The Latest on the Luxury Home Market

Written by West Palm Beach Mortgage Syndicated User on September 6, 2024. Posted in Buying Tips, For Buyers, Luxury / Vacation, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Luxury living is about more than just stunning views and cutting-edge smart home technology—it’s about elevating your lifestyle. And if you’re in the market for a million-dollar home, now is an excellent time to explore the thriving luxury market. Here’s why.The Number of Luxury Homes Is GrowingThe top of the market, or luxury homes, can mean different things depending on where you live. But in general, these are homes that are in the top 5% price range in any area. According to a recent report from Redfin, the average value of those homes has risen to over one million dollars:“The...

Could a 55+ Community Be Right for You?

Written by West Palm Beach Mortgage Syndicated User on September 3, 2024. Posted in Buying Tips, For Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

If you’re thinking about downsizing, you may be hearing about 55+ communities and wondering if they’d be a good fit for you. Here’s some information that could help you make your decision.What Is a 55+ Community?It’s important to note that these communities aren’t just for people who need extra support – they can be pretty vibrant, too. Many people who are downsizing opt for this type of home because they’re looking to be surrounded by people in a similar season of life. U.S. News explains:“The terms ‘55-plus community,’ ‘active adult community,’ ‘lifestyle communities’ and ‘planned communities’...

Today’s Biggest Housing Market Myths

Written by West Palm Beach Mortgage Syndicated User on August 23, 2024. Posted in Buying Tips, Economy, For Buyers, Mortgage Rates, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Have you ever heard the phrase: don’t believe everything you hear? That’s especially true if you’re thinking about buying or selling a home in today’s housing market. There’s a lot of misinformation out there. And right now, making sure you have someone you can go to for trustworthy information is extra important.If you partner with a real estate agent, they can clear up some common misconceptions and reassure you by backing them up with research-driven facts. Here are just a few misconceptions they can help disprove.1. I’ll Get a Better Deal Once Prices CrashIf you’ve heard home prices are...

What Credit Score Do You Really Need To Buy a House?

Written by West Palm Beach Mortgage Syndicated User on August 16, 2024. Posted in Agent Value, Buying Tips, First-Time Buyers, For Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

When you’re thinking about buying a home, your credit score is one of the biggest pieces of the puzzle. Think of it like your financial report card that lenders look at when trying to figure out if you qualify, and which home loan will work best for you. As the Mortgage Report says:“Good credit scores communicate to lenders that you have a track record for properly managing your debts. For this reason, the higher your score, the better your chances of qualifying for a mortgage.”The trouble is most buyers overestimate the minimum credit score they need to buy a home. According...

Why the Sandwich Generation Is Buying Multi-Generational Homes

Written by West Palm Beach Mortgage Syndicated User on August 2, 2024. Posted in Buying Tips, For Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Are you a part of the Sandwich Generation? According to Realtor.com, that’s a name for the roughly one in six Americans who take care of their children and their parents or grandparents at the same time.If that sounds familiar to you, juggling all the responsibilities involved certainly must have its challenges. But it turns out there’s one pretty significant benefit: it can actually make it a bit easier for you to buy a home.How Can It Help You Buy a Home?Realtor.com asked members of the Sandwich Generation if they agree or disagree that taking care of children and parents at the same time...

A Newly Built Home May Actually Be More Budget-Friendly

Written by West Palm Beach Mortgage Syndicated User on July 25, 2024. Posted in Buying Tips, For Buyers, Home Prices, West Palm Beach Condo Financing, West Palm Beach Mortgage.

If you’re in the market to buy a home, there’s some exciting news for you. Many people assume that newly built homes are more expensive than existing ones (houses that have already been lived in), but that’s not always the case. In fact, exploring newly built homes can sometimes lead to more cost-effective options, especially today. Hard to believe, right? But the data doesn’t lie.Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option.Reason 1: Lower Median Prices for Newly Built HomesThe median sales price for newly...

How Affordability and Remote Work Are Changing Where People Live

Written by West Palm Beach Mortgage Syndicated User on July 23, 2024. Posted in Affordability, Buying Tips, For Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it.Consider Moving to a More Affordable AreaToday’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower. As Orphe Divounguy, Senior Economist at Zillow, explains:“Housing affordability has always mattered . . . and you’re seeing it across...

The Biggest Mistakes Homebuyers Are Making Right Now

Written by West Palm Beach Mortgage Syndicated User on July 20, 2024. Posted in Buying Tips, For Buyers, Infographics, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Some HighlightsWant to know the biggest mistakes homebuyers are making today?They include everything from putting off pre-approval for too long, holding out for the perfect home, buying more than they can afford, and skipping out on hiring a pro. Connect with a real estate agent to make sure you have a pro on your side who can help you avoid these mistakes.

Unlocking Homebuyer Opportunities in 2024

Written by West Palm Beach Mortgage Syndicated User on July 19, 2024. Posted in Buying Tips, For Buyers, Home Prices, Inventory, West Palm Beach Condo Financing, West Palm Beach Mortgage.

There’s no arguing this past year has been difficult for homebuyers. And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt like too much to tackle. You’re not alone in that. A Bright MLS study found some of the top reasons buyers paused their search in late 2023 and early 2024 were:They couldn’t find anything in their price rangeThey didn’t have any successful offers or had difficulty competingThey couldn’t find the right homeIf any of these sound like why you stopped looking, here’s what you...

How To Determine if You’re Ready To Buy a Home

Written by West Palm Beach Mortgage Syndicated User on July 17, 2024. Posted in Agent Value, Buying Tips, For Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more. And, you’re juggling how all of those things will impact the choice you’ll make.While housing market conditions are definitely a factor in your decision, your own personal situation and your finances matter too. As an article from NerdWallet says:“Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation,...

Category: Buying Tips