Is a 20% Down Payment Really Necessary To Purchase a Home?

Written by Siesta Key Mortgage Syndicated User on September 23, 2021. Posted in Buying Myths, Demographics, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Millennials, Mortgage Siesta Key, Siesta Key Mortgage.

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle. That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you’re able can benefit buyers, putting 20% down is not mandatory. As Freddie Mac puts it: “The most damaging down payment myth—since it stops the homebuying process before...

Two Reasons Why Waiting a Year To Buy Could Cost You

Written by Siesta Key Mortgage Syndicated User on September 23, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Siesta Key, Move-Up Buyers, Pricing, Siesta Key Mortgage.

If you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home. To determine if you should buy now or wait, you need to ask yourself two simple questions: What will home prices be like in 2022? Where will mortgage rates be by the end of 2022? Let’s shed some light on the answers to both of these questions. What will home prices be like in 2022? Three major housing industry entities project continued home price appreciation for 2022....

Have You Ever Seen a Housing Market Like This? [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on September 23, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Mortgage Siesta Key, Rent vs. Buy, Siesta Key Mortgage.

Some Highlights Whether you’re buying or selling – today’s housing market has plenty of good news to go around. Buyers can take advantage of today’s mortgage rates to escape rising rents and keep monthly payments affordable. Sellers can reap the benefits of multiple offers and a fast sale. If this sounds like good news to you, let’s connect today so you can capitalize on the unique opportunity you have in today’s market. Content previously posted on Keeping Current Matters

Is It Time To Move on to a New Home?

Written by Siesta Key Mortgage Syndicated User on September 23, 2021. Posted in For Buyers, For Sellers, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

If you’ve been in your home for longer than five years, you’re not alone. According to recent data from First American, homeowners are staying put much longer than historical averages (see graph below):As the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has more than doubled to over 10 years. The housing industry refers to this as your tenure. To really explore tenure, it’s important to understand what drives people to make a move. An article from The Balance explores some of the primary reasons individuals choose to sell their...

Remote Work Is Here To Stay. Can Your Home Deliver the Space You Need?

Written by Siesta Key Mortgage Syndicated User on September 23, 2021. Posted in For Buyers, For Sellers, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

A lot has changed over the past year. For many people, the rise in remote work influenced what they’re looking for in a home and created a greater appetite for a dedicated home office. Some professionals took advantage of the situation and purchased a bigger home. Other people thought working from home would be temporary, so they chose to get creative and make the space they already had work for them. But recent headlines indicate working from home isn’t a passing fad. If you’re still longing for a dedicated home office, now may be the time to find the home that addresses your evolving needs....

The Truth About Today’s Buyer Demand

Written by Siesta Key Mortgage Syndicated User on September 23, 2021. Posted in For Sellers, Housing Market Updates, Mortgage Siesta Key, Selling Myths, Siesta Key Mortgage.

When it comes to the latest news in real estate, there are a lot of sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in the experts. Those of us in the housing market respect that buying or selling a home is a major life decision, and we offer advice based on what the data shows. Despite what you may have read, the housing market is still undeniably strong. Here’s a look at what leading experts have to say about buyer demand today and how it continues to shape the industry: Michael Lane, President at ShowingTime: “In general,...

5 Tips for Making Your Best Offer

Written by Siesta Key Mortgage Syndicated User on September 23, 2021. Posted in First Time Home Buyers, For Buyers, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

In today’s sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams. Below are five things to keep in mind when it’s time to make an offer. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it: “This...

Is the Number of Homes for Sale Finally Growing?

Written by Siesta Key Mortgage Syndicated User on September 23, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Siesta Key, Move-Up Buyers, Siesta Key Mortgage.

An important metric in today’s residential real estate market is the number of homes available for sale. The shortage of available housing inventory is the major reason for the double-digit price appreciation we’ve seen in each of the last two years. It’s the reason many would-be purchasers are frustrated with the bidding wars over the homes that are available. However, signs of relief are finally appearing. According to data from realtor.com, active listings have increased over the last four months. They define active listings as: “The active listing count tracks the number of for sale properties...

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