The Top 2 Reasons To Consider a Newly Built Home

Written by Marathon Florida Keys Mortgage on May 9, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Inventory, Marathon FL Mortgage, Marathon Florida Keys Mortgage, New Construction.

When you’re planning a move, it’s normal to wonder where you’ll end up and what your future home is going to look like. Maybe you’ve got a specific picture of that house in your mind. But unless you came into this process knowing you want to buy a newly built home, you may not have pictured new home construction. A trusted real estate agent can help walk you through these two reasons you may want to reconsider that. 1. Adding Newly Built Homes Could Give You More Options There are two types of homes on the market: new and existing. A newly built home refers to a house that was just built or...

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How Buying or Selling a Home Benefits Your Community

Written by Marathon Florida Keys Mortgage on May 8, 2024. Posted in For Buyers, For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re thinking of buying or selling a house, it’s important to know it doesn’t just impact you—it helps out the local economy and your community, too. Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes (see visual below): When a house is sold, it really boosts the local economy. That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry...

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Tips for Younger Homebuyers: How To Make Your Dream a Reality

Written by Marathon Florida Keys Mortgage on May 7, 2024. Posted in First-Time Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home? And chances are, you’re worried that’s not going to be in the cards with inflation, rising home prices, mortgage rates, and more seemingly stacked against you. While there’s no arguing this housing market is challenging for first-time homebuyers, it is still achievable, especially if you have professionals on your side. Here are some helpful tips you may get from a pro. 1. Explore Your Options for a Down Payment If a down payment is your #1 hurdle, you may have options...

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What’s Motivating Your Move?

Written by Marathon Florida Keys Mortgage on May 6, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Tips.

Thinking about selling your house? As you make your decision, consider what’s pushing you to think about moving. A recent survey from Realtor.com looked into why people want to sell their homes this year. Here are the top two reasons (see graphic below): Let’s take a closer look and see if they’re motivating you to make a change too. 1. To Make a Profit If you’re thinking about selling your house, you probably have a lot of questions on your mind. Well, here’s some good news – the latest data shows most sellers get a great return on their investment when they sell. ATTOM,...

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Builders Are Building Smaller Homes [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on May 3, 2024. Posted in First-Time Buyers, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Having a hard time finding a home in your budget? ?Builders may have a solution that can help. Builders are shifting their attention to what buyers want most right now – smaller, more affordable homes. If you want to see what’s available locally and in other areas nearby, connect with an agent to explore your options together.

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What Is Going on with Mortgage Rates?

Written by Marathon Florida Keys Mortgage on May 2, 2024. Posted in Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

You may have heard mortgage rates are going to stay a bit higher for longer than originally expected. And if you’re wondering why, the answer lies in the latest economic data. Here’s a quick overview of what’s happening with mortgage rates and what experts say is ahead. Economic Factors That Impact Mortgage Rates When it comes to mortgage rates, things like the job market, the pace of inflation, consumer spending, geopolitical uncertainty, and more all have an impact. Another factor at play is the Federal Reserve (the Fed) and its decisions on monetary policy. And that’s what you may be hearing...

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The Perks of Buying over Renting

Written by Marathon Florida Keys Mortgage on May 1, 2024. Posted in Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Thinking about buying a home? While today’s mortgage rates might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your own place. 1. Home Values Typically Go Up Over Time There’s been some confusion over the past year or so about which way home prices are headed. Make no mistake, nationally they’re still going up. In fact, over the long-term, home prices almost always go up (see graph below): Using data from the Federal Reserve (the Fed), you can see the overall trend is home prices have climbed steadily for the past...

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What More Listings Mean When You Sell Your House

Written by Marathon Florida Keys Mortgage on April 30, 2024. Posted in For Sellers, Inventory, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Tips.

The number of homes for sale is playing a big role in today’s housing market. And, if you’re considering whether or not to list your house, today’s limited supply is one of the biggest advantages you have right now. That’s because your house stands out more when the inventory is low, especially if it’s priced right. But the supply of homes for sale is growing. According to the latest data from Realtor.com, new listings (homeowners who just put their house up for sale) are trending up (see graph below): This graph shows more homeowners are putting that sale sign up in their yards compared...

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Now’s a Great Time To Sell Your House

Written by Marathon Florida Keys Mortgage on April 29, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

Thinking about selling your house? If you are, you might be weighing factors like today’s mortgage rates and your own changing needs to figure out your next move. Here’s something else to consider. According to the latest Home Purchase Sentiment Index (HPSI) from Fannie Mae, the percent of respondents who say it’s a good time to sell is on the rise (see graph below): Why Are Sellers Feeling so Optimistic? One reason why is because right now is traditionally the best time of year to sell a house. A recent article from Bankrate says: “Late spring and early summer are generally considered the...

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Equity Can Make Your Move Possible When Affordability Is Tight [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 26, 2024. Posted in Affordability, Equity, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up.

Some Highlights Did you know the equity you have in your current house can help make your move possible? Once you sell, you can use it for a larger down payment on your next home, so you’re borrowing less. Or, you may even have enough to be an all-cash buyer. The typical homeowner has $298,000 in equity. If you want to find out how much you have, connect with a local real estate agent for a Professional Equity Assessment Report.

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Is a Multi-Generational Home Right for You?

Written by Marathon Florida Keys Mortgage on April 25, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Ever thought about living in the same house with your grandparents, parents, or other loved ones? You’re not alone. A lot of people are choosing to buy multi-generational homes where everyone can live together. Let’s check out why they think it’s a good idea to see if it might be a good fit for you, too. Why People Are Choosing Multi-Generational Living According to the National Association of Realtors (NAR), here are just a few key reasons buyers opted for multi-generational homes over the past year (see graph below): Two of the top reasons had to do with aging parents. 27%...

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Foreclosure Numbers Are Nothing Like the 2008 Crash

Written by Marathon Florida Keys Mortgage on April 24, 2024. Posted in Foreclosures, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up. And that may leave you feeling a bit worried about what’s ahead, especially if you owned a home during the housing crash in 2008. The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed. Here’s the latest information stacked against the historical data to put your mind at ease. The Headlines Make the Increase Sound Dramatic – But It’s Not The increase the media is calling attention to...

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The Best Way To Keep Track of Mortgage Rate Trends

Written by Marathon Florida Keys Mortgage on April 23, 2024. Posted in For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

If you’re thinking about buying a home, chances are you’ve got mortgage rates on your mind. You’ve heard about how they impact how much you can afford in your monthly mortgage payment, and you want to make sure you’re factoring that in as you plan your move. The problem is, with all the headlines in the news about rates lately, it can be a bit overwhelming to sort through. Here’s a quick rundown of what you really need to know. The Latest on Mortgage Rates Rates have been volatile – that means they’re bouncing around a bit. And, you may be wondering, why? The answer is complicated because rates...

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What You Really Need To Know About Home Prices

Written by Marathon Florida Keys Mortgage on April 22, 2024. Posted in Home Prices, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know. A lot of that fear is probably coming from what you’re hearing in the media or reading online. But here’s the thing to remember. Negative news sells. That means, you may not be getting the full picture. You may only be getting the clickbait version. As Jay Thompson, a Real Estate Industry Consultant, explains: “Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points...

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Myths About the 2024 Housing Market [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 19, 2024. Posted in Buying Tips, Forecasts, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Tips.

Some Highlights When it comes to the current housing market, there are some myths circling around right now. Some of the more common ones are that it’s better to wait for mortgage rates to fall or prices to crash. But there are others about the supply of homes for sale and down payments. Lean on a real estate professional to help separate fact from fiction in today’s housing market.

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Is It Getting More Affordable To Buy a Home?

Written by Marathon Florida Keys Mortgage on April 18, 2024. Posted in Affordability, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Over the past year or so, a lot of people have been talking about how tough it is to buy a home. And while there’s no arguing affordability is still tight, there are signs it’s starting to get a bit better and may improve even more throughout the year. Elijah de la Campa, Senior Economist at Redfin, says: “We’re slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the sidelines.” Here’s...

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Is It Better To Rent Than Buy a Home Right Now?

Written by Marathon Florida Keys Mortgage on April 17, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

You may have seen reports in the news recently saying it’s more affordable to rent right now than it is to buy a home. And while that may be true in some markets if you just look at typical monthly payments, there’s one thing that the numbers aren’t factoring in: and that’s home equity. Here’s a look at how big of an impact equity can have and why it’s worth considering as you make your decision. What the Headlines Are Based on The graph below uses national data on the median rental payment from Realtor.com and median mortgage payment from the National Association of Realtors (NAR) to compare...

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Should I Wait for Mortgage Rates To Come Down Before I Move?

Written by Marathon Florida Keys Mortgage on April 16, 2024. Posted in For Sellers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates, Selling Tips.

If you’ve got a move on your mind, you may be wondering whether you should wait to sell until mortgage rates come down before you spring into action. Here’s some information that could help answer that question for you. In the housing market, there’s a longstanding relationship between mortgage rates and buyer demand. Typically, the higher rates are, you’ll see lower buyer demand. That’s because some people who want to move will be hesitant to take on a higher mortgage rate for their next home. So, they decide to wait it out and put their plans on hold. But when rates start to come down, things...

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What You Really Need To Know About Home Price Headlines

Written by Marathon Florida Keys Mortgage on April 12, 2024. Posted in Home Prices, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

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Ways To Use Your Tax Refund If You Want To Buy a Home

Written by Marathon Florida Keys Mortgage on April 12, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

Have you been saving up to buy a home this year? If so, you know there are a number of expenses involved – from your down payment to closing costs. But did you also know your tax refund can help you pay for some of these expenses? As Credit Karma explains: “If one of your goals is to stop renting and buy a home, you’ll need to save up for closing costs and a down payment on the mortgage. A tax refund can give you a start on the road to homeownership. If you’ve already started to save, your tax refund could move you down the road faster.” While how much money you may get in a tax refund is going...

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The Perks of Downsizing When You Retire [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 11, 2024. Posted in For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights If you’re about to retire, or just did, downsizing can be a good way to try to cut down on some of your expenses. Smaller homes typically have lower energy and maintenance costs. Plus, you may have enough equity built up to fuel your move. If you’re thinking about moving to a smaller home, connect with a real estate professional to go over your goals and look at your options in the local market.

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Builders Are Building Smaller Homes

Written by Marathon Florida Keys Mortgage on April 11, 2024. Posted in First-Time Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

There’s no arguing it, affordability is still tight. And if you’re trying to buy a home, that may mean you need to look at smaller houses to find one that’s still in your budget. But there is a silver lining: builders are focused on building these smaller homes right now and they’re offering incentives. And that can help give you more options that fit the bill. Newly Built Homes Are Trending Smaller During the pandemic, homebuyers wanted (and could afford) larger homes – and builders delivered. They focused on homes that were bigger, so people had more space for things like working from home,...

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