The True Value of Homeownership

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

Buying and owning your home can make a big difference in your life by bringing you joy and a sense of belonging. And with June being National Homeownership Month, it’s the perfect time to think about all the benefits homeownership provides. Of course, there are financial reasons to buy a house, but it’s important to consider the non-financial benefits that make a home more than just where you live.Here are three ways owning your home can give you a sense of accomplishment, happiness, and pride. You May Feel Happier and More Fulfilled Owning a home is associated with better mental health and...

Keys to Success for First-Time Homebuyers

Written by Emerald Coast Mortgage Syndicated User on June 1, 2023. Posted in Down Payments, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Mortgage Emerald Coast.

Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that have made it more challenging in recent years:“Since 2011, the share of first-time home buyers has been under the historical norm of 40% as buyers face tight inventory, rising home prices, rising rents and high student debt loads.”That said, if you’re looking to purchase your first home, here are two things...

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

Written by Emerald Coast Mortgage Syndicated User on June 1, 2023. Posted in Emerald Coast Mortgage, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage Emerald Coast, 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 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...

Ways To Overcome Affordability Challenges in Today’s Housing Market [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on May 1, 2023. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers, Pricing.

Some HighlightsWith so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget.You can also work with a trusted lender to consider alternative financing options and search for down payment assistance.If you’ve been searching for a home but are concerned about rising costs, make sure you have a team of trusted real estate professionals for expert advice.

The Three Factors Affecting Home Affordability Today

Written by Emerald Coast Mortgage Syndicated User on May 1, 2023. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers, Pricing.

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages.Considering how each one of these factors is changing gives you the full picture of home affordability today. Here’s the latest.1. Mortgage RatesWhile mortgage rates are higher than they were a year ago, they’ve hovered primarily between...

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.

What You Should Know About Rising Mortgage Rates

Written by Emerald Coast Mortgage Syndicated User on March 1, 2023. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers.

After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down.