Homeowners Have a Lot of Equity Right Now [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on September 1, 2023. Posted in Emerald Coast Mortgage, For Sellers, Housing Market Updates, Infographics, Mortgage Emerald Coast.

Some HighlightsYour equity grows as you pay down your home loan and as home prices increase. With home prices rising again, your equity is getting an extra boost.Almost half of homeowners are equity rich because they have at least 50% equity in their homes. If you’ve been in your home for a while, you might have gained a considerable amount of equity, too.Want to find out how much equity you have? Connect with a trusted real estate agent for a Professional Equity Assessment Report (PEAR).

Buyer Traffic Is Still Stronger than the Norm

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

Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it.The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of...

How Inflation Affects the Housing Market

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

Have you ever wondered how inflation impacts the housing market? Believe it or not, they’re connected. Whenever there are changes to one, both are affected. Here’s a high-level overview of the connection between the two.The Relationship Between Housing Inflation and Overall InflationShelter inflation is the measure of price growth specific to housing. It comes from a survey of renters and homeowners that’s done by the Bureau of Labor Statistics (BLS). The survey asks renters how much they’re paying in rent, and homeowners how much they’d rent their homes for, if they weren’t living in them.Much...

Why You May Still Want To Sell Your House After All

Written by Emerald Coast Mortgage Syndicated User on September 1, 2023. Posted in Demographics, Emerald Coast Mortgage, For Sellers, Mortgage Emerald Coast, Selling Myths.

Even though you may feel reluctant to sell your house because you don’t want to take on a mortgage rate that’s higher than the one you have now, there’s more to consider. While the financial side of things does matter, your personal needs may actually matter just as much. As an article from Bankrate says:“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market.”So, ask yourself this: why did I want to move in the first place?Chances are your...

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...

Pricing Your House Right Still Matters Today

Written by Emerald Coast Mortgage Syndicated User on August 1, 2023. Posted in Emerald Coast Mortgage, For Sellers, Market Updates, Mortgage Emerald Coast, Pricing.

While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month and the average saw 3.5 offers in June.To set yourself up to see advantages like these, you need to rely on an agent. Only an agent has the expertise needed to find the right asking price for your house. Here’s what’s at stake if that price isn’t accurate for today’s market value.The...

Key Housing Market Trends [INFOGRAPHIC]

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

Some HighlightsIf you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market.Housing inventory is still very low, prices are climbing back up, and homes are selling fast when priced right.Connect with a real estate agent if you want more information about your local area and what the trends mean for your plans to buy or sell.

Homebuyers Are Still More Active Than Usual

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

Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong today.The ShowingTime Showing Index is a measure of how much buyers are touring homes. The graph below uses that index to illustrate buyer activity trends over time to help put today into the proper perspective.It shows there’s seasonality in real estate. If you look at the last normal years in the market (shown in gray), there was a consistent pattern as buyer activity peaked...

Key Reasons To Use a Real Estate Agent When You Sell [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on July 1, 2023. Posted in Emerald Coast Mortgage, For Sellers, FSBOs, Infographics, Mortgage Emerald Coast.

Some HighlightsAn agent is a really important part of selling your home because they bring a lot of skill and expertise to the sales process.They’ll explain what’s happening today, what that means for you, and how to price and market your house. They’re also skilled negotiators and well versed in the contracts and disclosures involved.Connect with a local real estate agent to ensure you have an expert helping you sell your house successfully.

Lending Standards Are Not Like They Were Leading Up to the Crash

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

You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008. One of which is how lending standards are different today. Here’s a look at the data to help prove it. Every month, the Mortgage Bankers Association (MBA) releases the Mortgage Credit Availability Index (MCAI). According to their website:“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is . . . a summary measure which indicates the availability of mortgage credit at a point in time.”Basically,...

Category: For Sellers