The Difference Between an Inspection and an Appraisal

Written by Siesta Key Mortgage Syndicated User on June 27, 2024. Posted in Buying Tips, For Buyers, Mortgage Siesta Key, Siesta Key Mortgage.

When you decide to buy your first home, you may come across a number of terms and conditions you’re not familiar with. While you may have a general idea of what an inspection is, maybe you’re not sure why you need one or how it’s different from an appraisal. To keep it simple, here’s an explainer of each one and what they mean for you as a homebuyer.Home InspectionOnce you’re under contract on a home you’d like to buy, getting an inspection is a key part of the process. An inspection gives you a clear idea of the safety and overall condition of the home – which is important for such a big transaction....

Focus on Time in the Market, Not Timing the Market

Written by Siesta Key Mortgage Syndicated User on June 26, 2024. Posted in Economy, For Buyers, Home Prices, Mortgage Siesta Key, Siesta Key Mortgage.

Should you buy a home now or should you wait? That’s a big question on many people’s minds today. And while what timing is right for you will depend on a lot of other personal factors, here’s something you may not have considered.If you’re able to buy at today’s rates and prices, it may be better to focus on time in the market, rather than timing the market. The Downside of Trying To Time the Market Trying to time the market isn’t a good strategy because things can change. Here’s an example. For the better part of this year, projections have said mortgage rates will come down. And while experts...

How Long Will It Take To Sell My House?

Written by Siesta Key Mortgage Syndicated User on June 25, 2024. Posted in For Sellers, Inventory, Mortgage Siesta Key, Siesta Key Mortgage.

You want your house to sell fast. And you may be wondering how long the whole process is going to take. One way to get your answer? Work with a local real estate agent.They have the expertise to tell you how quickly homes are selling in your area and what’s impacting timelines for other sellers. That way you have realistic expectations and can work together to come up with a plan that’s based on today’s market.Here’s a high-level overview of just one of the factors a great agent will walk you through – the supply of homes for sale and how that impacts your process.The Growing Supply of Homes...

Housing Market Forecast: What’s Ahead for the 2nd Half of 2024

Written by Siesta Key Mortgage Syndicated User on June 24, 2024. Posted in For Buyers, For Sellers, Forecasts, Home Prices, Inventory, Mortgage Siesta Key, Siesta Key Mortgage.

As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales.Home Prices Are Expected To Climb ModeratelyHome prices are forecasted to rise at a more normal pace. The graph below shows the latest forecasts from seven of the most trusted sources in the industry:The reason for continued appreciation? The supply of homes for sale. Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), explains:“One thing that seems to be pretty solid is that home prices are going to continue to go up, and the reason...

The Downsides of Selling Your House Without an Agent

Written by Siesta Key Mortgage Syndicated User on June 21, 2024. Posted in For Sale by Owner, For Sellers, Infographics, Mortgage Siesta Key, Selling Tips, Siesta Key Mortgage.

Some HighlightsConsidering selling your house without an agent? You should know there are some serious downsides to handling it on your own.You’ll be missing out on marketing tools that draw in more buyers, pricing and market expertise, essential negotiation skills, in-depth knowledge of the fine print in contracts, and so much more.Don’t take all of this responsibility on. Instead, connect with an agent so you have someone with the knowledge and experience you’ll need on your side.

Why a Vacation Home Is the Ultimate Summer Upgrade

Written by Siesta Key Mortgage Syndicated User on June 20, 2024. Posted in Buying Tips, For Buyers, Luxury / Vacation, Mortgage Siesta Key, Siesta Key Mortgage.

Summer is officially here and that means it’s the perfect time to start planning where you want to vacation and unwind this season. If you’re excited about getting away and having some fun in the sun, it might make sense to consider if owning your own vacation home is right for you.An Ameriprise Financial survey sheds light on why people buy a second, or vacation, home (see below): Vacation destination or a place to get away from the stresses of everyday life (81%) – Having a second home to use as a vacation spot can be a special place where you go to relax and take a break from your daily routines...

What You Need To Know About Today’s Down Payment Programs

Written by Siesta Key Mortgage Syndicated User on June 19, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Mortgage Siesta Key, Siesta Key Mortgage.

There’s no denying it’s gotten more challenging to buy a home, especially with today’s mortgage rates and home price appreciation. And that may be one of the big reasons you’re eager to look into grants and assistance programs to see if there’s anything you qualify for that can help. But unfortunately, many homebuyers feel like they don’t know where to start. A recent Bank of America Institute study asked prospective buyers where they lack confidence in the process and need more information. And this is what topped the list:53% said they need help understanding homebuying grant...

Worried About Mortgage Rates? Control the Controllables

Written by Siesta Key Mortgage Syndicated User on June 18, 2024. Posted in Buying Tips, Economy, Mortgage Rates, Mortgage Siesta Key, Siesta Key Mortgage.

Chances are you’re hearing a lot about mortgage rates right now. You may even see some headlines talking about last week’s Federal Reserve (the Fed) meeting and what it means for rates. But the Fed doesn’t determine mortgage rates, even if the headlines make it sound like they do.The truth is, mortgage rates are impacted by a lot of factors: geo-political uncertainty, inflation and the economy, and more. And trying to pin down when all those factors will line up enough for rates to come down is tricky.That’s why it’s generally not worth it to try to time the market. There’s too much at play...

Do Elections Impact the Housing Market?

Written by Siesta Key Mortgage Syndicated User on June 17, 2024. Posted in For Buyers, For Sellers, Mortgage Siesta Key, Siesta Key Mortgage.

The 2024 Presidential election is just months away. As someone who’s thinking about potentially buying or selling a home, you’re probably curious about what effect, if any, elections have on the housing market.It’s a great question because buying or selling a home is a major decision, and it’s natural to wonder how such a major event might impact your plans.Historically, Presidential elections have only had a small, temporary impact on the housing market. Here’s the latest on exactly what’s happened to home sales, prices, and mortgage rates throughout those time periods.Home SalesDuring the...

Real Estate Is Still the Best Long-Term Investment [INFOGRAPHIC]

Written by Siesta Key Mortgage Syndicated User on June 14, 2024. Posted in Equity, For Buyers, Infographics, Mortgage Siesta Key, Rent vs. Buy, Siesta Key Mortgage.

Some HighlightsAccording to a recent poll from Gallup, real estate has been voted the best long-term investment for twelve straight years.That’s because a home is so much more just than a roof over your head. It’s also an asset that typically grows in value over time. If you’ve been debating if it makes more sense to rent or buy, connect with a real estate agent to talk about why homeownership can be a better bet in the long run.

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