Foreclosure Numbers Today Aren’t Like 2008

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in Distressed Properties, For Buyers, Foreclosures, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’ve been keeping up with the news lately, you’ve probably come across headlines talking about the increase in foreclosures in today’s housing market. This may have left you with some uncertainty, especially if you’re considering buying a home. It’s important to understand the context of these reports to know the truth about what’s happening today.According to a recent report from ATTOM, a property data provider, foreclosure filings are up 2% compared to the previous quarter and 8% since one year ago. While media headlines are drawing attention to this increase, reporting...

Real Estate Continues To Be the Best Investment [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Some HighlightsAccording to a recent Gallup poll, real estate has been voted the best long-term investment for 11 years in a row, beating gold, stocks, bonds, and more.Owning real estate means more than just having a home—it’s an investment in your future. That’s because it’s typically a stable and secure asset that tends to increase in value as time goes on.Connect with a local real estate agent if you’re ready to buy a home and invest in your future.

Explaining Today’s Mortgage Rates

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in For Buyers, Housing Market Updates, Interest Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re following mortgage rates because you know they impact your borrowing costs, you may be wondering what the future holds for them. Unfortunately, there’s no easy way to answer that question because mortgage rates are notoriously hard to forecast. But, there’s one thing that’s historically a good indicator of what’ll happen with rates, and that’s the relationship between the 30-Year Mortgage Rate and the 10-Year Treasury Yield. Here’s a graph showing those two metrics since Freddie Mac started keeping mortgage rate records in 1972:As the graph shows, historically, the average spread...

Homebuyers Are Getting Used to the New Normal

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in For Sellers, Housing Market Updates, Interest Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

Before you decide to sell your house, it’s important to know what you can expect in the current housing market. One positive trend right now is homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal.To better understand what’s been happening with mortgage rates lately, the graph below shows the trend for the 30-year fixed mortgage rate from Freddie Mac since last October. As you can see, rates have been between 6% and 7% pretty consistently for the past nine months:According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR),...

Lending Standards Are Not Like They Were Leading Up to the Crash

Written by Palm Harbor FL Mortgage Syndicated User on July 1, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008. One of which is how lending standards are different today. Here’s a look at the data to help prove it. Every month, the Mortgage Bankers Association (MBA) releases the Mortgage Credit Availability Index (MCAI). According to their website:“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is . . . a summary measure which indicates the availability of mortgage credit at a point in time.”Basically,...

Eco-Friendly, Energy-Efficient Homes Attract Buyers

Written by Palm Harbor FL Mortgage Syndicated User on July 1, 2023. Posted in For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Are you planning to sell your house? If so, you may be surprised to hear just how much buyers value energy efficiency and eco-friendly features today. This is especially true as summer officially kicks off.In fact, the 2023 Realtors and Sustainability Report from the National Association of Realtors (NAR) shows 48% of agents or brokers have noticed consumers are interested in sustainability. So, if you’re considering selling your house, why does this matter to you? It helps you know what you can do to make your house even more appealing to today’s buyers. According to Jessica Lautz, Deputy Chief...

Why the Median Home Price Is Meaningless in Today’s Market

Written by Palm Harbor FL Mortgage Syndicated User on July 1, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

The National Association of Realtors (NAR) will release its latest Existing Home Sales (EHS) report later this week. This monthly report provides information on the sales volume and price trend for previously owned homes. In the upcoming release, it’ll likely say home prices are down. This may feel a bit confusing, especially if you’ve been following along and seeing the blogs saying that home prices have bottomed out and turned a corner.So, why will this likely say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each report....

Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off

Written by Palm Harbor FL Mortgage Syndicated User on June 1, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common definition of the word:“Something that is greatly desired but difficult or impossible to find.” The pandemic profoundly changed real estate over the last few years....

Why Today’s Foreclosure Numbers Are Nothing Like 2008

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2023. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

You’ve likely seen headlines about the number of foreclosures climbing in today’s housing market. That may leave you with a few questions, especially if you’re thinking about buying a house. Understanding what they really mean is mission-critical if you want to know the truth about what’s happening today.According to a recent report from ATTOM, a property data provider, foreclosure filings are up 6% compared to the previous quarter and 22% since one year ago. As media headlines call attention to this increase, reporting on just the number could actually generate worry and may even make you think...

What Are the Experts Saying About the Spring Housing Market?

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your position right now.Here’s what industry experts are saying right now about the spring housing market and what it means for you:Selma Hepp, Chief Economist, CoreLogic:“We see more competition among buyers . . . Housing supply also tends to grow during the spring months. And this is also the time of year when...

Category: Housing Market Updates