Sellers Have Incredible Leverage in Today’s Market

Written by Siesta Key Mortgage Syndicated User on November 2, 2021. Posted in For Sellers, Housing Market Updates, Interest Rates, Mortgage Siesta Key, Move-Up Buyers, Pricing, Siesta Key Mortgage.

With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying: “Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.” But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. According to the latest Existing Home Sales Report from NAR: “From one year ago, the inventory of unsold homes decreased...

The Mortgage Process Doesn’t Have To Be Scary [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on October 29, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Some Highlights Applying for a mortgage is a big step towards homeownership, but it doesn’t need to be one you fear. Here are some tips to help you prepare. Know your credit score and work to build strong credit. When you’re ready, lean on your agent to connect you with a lender so you can get pre-approved and begin your home search. Any major life change can be scary, and buying a home is no different. Let’s connect so you have an advisor by your side to take the fear out of the equation. Content previously posted on Keeping Current Matters

Housing Challenge or Housing Opportunity? It Depends.

Written by Siesta Key Mortgage Syndicated User on October 28, 2021. Posted in For Sellers, Housing Market Updates, Interest Rates, Mortgage Siesta Key, Move-Up Buyers, Pricing, Siesta Key Mortgage.

The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we’ve experienced historically. There are many reasons for the limited number of homes on the market, but as you can see in the graph below, we’re well below where we’ve been for most of the past 10 years. Today, across the country, there is only a 2.4-month supply of homes available for sale. The Opportunity This lack of homes for sale is creating a challenge for many buyers who are growing frustrated...

There Are More Homes Available Now than There Were This Spring

Written by Siesta Key Mortgage Syndicated User on October 26, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

There’s a lot of talk lately about how challenging it can be to find a home to buy. While housing inventory is still low, there are a few important things to understand about the supply of homes for sale as we move into the end of the year. The Number of Homes for Sale Usually Peaks in the Fall In the residential real estate market, trends generally follow a predictable and seasonal pattern. Typically, the number of homes available for sale (or active monthly listings) peaks in the fall. But in a chapter where so little feels normal, the question becomes: should we expect a fall peak this year? If...

Knowledge Is Power When It Comes to Appraisals and Inspections

Written by Siesta Key Mortgage Syndicated User on October 25, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. But is that the best move? Buying a home is one of the most important transactions in your lifetime, and it’s critical to keep your best interests in mind. Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money,...

Your Home Equity Is Growing [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on October 22, 2021. Posted in For Sellers, Housing Market Updates, Infographics, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Some Highlights If you’re a homeowner, today’s rising equity is great news. On average, homeowners have gained $51,500 in equity since this time last year. Whether it’s funding an education, fueling your next move, or starting a business, your home equity is a great tool you can use to power your dreams. Ready to sell? Let’s connect to talk about how you can take advantage of your rising equity to reach your goals. Content previously posted on Keeping Current Matters

Looking To Move? It Could Be Time To Build Your Dream Home.

Written by Siesta Key Mortgage Syndicated User on October 20, 2021. Posted in For Buyers, For Sellers, Mortgage Siesta Key, Move-Up Buyers, New Construction, Siesta Key Mortgage.

While today’s supply of homes for sale is still low, the number of newly built homes is increasing. If you’re ready to sell but have held off because you weren’t sure you’d be able to find a home to move into, newly built homes and those under construction can provide the options you’ve been waiting for. The latest Census data shows the inventory of new homes is increasing this year (see graph below):With more new homes coming to the market, this means you’ll have more options to choose from if you’re ready to buy. Of course, if you do consider a newly built home, you’ll want to keep timing...

Homebuyer Tips for Finding the One [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on October 15, 2021. Posted in First Time Home Buyers, For Buyers, Infographics, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Some Highlights The best advice carries across multiple areas of life. When it comes to homebuying, a few simple tips can help you stay on track. Because of increased demand, you’ll need to be patient and embrace compromises during your search. Then, once you’ve fallen in love, commit by putting your best offer forward. If you’re looking to buy a home this year, let’s connect so you have a dedicated partner and teammate to help you find the one. Content previously posted on Keeping Current Matters

The Big Question: Should You Renovate or Move?

Written by Siesta Key Mortgage Syndicated User on October 13, 2021. Posted in For Buyers, For Sellers, Interest Rates, Mortgage Siesta Key, Move-Up Buyers, Pricing, Siesta Key Mortgage.

The last 18 months changed what many buyers are looking for in a home. Recently, the American Institute of Architects released their AIA Home Design Trends Survey results for Q3 2021. The survey reveals the following: 70% of respondents want more outdoor living space 69% of respondents want a home office (48% wanted multiple offices) 46% of respondents want a multi-function room/flexible space 42% of respondents want an au pair/in-law suite 39% of respondents want an exercise room/yoga space If you’re a homeowner who wants to add any of the above, you have two options: renovate your current...

Don’t Wait for a Lower Mortgage Rate – It Could Cost You

Written by Siesta Key Mortgage Syndicated User on October 12, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

Today’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn’t over just yet. If you’re one of the buyers who worry they’ve missed out, rest assured today’s mortgage rates are still worth taking advantage of. Even today, our mortgage rates are below what they’ve been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you’re still in a great position to secure a rate well...

Category: Move-Up Buyers