The Average Homeowner Gained $64K in Equity over the Past Year

Written by Palm Harbor FL Mortgage Syndicated User on July 1, 2022. Posted in For Sellers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

If you own a home, your net worth likely just got a big boost thanks to rising home equity. Equity is the current value of your home minus what you owe on the loan. And today, based on recent home price appreciation, you’re building that equity far faster than you may expect – here’s how it works. Because there’s an ongoing imbalance between the number of homes available for sale and the number of buyers looking to make a purchase, home prices are on the rise. That means your home is worth more in today’s market because it’s in high demand. As Patrick Dodd, President and CEO of CoreLogic, explains: “Price...

Things To Avoid After Applying for a Home Loan

Written by Palm Harbor FL Mortgage Syndicated User on July 1, 2022. Posted in First Time Home Buyers, For Buyers, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Once you’ve applied for a mortgage to buy a home, there are some key things to keep in mind. While it’s exciting to start thinking about moving in and decorating, be careful when it comes to making any big purchases. Here are a few things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just home-related...

Bright Days Are Ahead When You Move Up This Summer [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on June 1, 2022. Posted in For Buyers, For Sellers, Infographics, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Some Highlights Warmer weather and longer days mean summer is almost here. Celebrate by upgrading to the home of your dreams so you can enjoy all the season has to offer. When you list your house, you can capitalize on today’s sellers’ market to fuel your upgrade. Then, you can move to a home with the features you want, like space to entertain or rooms for work and play. If you’re ready to upgrade to a home that matches your changing needs, let’s connect. Content previously posted on Keeping Current Matters

What Does the Rest of the Year Hold for the Housing Market?

Written by Palm Harbor FL Mortgage Syndicated User on June 1, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re thinking of buying or selling a house, you’re at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say. The Number of Homes Available for Sale Is Likely To Grow There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com: “The gap between this year’s homes for sale and last year’s is one-fifth the size...

Sellers Have an Opportunity with Today’s Home Prices

Written by Palm Harbor FL Mortgage Syndicated User on June 1, 2022. Posted in For Sellers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend. According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green: This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand...

How To Approach Rising Mortgage Rates as a Buyer

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead. 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. How Rising Mortgage Rates Impact You Mortgage rates play a significant...

Is It Enough To Offer Asking Price in Today’s Housing Market?

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer’s bid and the home’s initial asking price. In today’s real estate market, buyers shouldn’t shop for a home with the same expectations. Things Are Different Today Today’s housing market is anything but normal. According...

What You Need To Know if You’re Thinking About Building a Home

Written by Palm Harbor FL Mortgage Syndicated User on April 1, 2022. Posted in For Buyers, Housing Market Updates, Move-Up Buyers, New Construction, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re ready to move up, you may be trying to decide whether you want to buy a home that’s already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct more houses and help narrow the supply shortage, they’re also facing delays due to factors outside of their control. Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact your plans to move up. When you know what’s happening in the industry,...

How an Energy Efficient Home Can Be a Bright Idea [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on April 1, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Some Highlights With inflation driving up the cost of everyday items, seeking out an energy-efficient home can be a great way to decrease the expenses you can control. Energy efficiency can help lower your utility bills and possibly even save you money on your taxes. Options to look for include efficient appliances, windows, and solar panels. If you’re planning to buy a home this year, consider energy efficiency in your search. Let’s connect so you can better understand features that can save you money for years to come. Content previously posted on Keeping Current Matters

Real Estate Voted the Best Investment Eight Years in a Row

Written by Palm Harbor FL Mortgage Syndicated User on March 1, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Rent vs. Buy.

In an annual Gallup poll, Americans chose real estate as the best long-term investment. And it’s not the first time it’s topped the list, either. Real estate has been on a winning streak for the past eight years, consistently gaining traction as the best long-term investment (see graph below): If you’re thinking about purchasing a home this year, this poll should reassure you. Even when inflation is rising like it is today, Americans agree an investment like real estate truly shines. Why Is Real Estate a Great Investment During Times of High Inflation? With inflation reaching its highest level...

Category: Move-Up Buyers