Category: For Buyers

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Will Home Prices Fall This Year? Here’s What Experts Say.

Written by Melbourne FL Mortgage Syndicated User on May 11, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers, Pricing.

Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals. What’s Happening with Home Prices? Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says: “Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.” So why are prices climbing so much? It’s because there are more buyers...

How Today’s Mortgage Rates Impact Your Home Purchase

Written by Melbourne FL Mortgage Syndicated User on May 10, 2022. Posted in First Time Home Buyers, For Buyers, Interest Rates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers, Pricing.

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan. In a rising-rate environment like we’re in today, that could limit your future purchasing power. Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say...

2022 Housing Market Forecast [INFOGRAPHIC]

Written by Melbourne FL Mortgage Syndicated User on May 7, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers, Pricing.

Some Highlights What does the rest of the year hold for the housing market? Here’s what experts have to say about what lies ahead. Home prices are projected to rise and so are mortgage rates. Experts are also forecasting another strong year for home sales as people move to meet their changing needs. Let’s connect so you can make your best move this year. Content previously posted on Keeping Current Matters

Three Tips for First-Time Homebuyers

Written by Melbourne FL Mortgage Syndicated User on May 6, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

Buying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you’re looking to purchase your first home, you may be wondering what’s happening in the housing market today, how much you need to save, and where to start. Here are three things that can help give you the information you need to confidently pursue your dream of homeownership. 1. Consider All Options When the Number of Homes for Sale Is Low Today, there are far more buyers in the market than there are homes available for...

Things That Could Help You Win a Bidding War on a Home

Written by Melbourne FL Mortgage Syndicated User on May 4, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers, Pricing.

With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below): The same report from NAR shows the average buyer made two offers before getting their third offer accepted. In this type of competitive housing market, it’s important to know what levers you can pull to help you beat the...

Myths About Today’s Housing Market [INFOGRAPHIC]

Written by Melbourne FL Mortgage Syndicated User on April 29, 2022. Posted in Buying Myths, For Buyers, For Sellers, Infographics, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Selling Myths.

Some Highlights If you’re planning to buy or sell a home today, it’s important to be aware of common misconceptions. Whether it’s timing your purchase as a buyer based on home prices and mortgage rates or knowing what to upgrade or repair before listing your house as a seller, it takes a professional to guide you through those decisions. Let’s connect so you have an expert to help separate fact from fiction in today’s housing market. Content previously posted on Keeping Current Matters

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

Written by Melbourne FL Mortgage Syndicated User on April 29, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Move-Up Buyers.

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...

How Homeownership Can Help Shield You from Inflation

Written by Melbourne FL Mortgage Syndicated User on April 29, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Pricing.

If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile. If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should continue down that path or if it makes more sense to wait. While the answer depends on your situation, here’s how homeownership can help you...

The Dream of Homeownership Is Worth the Effort

Written by Melbourne FL Mortgage Syndicated User on April 29, 2022. Posted in First Time Home Buyers, For Buyers, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

If you’re in the market to buy a home this season, stick with it. Homebuyers face challenges in any market, and today’s is no exception. But if you persevere, your decision to purchase a home will be worth the effort in the end. In fact, a recent survey from Bankrate shows homeownership is so powerful that: “Nearly three in four homeowners say they would still buy their current home if they had it to do [sic] all over again.” That means the results – owning a home and the benefits that come with it – outweigh the effort needed to achieve their goal. If you’re a homebuyer, let that...

How To Approach Rising Mortgage Rates as a Buyer

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...