Mortgage Rates Drop to Lowest Level in over a Year and a Half

Written by Palm Harbor FL Mortgage Syndicated User on October 1, 2024. Posted in Featured, For Buyers, For Sellers, Mortgage Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment.Even a small decline in rates could help you get a better monthly payment than you would expect on your next home. And the drop that’s happened recently isn’t small. As Sam Khater, Chief Economist at Freddie Mac, says:“Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.”But if you want to see it to really believe it, here’s how the math shakes out. Take a closer look at the...

How To Avoid Today’s Top Seller Mistakes

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2024. Posted in For Sellers, Infographics, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Tips.

Some HighlightsWant to know some of the top mistakes sellers are making today and how to make sure they don’t happen to you too?The biggest missteps are pricing a house too high, skipping repairs, not being objective, and not being willing to negotiate.And the best way to avoid falling into any of these traps is to partner with a real estate agent and lean on them for advice.

Are We Heading into a Balanced Market?

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2024. Posted in For Buyers, For Sellers, Inventory, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know.What Is a Balanced Market?A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there’s a healthier number of homes to choose from. And after many years when sellers had all the leverage, a more balanced...

2025 Housing Market Forecasts: What To Expect

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2024. Posted in For Buyers, For Sellers, Forecasts, Home Prices, Mortgage Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Looking ahead to 2025, it’s important to know what experts are projecting for the housing market. And whether you’re thinking of buying or selling a home next year, having a clear picture of what they’re calling for can help you make the best possible decision for your homeownership plans.Here’s an early look at the most recent projections on mortgage rates, home sales, and prices for 2025.Mortgage Rates Are Projected To Come Down SlightlyMortgage rates play a significant role in the housing market. The forecasts for 2025 from Fannie Mae, the Mortgage Bankers Association (MBA), the...

What’s the Impact of Presidential Elections on the Housing Market?

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2024. Posted in Economy, For Buyers, For Sellers, Home Prices, Inventory, Mortgage Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead. And those unanswered thoughts can quickly spiral, causing fear and uncertainty to swirl through your mind. So, if you’ve been considering buying or selling a home this year, you’re probably curious about what the election might mean for the housing market – and if it’s still a good time to make your move.Here’s the good news that may surprise you: typically, Presidential elections have only had a small, temporary impact on the housing market. But your questions are definitely worth answering,...

What Mortgage Rate Are You Waiting For?

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2024. Posted in Affordability, Mortgage Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the lowest point we’ve seen in 2024, according to Freddie Mac (see graph below):And if you’re thinking about buying a home, that may leave you wondering: how much lower are they going to go? Here’s some information that can help you know what to expect.Expert Projections for Mortgage RatesExperts say the overall downward trend should continue as long as inflation...

How Growing Inventory Benefits Today’s Buyers

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2024. Posted in For Buyers, Infographics, Inventory, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Some HighlightsWhile the number of homes for sale varies by local area, nationally we’re up over 36% year-over-year, but still down almost 29% compared to what’s normal.?Here’s what that means when you buy: more options for your search, more negotiation power for you, it’s more likely sellers will make select repairs, and more moderate price growth.If you want to talk more about what rising inventory means for you, connect with a local real estate agent.

Today’s Biggest Housing Market Myths

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2024. Posted in Buying Tips, Economy, Featured, For Buyers, Mortgage Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Have you ever heard the phrase: don’t believe everything you hear? That’s especially true if you’re thinking about buying or selling a home in today’s housing market. There’s a lot of misinformation out there. And right now, making sure you have someone you can go to for trustworthy information is extra important.If you partner with a real estate agent, they can clear up some common misconceptions and reassure you by backing them up with research-driven facts. Here are just a few misconceptions they can help disprove.1. I’ll Get a Better Deal Once Prices CrashIf you’ve heard home prices are...

The Number One Mistake Sellers Are Making: Overpricing Their House

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2024. Posted in Featured, For Sellers, Home Prices, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Tips.

In today’s housing market, many sellers are making a critical mistake: overpricing their houses. This common error can lead to a home sitting on the market for a long time without any offers. And when that happens, the homeowner may have to drop their asking price to try to re-ignite buyer interest.Data from Realtor.com shows the number of homeowners realizing this mistake and doing a price reduction is climbing (see graph below):If you’re thinking about making a move yourself, here’s what you need to know. The best way to avoid making a costly mistake is to work with a trusted real estate...

How To Choose a Great Local Real Estate Agent

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2024. Posted in Agent Value, For Buyers, For Sellers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Selecting the right real estate agent can make a world of difference when buying or selling a home. But how do you find the best one? Here are some tips to help you make that big decision as you determine your partner in the process.Check Their ReputationStart by gathering information about agents in your area. From there, try to narrow down the list. Ask the people you trust if they have someone they’d recommend. You’ll want to find an agent with a strong online presence, plenty of positive reviews, and someone whose great reputation truly precedes them. As Freddie Mac explains:“. . . you may...

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