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...

Your Journey to Homeownership [INFOGRAPHIC]

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

Some Highlights When it comes to buying a home, there are a number of key milestones along the way. The process includes everything from building your team and understanding your finances to going house hunting, making an offer, and more. When you’re ready to start your journey, let’s connect so you have trusted guidance at every milestone in the process. Content previously posted on Keeping Current Matters

Renters Missed Out on $51,500 This Past Year

Written by Palm Harbor FL Mortgage Syndicated User on November 1, 2021. Posted in First Time Home Buyers, For Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing, Rent vs. Buy.

Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic: “Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.” Looking back, we can see rents rising isn’t new. The median rental price has increased consistently over the past 33 years (see graph below):If you’re thinking of renting...

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

There Are More Homes Available Now than There Were This Spring

Written by Palm Harbor FL Mortgage Syndicated User on November 1, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor 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...

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,...

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

Written by Palm Harbor FL Mortgage Syndicated User on November 1, 2021. Posted in For Buyers, For Sellers, Move-Up Buyers, New Construction, Palm Harbor FL Mortgage, Palm Harbor 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...

Reasons Renters Buy [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on October 1, 2021. Posted in First Time Home Buyers, For Buyers, Infographics, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Rent vs. Buy.

Some Highlights When deciding whether you should rent or buy, make sure you’re considering these factors. Buying a home means consistent monthly payments. Homeownership also helps to build your wealth. And owning a home gives you greater flexibility than renting. If you’re ready to take advantage of the perks of homeownership, let’s connect to explore your options. Content previously posted on Keeping Current Matters

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...

Category: For Buyers