The Best Use of Time (and Money) When It Comes to Renovations

Written by Sandestin FL Mortgage Syndicated User on August 12, 2021. Posted in Mortgage Sandestin FL, Sandestin Mortgage.

In the current sellers’ market, many homeowners wonder what, if anything, needs to be remodeled before they list their house. That’s where a trusted real estate professional comes in. They can help you think through today’s market conditions and how they impact what you should – and shouldn’t – renovate before selling. Here are some considerations a professional will guide you through: 1. With current supply challenges, buyers may be willing to take on projects of their own. A more balanced market typically sees a 6-month supply of homes for sale. Above that, and we’re in a buyers’...

Are Houses Less Affordable Than They Were in Past Decades?

Written by Sandestin FL Mortgage Syndicated User on August 11, 2021. Posted in Mortgage Sandestin FL, Sandestin Mortgage.

There are many headlines about how housing affordability is declining. The headlines are correct: it’s less affordable to purchase a home today than it was a year ago. However, it’s important to give this trend context. Is it less expensive to buy a house today than it was in 2005? What about 1995? What happens if we go all the way back to 1985? Or even 1975? Obviously, the price of a home has appreciated dramatically over the last 45 years. So have the prices of milk, bread, and just about every other consumable. Prices rise over time – we know it as inflation. However, when we look at...

Looking for a Place To Call Home? Consider a Condominium.

Written by Sandestin FL Mortgage Syndicated User on August 10, 2021. Posted in Mortgage Sandestin FL, Sandestin Mortgage.

It’s no secret that one of the top stories in today’s real estate market is low housing supply and high buyer demand. If you’re a first-time buyer looking for a starter home or are someone who’s interested in downsizing, it may be worth considering a condominium (condo) as a worthwhile option. In fact, trends indicate condos are gaining popularity among buyers. In the latest Existing Homes Sales Report from the National Association of Realtors (NAR), the data shows condo sales rising throughout the first half of this year (see graph below):There are a few reasons more and more people are...

Sellers: Make Today’s Home Price Appreciation Work for You

Written by Sandestin FL Mortgage Syndicated User on August 4, 2021. Posted in Mortgage Sandestin FL, Sandestin Mortgage.

Home prices continue to rise as we move through the summer, and that’s good news for sellers who are looking to maximize their home’s potential. If you’re on the fence about whether to list your house now or later, the question you should really ask is: will this price appreciation last? Here’s what three leading industry experts have to say about what lies ahead: Lawrence Yun, Chief Economist, National Association of Realtors (NAR): “At a broad level, home prices are in no danger of a decline due to tight inventory conditions, but I do expect prices to appreciate at a slower pace by the...

With Rents on the Rise – Is Now the Time To Buy?

Written by Sandestin FL Mortgage Syndicated User on August 3, 2021. Posted in Mortgage Sandestin FL, Sandestin Mortgage.

According to recent data from realtor.com, median rental prices have reached their highest point ever recorded in many areas across the country. The report found rents rose by 8.1% from the same time last year. As it notes: “Beyond simply recovering to pre-pandemic levels, rents across the country are surging. Typically, rents fluctuate less than 1% from month to month. In May and June, rents increased by 3.0% and 3.2% from each month to the next.” If you’re a renter concerned about rising prices, now may be the time to consider purchasing a home. Monthly Rents Are Higher Than Monthly...

Key Questions To Ask Yourself Before Buying a Home

Written by Sandestin FL Mortgage Syndicated User on August 2, 2021. Posted in Mortgage Sandestin FL, Sandestin Mortgage.

Sometimes it can feel like everyone has advice when it comes to buying a home. While your friends and loved ones may have your best interests in mind, they may also be missing crucial information about today’s housing market that you need to make your best decision. Before you decide whether you’re ready to buy a home, you should know how to answer these three questions. 1. What’s Going on with Home Prices? Home prices are one factor that directly impacts how much it will cost to buy a home and how much you stand to gain as a homeowner when prices appreciate. The graph below shows just how...

Waiting To Buy a Home Could Cost You [INFOGRAPHIC]

Written by Sandestin FL Mortgage Syndicated User on July 30, 2021. Posted in Mortgage Sandestin FL, Sandestin Mortgage.

Some Highlights If you’re thinking of buying a home but wondering if waiting a few years will save you in the long run, think again. The longer the wait, the more you’ll pay, especially when mortgage rates and home prices rise. Even the slightest change in the mortgage rate can have a big impact on your buying power no matter your price point. Don’t assume waiting will save you money. Let’s connect to set the ball into motion today while mortgage rates are hovering near historic lows. Content previously posted on Keeping Current Matters...

4 Reasons Why the End of Forbearance Will Not Lead to a Wave of Foreclosures

Written by Sandestin FL Mortgage Syndicated User on July 28, 2021. Posted in Mortgage Sandestin FL, Sandestin Mortgage.

With forbearance plans about to come to an end, many are concerned the housing market will experience a wave of foreclosures like what happened after the housing bubble 15 years ago. Here are four reasons why that won’t happen. 1. There are fewer homeowners in trouble this time After the last housing crash, about 9.3 million households lost their home 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 overwhelming fear was the pandemic would decimate the housing industry in a similar way. Many experts...

Today’s Real Estate Market Explained Through 4 Key Trends

Written by Sandestin FL Mortgage Syndicated User on July 22, 2021. Posted in Mortgage Sandestin FL, Sandestin Mortgage.

As we move into the second half of the year, one thing is clear: the current real estate market is one for the record books. The exact mix of conditions we have today creates opportunities for both buyers and sellers. Here’s a look at four key components that are shaping this unprecedented market. A Shortage of Homes for Sale Earlier this year, the number of homes available for sale fell to an all-time low. In recent months, however, inventory levels are starting to trend up. The latest Monthly Housing Market Trends Report from realtor.com says: “In June, newly listed homes grew by 5.5%...

3 Charts That Show This Isn’t a Housing Bubble

Written by Sandestin FL Mortgage Syndicated User on July 20, 2021. Posted in Mortgage Sandestin FL, Sandestin Mortgage.

With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons. 1. The housing market isn’t driven by risky mortgage loans. Back in 2006, nearly everyone could qualify for a loan. The Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers’ Association is an indicator of the availability of mortgage money. The higher the index, the easier it is to obtain a mortgage. The MCAI more than doubled from 2004 (378) to...

Tag: Pricing