Why Did More People Decide To Sell Their Homes Recently?

Written by Destin FL Mortgage Mortgage Syndicated User on October 17, 2024. Posted in Buying Tips, Destin FL Mortgage, For Buyers, Mortgage Destin FL, Mortgage Rates.

Homeowners typically slow down their moving plans as the summer months wrap up, and as a result, fewer homes are listed for sale in the fall. It’s a predictable, seasonal trend in real estate. But this year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.As the green circle in the graph below shows, the...

The Benefits of Using Your Equity To Make a Bigger Down Payment

Written by Destin FL Mortgage Mortgage Syndicated User on October 16, 2024. Posted in Affordability, Destin FL Mortgage, Equity, For Buyers, Home Prices, Mortgage Destin FL, Mortgage Rates.

Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has led...

Why an Agent Is Essential When Buying a Newly Built Home

Written by Destin FL Mortgage Mortgage Syndicated User on October 15, 2024. Posted in Agent Value, Buying Tips, Destin FL Mortgage, For Buyers, Mortgage Destin FL.

For some buyers, there’s a misconception that newly built homes aren’t made to last or fall short of the quality you can find in older homes. Unfortunately, this is turning some buyers away from what may be one of their best options in today’s housing market. As Builder Online says:“As resale inventory remains limited and the price spread between new and resale homes narrows, new homes are increasingly an attractive value proposition for buyers, with incentives such as rate buydowns a way to help address ongoing affordability challenges.”So, is there any merit to the myth? Let’s break down the...

Why a Condo Could Be Your Perfect First Home

Written by Destin FL Mortgage Mortgage Syndicated User on October 14, 2024. Posted in Destin FL Mortgage, For Buyers, Mortgage Destin FL.

If you’re looking to break into homeownership but the price of single-family homes has you second-guessing, you might want to consider a condominium (condo) or townhome. These types of homes often come with a lower barrier to entry – and that can help you start to build equity and enjoy the benefits of owning a home sooner.Since they’re usually smaller than single-family homes, they can be easier on your wallet. While it’s not always the case, smaller square footage usually comes with a smaller price tag too. As a result, according to the latest data from Realtor.com, condos typically...

Buying Beats Renting in These Top Cities

Written by Destin FL Mortgage Mortgage Syndicated User on October 11, 2024. Posted in Destin FL Mortgage, For Buyers, Infographics, Mortgage Destin FL, Rent vs. Buy.

Some HighlightsBased on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment.Make sure you work with a pro who can help you crunch the numbers and see how your city stacks up. This may be your opportunity to forget renting for good. If you want to see which option makes the most sense in your area, connect with a local agent.

Home Values Rise Even as Median Prices Fall

Written by Destin FL Mortgage Mortgage Syndicated User on October 3, 2024. Posted in Destin FL Mortgage, For Buyers, For Sellers, Home Prices, Mortgage Destin FL.

Recent headlines have been buzzing about the median asking price of homes dropping compared to last year, and that’s sparked plenty of confusion. And as a buyer or seller, it’s easy to assume that means prices are coming down. But here’s the catch: those numbers don’t tell the full story.Nationally, home values are actually rising, even if the median price is down a bit. Let’s break down what’s really happening so you can make sense of the market without getting caught up in the fear the headlines create.Homes on the Market Right Now Are SmallerThe biggest reason for the dip in median price...

This Is the Sweet Spot Homebuyers Have Been Waiting For

Written by Destin FL Mortgage Mortgage Syndicated User on October 2, 2024. Posted in Destin FL Mortgage, For Buyers, Mortgage Destin FL, Mortgage Rates.

After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move. With rates trending down, today’s market is a sweet spot for buyers—and it’s one that may not last long.So, if you’ve put your own move on the back burner, here’s why maybe you shouldn’t delay your plans any longer.As you weigh your options and decide if you should buy now or wait, ask yourself this: What do you think everyone else is going to do?The truth is, if mortgage rates continue to ease, as experts project, more...

Buying Beats Renting in 22 Major U.S. Cities

Written by Destin FL Mortgage Mortgage Syndicated User on September 30, 2024. Posted in Affordability, Destin FL Mortgage, For Buyers, Home Prices, Inventory, Mortgage Destin FL, Mortgage Rates.

That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments (see chart below):As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a home than to rent one in many parts of the country.This is a big deal if you’ve been renting for a while now. But if you don’t see your city on this list, don’t sweat it. Things are moving fast, and your area might...

Buy Now, or Wait?

Written by Destin FL Mortgage Mortgage Syndicated User on September 27, 2024. Posted in Buying Tips, Destin FL Mortgage, For Buyers, Infographics, Mortgage Destin FL, Mortgage Rates.

Some HighlightsIf you’re wondering if you should buy now or wait, here’s what you need to know. If you wait for rates to drop more, you’ll have to deal with more competition and higher prices as additional buyers jump back in. But if you buy now, you’d get ahead of that and have the chance to start building equity.Should you buy now or wait? Connect with a real estate agent and talk through it together, so you can make your best decision.

Don’t Fall for These Real Estate Agent Myths

Written by Destin FL Mortgage Mortgage Syndicated User on September 26, 2024. Posted in Agent Value, Buying Tips, Destin FL Mortgage, For Buyers, For Sellers, Mortgage Destin FL, Selling Tips.

When it’s time to buy or sell a home, one of the most important decisions you’ll make is who you’ll work with as your agent. That choice will have an impact on your entire experience and how smoothly it goes.As you figure out who you’ll partner with, it’s important to know what to expect and what to look for. Unfortunately, there may be some myths holding you back from making the best decision possible. So, let’s take some time to address those, and make sure you have the information you need to find the right agent for you.Myth #1: All Real Estate Agents Are the SameYou might think all agents...

Category: For Buyers