What Do Supply and Demand Tell Us About Today’s Housing Market?

Written by Destin FL Mortgage Mortgage Syndicated User on October 6, 2021. Posted in Destin FL Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Destin FL, Move-Up Buyers, Pricing.

There’s a well-known economic theory – the law of supply and demand – that explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is very low, prices can rise significantly. Understanding the impact both supply and demand have can provide the answers to a few popular questions about today’s housing market: Why are prices rising? Where are prices headed? What does this mean for homebuyers? Why Are Prices Rising? According...

The Main Key To Understanding the Rise in Mortgage Rates

Written by Destin FL Mortgage Mortgage Syndicated User on October 5, 2021. Posted in Destin FL Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Destin FL, Move-Up Buyers.

Every Thursday, Freddie Mac releases the results of their Primary Mortgage Market Survey which reveals the most recent movement in the 30-year fixed mortgage rate. Last week, the rate was announced as 3.01%. It was the first time in three months that the mortgage rate surpassed 3%. In a press release accompanying the survey, Sam Khater, Chief Economist at Freddie Mac, explains: “Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June.” The reason Khater mentions the 10-year U.S. Treasury yield is because there has been a...

Reasons Renters Buy [INFOGRAPHIC]

Written by Destin FL Mortgage Mortgage Syndicated User on October 1, 2021. Posted in Destin FL Mortgage, First Time Home Buyers, For Buyers, Infographics, Mortgage Destin FL, Rent vs. Buy.

Some Highlights When deciding whether you should rent or buy, make sure you’re considering these factors. Buying a home means consistent monthly payments. Homeownership also helps to build your wealth. And owning a home gives you greater flexibility than renting. If you’re ready to take advantage of the perks of homeownership, let’s connect to explore your options. Content previously posted on Keeping Current Matters

As Home Equity Rises, So Does Your Wealth

Written by Destin FL Mortgage Mortgage Syndicated User on September 30, 2021. Posted in Destin FL Mortgage, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Mortgage Destin FL, Move-Up Buyers, Pricing.

Homeownership is still a crucial part of the American dream. For those people who own a home (and those looking to buy one), it’s clear that being a homeowner has considerable benefits both emotionally and financially. In addition to long-term stability, buying a home is one of the best ways to increase your net worth. This boost to your wealth comes in the form of equity. Equity is the difference between what you owe on the home and its market value based on factors like price appreciation. The best thing about equity is that it often grows without you even realizing it, especially in a sellers’...

Early October is the Sweet Spot for Buyers

Written by Destin FL Mortgage Mortgage Syndicated User on September 28, 2021. Posted in Destin FL Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Destin FL, Move-Up Buyers.

Are you looking to buy a home? If so, we’ve got good news for you. While there’s no denying the housing market is having a great year, many of the headlines are focused on the perks for sellers. But what about buyers today? As a buyer, you’re likely braving bidding wars and weighing low mortgage rates versus price appreciation as you search for your dream home. If you find yourself a bit discouraged, hear this: there are clear signs buyers may have more opportunities this fall. According to realtor.com, the sweet spot for buyers is just around the corner. In a recent study, experts analyzed...

If You’re a Buyer, Is Offering Asking Price Enough?

Written by Destin FL Mortgage Mortgage Syndicated User on September 27, 2021. Posted in Buying Myths, Destin FL Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Destin FL, Move-Up Buyers.

In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle. Things Are Different Today Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are: Receiving an average of 3.8 offers Selling in just 17 days Homes selling quickly...

Two Reasons Why Waiting a Year To Buy Could Cost You

Written by Destin FL Mortgage Mortgage Syndicated User on September 23, 2021. Posted in Buying Myths, Destin FL Mortgage, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Destin FL, Move-Up Buyers, Pricing.

If you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home. To determine if you should buy now or wait, you need to ask yourself two simple questions: What will home prices be like in 2022? Where will mortgage rates be by the end of 2022? Let’s shed some light on the answers to both of these questions. What will home prices be like in 2022? Three major housing industry entities project continued home price appreciation for 2022....

Is a 20% Down Payment Really Necessary To Purchase a Home?

Written by Destin FL Mortgage Mortgage Syndicated User on September 22, 2021. Posted in Buying Myths, Demographics, Destin FL Mortgage, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Millennials, Mortgage Destin FL.

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle. That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you’re able can benefit buyers, putting 20% down is not mandatory. As Freddie Mac puts it: “The most damaging down payment myth—since it stops the homebuying process before...

Remote Work Is Here To Stay. Can Your Home Deliver the Space You Need?

Written by Destin FL Mortgage Mortgage Syndicated User on September 21, 2021. Posted in Destin FL Mortgage, For Buyers, For Sellers, Mortgage Destin FL, Move-Up Buyers.

A lot has changed over the past year. For many people, the rise in remote work influenced what they’re looking for in a home and created a greater appetite for a dedicated home office. Some professionals took advantage of the situation and purchased a bigger home. Other people thought working from home would be temporary, so they chose to get creative and make the space they already had work for them. But recent headlines indicate working from home isn’t a passing fad. If you’re still longing for a dedicated home office, now may be the time to find the home that addresses your evolving needs....

Is It Time To Move on to a New Home?

Written by Destin FL Mortgage Mortgage Syndicated User on September 20, 2021. Posted in Destin FL Mortgage, For Buyers, For Sellers, Mortgage Destin FL, Move-Up Buyers.

If you’ve been in your home for longer than five years, you’re not alone. According to recent data from First American, homeowners are staying put much longer than historical averages (see graph below):As the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has more than doubled to over 10 years. The housing industry refers to this as your tenure. To really explore tenure, it’s important to understand what drives people to make a move. An article from The Balance explores some of the primary reasons individuals choose to sell their...

Category: For Buyers