortgage Syndicated User on December 1, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Gen Z, Housing Market Updates, Millennials, Miramar Beach Mortgage, Mortgage Miramar Beach FL, Move-Up Buyers.

If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead. And if homeownership ranks high on your goal sheet, you’re in good company. Many of your peers are also pursuing their dream of owning a home. The 2022 Millennial & Gen Z Borrower Sentiment Report from Maxwell says: “Many young adults have demonstrated their resolve to embark on the journey toward homeownership soon. More than half of millennials and Gen Zs plan to apply for a mortgage sometime within the next year.” Let’s take a look at why homeownership makes the top of so...

Category: For Buyers