There Are Several Great Reasons To Consider Buying a Condo Today

Written by Emerald Coast Mortgage Syndicated User on April 1, 2022. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Mortgage Emerald Coast, Pricing.

If you’re a first-time buyer looking to break into the housing market but struggling to find a home to buy, condominiums (or condos) could be a great alternative for you. Here are a few reasons condos may be something you’ll want to consider. Exploring Condos Could Add Options That Fit Your Budget Supply challenges are a reality across the board in today’s housing market. Broadening your home search to include condos could increase your overall pool of options. Just keep in mind, condos generally differ from single-family homes in average space and floorplans. In a recent article, Bankrate...

Owning Is More Affordable than Renting in the Majority of the Country

Written by Emerald Coast Mortgage Syndicated User on February 1, 2022. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Interest Rates, Mortgage Emerald Coast, Pricing, Rent vs. Buy.

If you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices and increasing mortgage rates, there’s something you should consider. According to the latest report from ATTOM Data, owning a home is more affordable than renting in the majority of the country. The 2022 Rental Affordability Report says: “. . . Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller portion...

Expert Insights on the 2022 Housing Market

Written by Emerald Coast Mortgage Syndicated User on January 1, 2022. Posted in Emerald Coast Mortgage, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Pricing.

As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022. Odeta Kushi, Deputy Chief Economist, First American: “Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.” Danielle Hale, Chief Economist, realtor.com: “Affordability will increasingly be a challenge...

Why Now Is a Great Time To Sell Your House

Written by Emerald Coast Mortgage Syndicated User on December 1, 2021. Posted in Emerald Coast Mortgage, For Sellers, Housing Market Updates, Mortgage Emerald Coast, Move-Up Buyers, Pricing, Selling Myths.

As we near the end of the year, more homeowners are realizing the benefits of today’s sellers’ market. Record-breaking home price appreciation, growing equity, low inventory, and competitive mortgage rates are motivating homeowners to make a move that addresses their changing lifestyles. In fact, recent data from realtor.com shows a larger share of homeowners are planning to list their houses this winter. So, that means more homes are about to hit the market, which will lead to more choices for buyers too. According to George Ratiu, Manager of Economic Research at realtor.com: “The pandemic...

Renters Missed Out on $51,500 This Past Year

Written by Emerald Coast Mortgage Syndicated User on November 1, 2021. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Mortgage Emerald Coast, Pricing, Rent vs. Buy.

Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic: “Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.” Looking back, we can see rents rising isn’t new. The median rental price has increased consistently over the past 33 years (see graph below):If you’re thinking of renting...

Housing Challenge or Housing Opportunity? It Depends.

Written by Emerald Coast Mortgage Syndicated User on November 1, 2021. Posted in Emerald Coast Mortgage, For Sellers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers, Pricing.

The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we’ve experienced historically. There are many reasons for the limited number of homes on the market, but as you can see in the graph below, we’re well below where we’ve been for most of the past 10 years. Today, across the country, there is only a 2.4-month supply of homes available for sale. The Opportunity This lack of homes for sale is creating a challenge for many buyers who are growing frustrated...

As Home Equity Rises, So Does Your Wealth

Written by Emerald Coast Mortgage Syndicated User on October 1, 2021. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Mortgage Emerald Coast, Move-Up Buyers, Pricing.

Homeownership is still a crucial part of the American dream. For those people who own a home (and those looking to buy one), it’s clear that being a homeowner has considerable benefits both emotionally and financially. In addition to long-term stability, buying a home is one of the best ways to increase your net worth. This boost to your wealth comes in the form of equity. Equity is the difference between what you owe on the home and its market value based on factors like price appreciation. The best thing about equity is that it often grows without you even realizing it, especially in a sellers’...

Home Price Appreciation Is Skyrocketing in 2021. What About 2022?

Written by Emerald Coast Mortgage Syndicated User on September 11, 2021. Posted in Emerald Coast Mortgage, For Buyers, For Sellers, Housing Market Updates, Mortgage Emerald Coast, Pricing.

One of the major story lines over the last year is how well the residential real estate market performed. One key metric in the spotlight is home price appreciation. According to the latest indices, home prices are skyrocketing this year. Here are the latest percentages showing the year-over-year increase in home price appreciation: The House Price Index (HPI) from the Federal Housing Finance Agency (FHFA): 18.8% The S. National Home Price Index from S&P Case-Shiller: 18.6% The Home Price Insights Report from CoreLogic: 18% The dramatic increases are seen at every price point and in...

Fact or Fiction: Homebuyer Edition [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on September 11, 2021. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers, Pricing.

Some Highlights When it comes to the current housing market, there are multiple misconceptions – from what the current supply of available homes looks like to how much houses are selling for. It takes professionals who study expert opinions and data to truly understand the real estate market and separate fact from fiction. Trust the pros. If you want to understand why it’s still a good time to buy, let’s connect today. Content previously posted on Keeping Current Matters

Understand Your Options To Avoid Foreclosure

Written by Emerald Coast Mortgage Syndicated User on September 11, 2021. Posted in Distressed Properties, Emerald Coast Mortgage, For Sellers, Foreclosures, Housing Market Updates, Mortgage Emerald Coast, Pricing, Short Sales.

Even though experts agree there’s no chance of a large-scale foreclosure crisis, there are a number of homeowners who may be coming face-to-face with foreclosure as a possibility. And while the overall percentage of homeowners at risk is decreasing with time (see graph below), that’s little comfort to those individuals who are facing challenges today.If you haven’t taken advantage of the forbearance period, it may be time to research and understand your options. It starts with knowing what foreclosure is. Investopedia defines it like this: “Foreclosure is the legal process by which a lender...

Category: Pricing