Is the Shifting Market a Challenge or an Opportunity for Homebuyers?

Written by Siesta Key Mortgage Syndicated User on August 10, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer. But what was once your greatest challenge may now be your greatest opportunity. Today, data shows buyer demand is moderating in the wake of higher mortgage rates. Here are a few reasons why this shift in the housing market is good news for your homebuying plans. The Challenge There were many reasons for the limited number of homes on the market during...

Buying a Home May Make More Financial Sense Than Renting One

Written by Siesta Key Mortgage Syndicated User on August 3, 2022. Posted in First Time Home Buyers, For Buyers, Mortgage Siesta Key, Pricing, Rent vs. Buy, Siesta Key Mortgage.

If rising home prices leave you wondering if it makes more sense to rent or buy a home in today’s housing market, consider this. It’s not just home prices that have risen in recent years – rental prices have skyrocketed as well. As a recent article from realtor.com says: “The median rent across the 50 largest US metropolitan areas reached $1,876 in June, a new record level for Realtor.com data for the 16th consecutive month.” That means rising prices will likely impact your housing plans either way. But there are a few key differences that could make buying a home a more worthwhile option...

Why Are People Moving Today?

Written by Siesta Key Mortgage Syndicated User on August 1, 2022. Posted in First Time Home Buyers, For Buyers, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Buying a home is a major life decision. That’s true whether you’re purchasing for the first time or selling your house to fuel a move. And if you’re planning to buy a home, you might be hearing about today’s shifting market and wondering what it means for you. While mortgage rates are higher than they were at the start of the year and home prices are rising, you shouldn’t put your plans on hold based solely on market factors. Instead, it’s necessary to consider why you want to move and how important those reasons are to you. Here are two of the biggest personal motivators driving people to...

Three Reasons To Buy a Home in Today’s Shifting Market [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on July 29, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Some Highlights The housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about buying a home. Housing inventory is increasing, which means more options for your search. Plus, the intensity of bidding wars may ease as buyer demand moderates, leading to fewer homes selling above asking price. If you’re ready to buy a home, now may be the moment you’ve been waiting for. Let’s connect to start the homebuying process today. Content previously posted on Keeping Current Matters

Want To Buy a Home? Now May Be the Time.

Written by Siesta Key Mortgage Syndicated User on July 27, 2022. Posted in First Time Home Buyers, For Buyers, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

There are more homes for sale today than at any time last year. So, if you tried to buy a home last year and were outbid or out priced, now may be your opportunity. The number of homes for sale in the U.S. has been growing over the past four months as rising mortgage rates help slow the frenzy the housing market saw during the pandemic. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains why the shifting market creates a window of opportunity for you: “This is an opportunity for people with a secure job to jump into the market, when other people are a little...

A Window of Opportunity for Homebuyers

Written by Siesta Key Mortgage Syndicated User on July 26, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Mortgage rates are much higher today than they were at the beginning of the year, and that’s had a clear impact on the housing market. As a result, the market is seeing a shift back toward the range of pre-pandemic levels for buyer demand and home sales. But the transition back toward pre-pandemic levels isn’t a bad thing. In fact, the years leading up to the pandemic were some of the best the housing market has seen. That’s why, as the market undergoes this shift, it’s important to compare today not to the abnormal pandemic years, but to the most recent normal years to show how the current...

Great News About Housing Inventory [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on July 22, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Some Highlights Experts say the number of homes for sale is growing this year, and that can have a big impact on your move. If you’re planning to buy, additional options in today’s market may be just what you’ve been waiting for. More inventory means added opportunities to find the home of your dreams. Let’s connect so you have the latest information on available homes in our area. Content previously posted on Keeping Current Matters

Think Home Prices Are Going To Fall? Think Again

Written by Siesta Key Mortgage Syndicated User on July 21, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Siesta Key, Move-Up Buyers, Pricing, Siesta Key Mortgage.

Over the last two years, the rate of home prices appreciated at a dramatic pace. While that led to incredible equity gains for homeowners, it’s also caused some buyers to wonder if home prices will fall. It’s important to know the housing market isn’t a bubble about to burst, and home price growth is supported by strong market fundamentals. To understand why price declines are unlikely, it’s important to explore what caused home prices to rise so much recently, and where experts say home prices are headed. Here’s what you need to know. Home Prices Rose Significantly in Recent Years The graph...

Why Pre-Approval Is a Game Changer for Homebuyers

Written by Siesta Key Mortgage Syndicated User on July 19, 2022. Posted in First Time Home Buyers, For Buyers, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

If you’re planning to buy a home this year, you might have heard that pre-approval is a necessary step to take before starting out on your journey. But why is that? And is it still important in today’s shifting market? The truth is, getting a pre-approval letter from your lender is critical, and when it comes to your home search, it can be a game changer in so many ways. To better understand why, it’s important to know what pre-approval is. Freddie Mac defines the process like this: “A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money...

Should I Rent or Should I Buy? [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on July 15, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Mortgage Siesta Key, Rent vs. Buy, Siesta Key Mortgage.

Some Highlights It’s worth considering the many benefits of homeownership before you make the decision to rent or buy a home. When you buy, you can stabilize your housing costs, own a tangible asset, and grow your net worth as you gain equity. When you rent, you face rising housing costs, won’t see a return on your investment, and limit your ability to save. If you want to learn more about the benefits of homeownership, let’s connect today. Content previously posted on Keeping Current Matters

Category: First Time Home Buyers