Today’s Home Price Appreciation Is Great News for Existing Homeowners

Written by West Palm Beach Mortgage Syndicated User on May 3, 2022. Posted in For Sellers, Housing Market Updates, Move-Up Buyers, Pricing, West Palm Beach Condo Financing, West Palm Beach Mortgage.

If you’re planning to sell your home this season, rising prices are great news for you. But it’s important to understand why prices are rising to begin with. One major factor is supply and demand. In any industry, when there are more buyers for an item than there are of that item available, prices naturally rise. In those situations, buyers are willing to pay more to get the product or service they’re looking for when options are scarce. And that’s exactly what’s happening in the current real estate market. Selma Hepp, Executive, Research & Insights and Deputy Chief Economist at CoreLogic,...

Is It Enough To Offer Asking Price in Today’s Housing Market?

Written by West Palm Beach Mortgage Syndicated User on April 26, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer’s bid and the home’s initial asking price. In today’s real estate market, buyers shouldn’t shop for a home with the same expectations. Things Are Different Today Today’s housing market is anything but normal. According...

How To Approach Rising Mortgage Rates as a Buyer

Written by West Palm Beach Mortgage Syndicated User on April 21, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead. If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. How Rising Mortgage Rates Impact You Mortgage rates play a significant...

Why Pre-Approval Is an Important Step for Today’s Homebuyers

Written by West Palm Beach Mortgage Syndicated User on April 20, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Being intentional and competitive are musts when buying a home this season. That’s why pre-approval is so important today. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Peter Warden, Editor of The Mortgage Reports, explains: “The lender will check out your personal finances and issue you a letter confirming the amount you’re eligible to borrow. This not only gives you a firm budget for house hunting, but also lets sellers know you’re qualified to make an offer.” Why does that matter so much today? There are many more...

What Is Multigenerational Housing? [INFOGRAPHIC]

Written by West Palm Beach Mortgage Syndicated User on April 16, 2022. Posted in Baby Boomers, Buying Myths, Demographics, First Time Home Buyers, For Buyers, Gen Z, Generation X, Infographics, Millennials, Move-Up Buyers, Senior Market, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Some Highlights If you have additional loved ones coming to live with you but don’t have enough space, it may be time to consider a larger, multigenerational home. Some key benefits of multigenerational living include a combined homebuying budget, shared caregiving duties, enhanced relationships, and more. These benefits might be why more people are choosing to live in multigenerational homes today. Let’s connect so you can find a house that meets your changing needs and has plenty of space for you and your loved ones. Content previously posted on Keeping Current Matters

On the Fence of Whether or Not To Move This Spring? Consider This.

Written by West Palm Beach Mortgage Syndicated User on April 15, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

If you’re thinking of selling your house, it may be because you’ve heard prices are rising, listings are going fast, and sellers are getting multiple offers on their homes. But why are conditions so good for sellers today? And what can you expect when you move? To help answer both of those questions, let’s turn to the data. Today, there are far more buyers looking for homes than sellers listing their houses. Here are the maps of the latest buyer and seller traffic from the National Association of Realtors (NAR) to help paint the picture of what this looks like: Notice how much darker the blues...

Using Your Tax Refund To Achieve Your Homeownership Goals This Year

Written by West Palm Beach Mortgage Syndicated User on April 12, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

If you’re buying or selling a home this year, you’re likely saving up for a variety of expenses. For buyers, that might include things like your down payment and closing costs. And for sellers, you’re probably working on a bit of spring cleaning and maintenance to spruce up your house before you list it. Either way, any money you get back from your taxes can help you achieve your goals. Using a tax refund is a common tactic for buyers and sellers. SmartAsset estimates the average American will receive a $2,897 tax refund this year. The map below provides a more detailed estimate by state: If...

Do You Know How Much Equity You Have in Your Home? [INFOGRAPHIC]

Written by West Palm Beach Mortgage Syndicated User on April 9, 2022. Posted in For Sellers, Housing Market Updates, Infographics, Move-Up Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Some Highlights If you’re a homeowner, your net worth has gotten a big boost. That’s because recent home price appreciation has increased your equity. Your equity grows as you pay down your loan and as your home increases in value. Over the past year, the average homeowner’s equity grew by $55,300. Ready to sell? Let’s connect to talk about how you can use that equity to fuel your next move. Content previously posted on Keeping Current Matters

The Future of Home Price Appreciation and What It Means for You

Written by West Palm Beach Mortgage Syndicated User on April 8, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing, West Palm Beach Condo Financing, West Palm Beach Mortgage.

Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will lead to a situation similar to the housing crash 15 years ago. However, experts say the market is totally different today. For example, Odeta Kushi, Deputy Chief Economist at First American, tweeted just last week on this issue: “. . . We do need price appreciation to slow today (it’s not sustainable over the long run) but high price growth today is supported by fundamentals- short supply, lower rates & demographic demand. And we are in a...

What You Need To Budget for When Buying a Home

Written by West Palm Beach Mortgage Syndicated User on April 6, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers, West Palm Beach Condo Financing, West Palm Beach Mortgage.

When it comes to buying a home, it can feel a bit intimidating to know how much you need to save and where to find that information. But you should know, you’re not expected to have all the answers yourself. There are many trusted professionals who can help you understand your finances and what you’ll need to budget for throughout the process. To get you started, here are a few things experts say you should plan for along the way. 1. Down Payment As you set your savings goal for your purchase, your down payment is likely already top of mind. And, like many other people, you may believe you...

Category: Move-Up Buyers