Have Home Values Hit Bottom?

Written by Siesta Key Mortgage Syndicated User on January 18, 2023. Posted in For Buyers, For Sellers, Mortgage Siesta Key, Pricing, Siesta Key Mortgage.

Whether you’re already a homeowner or you’re looking to become one, the recent headlines about home prices may leave you with more questions than answers. News stories are talking about home prices falling, and that’s raising concerns about a repeat of what happened to prices in the crash in 2008.

Think Twice Before Waiting for 3% Mortgage Rates

Written by Siesta Key Mortgage Syndicated User on January 17, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.

What Past Recessions Tell Us About the Housing Market

Written by Siesta Key Mortgage Syndicated User on January 16, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Mortgage Siesta Key, Siesta Key Mortgage.

It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says:

Key Terms To Know When Buying a Home [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on January 13, 2023. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Wondering How Much You Need To Save for a Down Payment?

Written by Siesta Key Mortgage Syndicated User on January 3, 2023. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Mortgage Siesta Key, Siesta Key Mortgage.

If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don’t let a common misconception about how much you need to save make the process harder than it could be. Understand 20% Isn’t Always the Typical Down Payment Freddie Mac explains: “. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.” Unless specified by your loan type or...

What Are Your Goals in the Housing Market This Year?

Written by Siesta Key Mortgage Syndicated User on January 2, 2023. Posted in First Time Home Buyers, For Buyers, Interest Rates, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus. In the last year, high inflation had a big impact on the economy, the housing market, and likely on your wallet too. That’s why it’s critical to have a clear understanding of not just the market today, but also what you want out of it when you buy or sell a home. Danielle Hale, Chief Economist at realtor.com, explains: “The key to making a good decision in this...

Applying For a Mortgage? Here’s What You Should Avoid Once You Do.

Written by Siesta Key Mortgage Syndicated User on December 28, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Mortgage Siesta Key, Siesta Key Mortgage.

While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just home-related purchases that could disqualify you from...

Confused About What’s Going on in the Housing Market? Lean on a Professional.

Written by Siesta Key Mortgage Syndicated User on December 27, 2022. Posted in Buying Myths, For Buyers, For Sellers, Mortgage Siesta Key, Selling Myths, Siesta Key Mortgage.

If you’re thinking about buying or selling a home, you probably want to know what’s really happening with home prices, mortgage rates, housing supply, and more. That’s not an easy task considering how sensationalized headlines are today. 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. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.” Unfortunately,...

Financial Fundamentals for First-Time Homebuyers

Written by Siesta Key Mortgage Syndicated User on December 26, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Mortgage Siesta Key, Siesta Key Mortgage.

Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home. Build Your Credit Your credit is one element that helps determine which home loan you’ll qualify for. It also impacts your mortgage interest rate. While there are many factors that go into your mortgage application, a higher credit score could lead to a lower monthly payment in the long run. So how do you make sure your credit is in the best...

What Makes a House a Home?

Written by Siesta Key Mortgage Syndicated User on December 22, 2022. Posted in First Time Home Buyers, For Buyers, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy. While the financial aspects of buying a home are important, the non-financial and emotional reasons are too. Home means something different to all of us. Whether it’s sharing memories with loved ones at the kitchen table or settling in to read a book in a favorite chair, the emotional connections to our homes can be just as important as the financial ones. Here are some of the things that make a house a home. 1. You Can Be Proud of Your Accomplishment Buying...

Category: For Buyers