What You Actually Need To Know About the Number of Foreclosures in Today’s Housing Market

Written by Melbourne FL Mortgage Syndicated User on May 12, 2022. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

While you may have seen recent stories about the volume of foreclosures today, context is important. During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The goal was to help homeowners financially during the uncertainty created by the health crisis. When the forbearance program began, many experts were concerned it would result in a wave of foreclosures coming to the market, as there was after the housing crash in 2008. Here’s a look at why the number of foreclosures we’re seeing today is nothing like the last time. 1. There Are Fewer...

Florida Mortgage | South Florida Real Estate market not keeping up with demand

Written by Melbourne FL Mortgage Syndicated User on May 11, 2022. Posted in Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

Florida Mortgage | South Florida Real Estate market not keeping up with demand. NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany

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 than...

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 sale....

Florida Mortgage | Florida Monthly Market Update

Written by Melbourne FL Mortgage Syndicated User on May 5, 2022. Posted in Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates.

Florida Mortgage | Florida Monthly Market Update NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany

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 competition....

Your House Could Be Closer to List-Ready Than You Think

Written by Melbourne FL Mortgage Syndicated User on May 4, 2022. Posted in For Sellers, Melbourne FL Condo Financing, Melbourne FL Mortgage, Melbourne FL Mortgage Rates, Selling Myths.

One of the biggest concerns for a homeowner looking to sell is the time they’ll have to put in before listing their house. If that’s the case for you, you should know – your home might be closer to list-ready than you think in today’s housing market. A survey of recent sellers from realtor.com finds that many were able to get their house ready in less than a month. It says: “With many homeowners expecting a quick sale, and in many cases a lack of contingencies, the preparation process took less than a month for over 50% of home sellers this past year, with 20% completing it in less than two...

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

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

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,...

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