3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008

Written by Siesta Key Mortgage Syndicated User on October 26, 2022. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage Siesta Key, Pricing, Siesta Key Mortgage.

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time. There’s Still a Shortage of Homes on the Market Today, Not a Surplus For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Supply...

Why the Forbearance Program Changed the Housing Market

Written by Siesta Key Mortgage Syndicated User on August 8, 2022. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Mortgage Siesta Key, Siesta Key Mortgage.

When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing bubble burst over a decade ago. Thankfully, the forbearance program changed that. It provided much-needed relief for homeowners so a foreclosure crisis wouldn’t happen again. Here’s why forbearance worked. Forbearance enabled nearly five million homeowners to get back on their feet in a time when having the security and protection of a home was more important than ever. Those in need were able to work...

3 Graphs To Show This Isn’t a Housing Bubble

Written by Siesta Key Mortgage Syndicated User on August 2, 2022. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage Siesta Key, Siesta Key Mortgage.

With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what’ll happen next. It’s only natural for concerns to creep in that it could be a repeat of what took place in 2008. The good news is, there’s concrete data to show why this is nothing like the last time. There’s a Shortage of Homes on the Market Today, Not a Surplus The supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate....

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

Written by Siesta Key Mortgage Syndicated User on May 12, 2022. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Mortgage Siesta Key, Siesta Key Mortgage.

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...

Why This Housing Market Is Not a Bubble Ready To Pop

Written by Siesta Key Mortgage Syndicated User on April 21, 2022. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage Siesta Key, Pricing, Siesta Key Mortgage.

Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream. Prior to the 1950s, less than half of the country owned their own home. However, after World War II, many returning veterans used the benefits afforded by the GI Bill to purchase a home. Since then, the percentage of homeowners throughout the country has increased to the current rate of 65.5%. That strong desire for homeownership has kept home values appreciating ever since. The...

There Won’t Be a Wave of Foreclosures in the Housing Market

Written by Siesta Key Mortgage Syndicated User on January 6, 2022. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Mortgage Siesta Key, Pricing, Siesta Key Mortgage.

When mortgage forbearance plans were first announced and the pandemic surged through the country in early 2020, many homeowners were allowed to pause their mortgage payments. Some analysts were concerned that once the forbearance program ended, the housing market would experience a wave of foreclosures like what happened after the housing bubble 15 years ago. Here’s a look at why that isn’t the case. 1. There Are Fewer Homeowners in Trouble This Time After the last housing crash, over nine million households lost their homes to a foreclosure, short sale, or because they gave it back to the...

Don’t Believe Everything You Read: The Truth Many Headlines Overlook

Written by Siesta Key Mortgage Syndicated User on November 23, 2021. Posted in Distressed Properties, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Interest Rates, Mortgage Siesta Key, Pricing, Siesta Key Mortgage.

There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise. With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we’ll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year. There are already alarmist headlines starting...

Why a Wave of Foreclosures Is Not on the Way

Written by Siesta Key Mortgage Syndicated User on November 4, 2021. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Mortgage Siesta Key, Pricing, Short Sales, Siesta Key Mortgage.

With forbearance plans coming to an end, many are concerned the housing market will experience a wave of foreclosures similar to what happened after the housing bubble 15 years ago. Here are a few reasons why that won’t happen. There are fewer homeowners in trouble this time After the last housing crash, about 9.3 million households lost their homes to a foreclosure, short sale, or because they simply gave it back to the bank. As stay-at-home orders were issued early last year, the fear was the pandemic would impact the housing industry in a similar way. Many projected up to 30% of all mortgage...

Category: Foreclosures