How To Think Strategically as a Buyer in Today’s Market

Written by Palm Harbor FL Mortgage Syndicated User on December 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

The game of chess can provide incredible lessons to apply to all aspects of life, including the homebuying process. Chess requires you to plan and think about your strategy from the very beginning of the game. The homebuying process, like chess, requires strategy and planning. Here are a few things to keep in mind to ensure your plan is as strong as possible when you begin your home search. Pre-Approval: the Best Opening Play To Make as a Homebuyer It’s important to have a great opening play when you’re buying a home. And the best move you can make when you begin your home search is getting...

How Smart Buyers Are Approaching Rising Mortgage Rates

Written by Palm Harbor FL Mortgage Syndicated User on December 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022: “The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.” If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. Taking Time Off Can Be Costly Mortgage rates play a significant role in your home search. As rates go up, your monthly...

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

Written by Palm Harbor FL Mortgage Syndicated User on November 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor 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

Important Distinction: Homes Are Less Affordable, Not Unaffordable

Written by Palm Harbor FL Mortgage Syndicated User on November 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been. Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here’s what the report...

Knowledge Is Power When It Comes to Appraisals and Inspections

Written by Palm Harbor FL Mortgage Syndicated User on November 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor 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,...

If You’re a Buyer, Is Offering Asking Price Enough?

Written by Palm Harbor FL Mortgage Syndicated User on October 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle. Things Are Different Today Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are: Receiving an average of 3.8 offers Selling in just 17 days Homes selling quickly...

Two Reasons Why Waiting a Year To Buy Could Cost You

Written by Palm Harbor FL Mortgage Syndicated User on October 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

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....

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

Written by Palm Harbor FL Mortgage Syndicated User on October 1, 2021. Posted in Buying Myths, Demographics, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Millennials, Palm Harbor FL Mortgage, Palm Harbor 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...

Fact or Fiction: Homebuyer Edition [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on September 13, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

Some Highlights When it comes to the current housing market, there are multiple misconceptions – from what the current supply of available homes looks like to how much houses are selling for. It takes professionals who study expert opinions and data to truly understand the real estate market and separate fact from fiction. Trust the pros. If you want to understand why it’s still a good time to buy, let’s connect today. Content previously posted on Keeping Current Matters

What You Can Do Right Now To Prepare for Homeownership

Written by Palm Harbor FL Mortgage Syndicated User on September 13, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Rent vs. Buy.

As rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from ApartmentList.com: “The first half of 2021 has seen the fastest growth in rent prices since the start of our estimates in 2017. Our national rent index has increased by 11.4 percent since January . . . .” Those rising rental costs may make it seem impossible to prepare for homeownership if you’re a renter. But the truth is, there are ways you can – and should – prepare to purchase your first home. Here’s some expert advice on what to do if you’re...

Category: Buying Myths