Is Owning a Home Still the American Dream for Younger Buyers?

Written by Emerald Coast Mortgage Syndicated User on December 1, 2023. Posted in Buying Myths, Demographics, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Emerald Coast.

Everyone has their own idea of the American Dream, and it’s different for each person. But, in a recent survey by Bankrate, people were asked about the achievements they believe represent the American Dream the most. The answers show that owning a home still claims the #1 spot for many Americans today (see graph below): In fact, according to the graph, owning a home is more important to people than retiring, having a successful career, or even getting a college degree. But is the dream of homeownership still alive for younger generations?A recent survey by 1000watt dives into how the two...

Are the Top 3 Housing Market Questions on Your Mind?

Written by Emerald Coast Mortgage Syndicated User on December 1, 2023. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Mortgage Emerald Coast, Move-Up Buyers, Selling Myths.

When it comes to what’s happening in the housing market, there’s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. And, if you’re thinking about making a move, that can leave you with a lot of lingering questions. That’s where a trusted local real estate agent comes in.Here are the top 3 questions people are asking about today’s housing market, and the data to help answer them.1. What’s Next for Mortgage Rates?Mortgage rates...

Unmasking Scary Myths about Today’s Housing Market [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on November 1, 2023. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Mortgage Emerald Coast, Move-Up Buyers.

Some HighlightsHere’s what you really need to know about a few myths causing fear in today’s housing market.Despite common misconceptions, many people can buy a home even if they have student loans, home prices are rising nationally (not falling), and you usually don’t have to have 20% for a down payment.If you have other fears or reservations about buying a home today, get in touch with a real estate expert who can help clear those up.

A Real Estate Agent Helps Take the Fear Out of the Market

Written by Emerald Coast Mortgage Syndicated User on November 1, 2023. Posted in Buying Myths, Emerald Coast Mortgage, For Buyers, For Sellers, Housing Market Updates, Mortgage Emerald Coast, Selling Myths.

Do negative headlines and talk on social media have you feeling worried about the housing market? Maybe you’ve even seen or heard something lately that scares you and makes you wonder if you should still buy or sell a home right now. Regrettably, when news in the media isn’t easy to understand, it can make people feel scared and unsure. Similarly, negative talk on social media spreads fast and creates fear. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says:“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear,...

Sellers: Don’t Let These Two Things Hold You Back

Written by Emerald Coast Mortgage Syndicated User on August 1, 2023. Posted in Buying Myths, Emerald Coast Mortgage, For Buyers, For Sellers, Mortgage Emerald Coast, Selling Myths.

Many homeowners thinking about selling have two key things holding them back. That’s feeling locked in by today’s higher mortgage rates and worrying they won’t be able to find something to buy while supply is so low. Let’s dive into each challenge and give you some helpful advice on how to overcome these obstacles.Challenge #1: The Reluctance to Take on a Higher Mortgage RateAccording to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below):But today, the typical 30-year fixed mortgage rate offered to buyers...

Why Buying a Home Makes More Sense Than Renting Today

Written by Emerald Coast Mortgage Syndicated User on May 1, 2023. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Mortgage Emerald Coast, Rent vs. Buy.

Wondering if you should continue renting or if you should buy a home this year? If so, consider this. Rental affordability is still a challenge and has been for years. That’s because, historically, rents trend up over time. Data from the Census shows rents have been climbing pretty steadily since 1988. And, data from the latest rental report from Realtor.com shows rents continue to grow today, even though it’s at a slower pace than we saw at the height of the pandemic:“In March 2023, the U.S. rental market experienced single-digit growth for the eighth month in a row . . . The median asking...

Facts About Closing Costs [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on April 1, 2023. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Infographics, Mortgage Emerald Coast, Move-Up Buyers.

Applying For a Mortgage? Here’s What You Should Avoid Once You Do.

Written by Emerald Coast Mortgage Syndicated User on January 1, 2023. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Mortgage Emerald Coast.

While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of 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 purchases that could disqualify you from...

What You Want To Know If You’re Pursuing Your Dream of Homeownership

Written by Emerald Coast Mortgage Syndicated User on December 1, 2022. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Gen Z, Housing Market Updates, Millennials, Mortgage Emerald Coast, Move-Up Buyers.

If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead. And if homeownership ranks high on your goal sheet, you’re in good company. Many of your peers are also pursuing their dream of owning a home. The 2022 Millennial & Gen Z Borrower Sentiment Report from Maxwell says: “Many young adults have demonstrated their resolve to embark on the journey toward homeownership soon. More than half of millennials and Gen Zs plan to apply for a mortgage sometime within the next year.” Let’s take a look at why homeownership makes the top of so many...

Taking the Fear out of Saving for a Home

Written by Emerald Coast Mortgage Syndicated User on November 1, 2022. Posted in Buying Myths, Down Payments, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Mortgage Emerald Coast, Move-Up Buyers.

If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. But it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might encounter. And to do that, turn to trusted real estate professionals. They can help you plan your finances and prepare your budget. Here are just a few costs experts say you can expect. 1. Down Payment Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need to save? While each situation is different, there’s a common...

Category: Buying Myths