How Changing Mortgage Rates Can Affect You

Written by Siesta Key Mortgage Syndicated User on April 3, 2023. Posted in Buying Myths, For Buyers, Interest Rates, Mortgage Siesta Key, Siesta Key Mortgage.

The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power. The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment:Even a 0.5% change can have a big impact on your monthly payment. And since rates have been moving between 6% and 7% for a while now, you can see how it impacts your purchasing power as rates go down.What This Means for YouYou may be tempted...

Facts About Closing Costs [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on March 31, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

How Homeownership Is Life Changing for Many Women

Written by Siesta Key Mortgage Syndicated User on March 28, 2023. Posted in Demographics, First Time Home Buyers, For Buyers, Mortgage Siesta Key, Siesta Key Mortgage.

Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households.Why Is Homeownership So Important to Women?The rise in women pursuing homeownership hasn’t just made an impact on the housing market. It’s also been an asset for those buyers and their households. That’s because homeownership has many benefits, both financial and personal.On the financial side, housing proves to be the key to building...

Why Buying a Home Is a Sound Decision

Written by Siesta Key Mortgage Syndicated User on March 23, 2023. Posted in First Time Home Buyers, For Buyers, Mortgage Siesta Key, Move-Up Buyers, Pricing, Siesta Key Mortgage.

If you’re thinking about buying a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment. This year, we aren’t seeing home prices fall dramatically. As the year goes on, however, some markets may go up in value while others may lose value. That’s why it’s helpful to keep the long-term view in mind. Experts project a return to a steadier rate of price appreciation in the years that follow.Home Price Appreciation in the Years AheadOver 100 economists, investment...

Reasons To Consider Condos in Your Home Search

Written by Siesta Key Mortgage Syndicated User on March 22, 2023. Posted in First Time Home Buyers, For Buyers, Mortgage Siesta Key, Rent vs. Buy, Siesta Key Mortgage.

Are you having trouble finding a home that fits your needs and your budget? If so, you should know there’s an option worth considering – condominiums, also known as condos. According to Bankrate:“A condo can be a more affordable entry point to homeownership than a single-family home. And as a homeowner, you’ll build equity over time and have access to tax benefits that a renter wouldn’t.”That’s why expanding your search to include additional housing types, like condominiums, could help you accomplish your homeownership goals this spring, especially if you can be flexible about the space you...

What’s Ahead for Home Prices in 2023

Written by Siesta Key Mortgage Syndicated User on March 20, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Siesta Key, Move-Up Buyers, Rent vs. Buy, Siesta Key Mortgage.

Over the past year, home prices have been a widely debated topic. Some have said we’ll see a massive drop in prices and that this could be a repeat of 2008 – which hasn’t happened. Others have forecasted a real estate market that could see slight appreciation or depreciation depending on the area of the country. And as we get closer to the spring real estate market, experts are continuing to forecast what they believe will happen with home prices this year and beyond.Selma Hepp, Chief Economist at CoreLogic, says:“While 2023 kicked off on a more optimistic note for the U.S. housing market, recent...

Balancing Your Wants and Needs as a Homebuyer This Spring

Written by Siesta Key Mortgage Syndicated User on March 15, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Though there are more homes for sale now than there were at this time last year, there’s still an undersupply with fewer houses available than in more normal, pre-pandemic years. The Monthly Housing Market Trends Report from realtor.com puts it this way: “While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”The current housing shortage has an impact on how you search for a home this spring. With limited options on...

An Expert Gives You Clarity in Today’s Housing Market

Written by Siesta Key Mortgage Syndicated User on March 14, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Mortgage Siesta Key, Move-Up Buyers, Selling Myths, Siesta Key Mortgage.

The housing market has been going through shifts lately. That’s why it’s so important to work with an industry professional who can be your guide throughout the process.A real estate expert uses their knowledge of what’s really happening with home prices, housing supply, expert projections, and more to give you the best advice. Someone who can provide clarity like that is critical right now. Jay Thompson, Real Estate Industry Consultant, explains:“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry....

Buying a Home May Make More Sense Than Renting [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on March 10, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Mortgage Siesta Key, Rent vs. Buy, Siesta Key Mortgage.

4 Tips for Making Your Best Offer on a Home

Written by Siesta Key Mortgage Syndicated User on March 9, 2023. Posted in First Time Home Buyers, For Buyers, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Are you planning to buy a home this spring? Though things are more balanced than they were at the height of the pandemic, it’s still a sellers’ market. So, when you find the home you want to buy, remember these four tips to make your best offer.1. Lean on a Real Estate ProfessionalRely on an agent who can support your goals. As Bankrate notes:“. . . select the best real estate agent for your needs. They will be a critical part of your home buying process.”Agents are local market experts. They know what’s worked for other buyers in your area and what sellers may be looking for in an offer. It...

Category: For Buyers