What Buyers Say They Need Most (And How the Market’s Responding)

Written by Condotel Financing Florida Syndicated User on October 2, 2025. Posted in Affordability, Condotel Financing Florida, Condotel Mortgage Financing, First-Time Buyers, Florida Condotel, For Buyers, Home Prices, Mortgage, Mortgage Rates.

A recent survey from Bank of America asked would-be homebuyers what would help them feel better about making a move, and it’s no surprise the answers have a clear theme. They want affordability to improve, specifically prices and rates (see below):Here’s the good news. While the broader economy may still feel uncertain, there are signs the housing market is showing some changes in both of those areas. Let’s break it down so you know what you’re working with.Prices Are ModeratingOver the past few years, home prices climbed fast, sometimes so fast it left many buyers feeling shut out. But...

Closing Costs Unpacked: State-by-State Breakdowns for Today’s Buyers

Written by Condotel Financing Florida Syndicated User on September 30, 2025. Posted in Condotel Financing Florida, Condotel Mortgage Financing, First-Time Buyers, Florida Condotel, For Buyers, Mortgage.

If you’re planning to buy a home this year, there’s one expense you can’t afford to overlook: closing costs.Almost every buyer knows they exist, but not that many know exactly what they cover, or how different they can be based on where you’re buying. So, let’s break them down.What Are Closing Costs?Your closing costs are the additional fees and payments you make when finalizing your home purchase. Every buyer has them. According to Freddie Mac, they typically include things like homeowner insurance and title insurance, as well as various fees for your:Loan applicationCredit...

Mortgage Rates Just Saw Their Biggest Drop in a Year

Written by Condotel Financing Florida Syndicated User on September 11, 2025. Posted in Affordability, Condotel Financing Florida, Condotel Mortgage Financing, Economy, First-Time Buyers, Florida Condotel, For Buyers, Mortgage, Mortgage Rates.

You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way.On Friday, September 5th, the average 30-year fixed mortgage rate fell to the lowest level since October 2024. It was the biggest one-day decline in over a year.What Sparked the Drop?According to Mortgage News Daily, this was a reaction to the August jobs report, which came out weaker-than-expected for a second month in a row. That sent signals across the financial markets, and then mortgage rates came down as a result.Basically, we’re seeing signs the economy...

Should You Still Expect a Bidding War?

Written by Condotel Financing Florida Syndicated User on August 26, 2025. Posted in Condotel Financing Florida, Condotel Mortgage Financing, First-Time Buyers, Florida Condotel, For Buyers, Mortgage.

If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go.While multiple-offer situations haven’t disappeared entirely, they’re not nearly as common as they used to be. In fact, a recent survey shows agents reported only 1 in 5 homes (20%) nationally received multiple offers in June 2025.That’s down from nearly 1 in 3 (31%) just a year ago – and dramatically lower than in June 2023 (39%) (see graph below):This trend means you should face less competition when you buy. That gives you more time to make decisions and the...

From Frenzy to Breathing Room: Buyers Finally Have Time Again

Written by Condotel Financing Florida Syndicated User on August 22, 2025. Posted in Buying Tips, Condotel Financing Florida, Condotel Mortgage Financing, First-Time Buyers, Florida Condotel, For Buyers, Mortgage.

If you tried to buy a home a few years ago, you probably still remember the frenzy. Homes were listed one day and gone the next. Sometimes it only took hours. You had to drop everything to go and see the house, and if you hesitated even slightly, someone else swooped in and bought it – sometimes even sight unseen.That kind of intensity pushed a lot of buyers to the sidelines. It was stressful, chaotic, and for many, really discouraging.But here’s what you need to know: those days are behind us.Today’s market is moving slower, in the best possible way. And that’s creating more opportunity...

Condos Could Be a Win for Today’s Buyers

Written by Condotel Financing Florida Syndicated User on August 21, 2025. Posted in Affordability, Buying Tips, Condotel Financing Florida, Condotel Mortgage Financing, Downsize, First-Time Buyers, Florida Condotel, For Buyers, Home Prices, Inventory, Mortgage.

Not every homebuyer wants the biggest house on the block. Some want something simpler, more affordable, and easier to maintain, especially in a market where every dollar counts. That’s where condos come in.For first-time buyers, they can be a smart way to get into homeownership without stretching your budget. For downsizers, they offer less space to maintain with the flexibility to stay in a great location.And right now, condos are one of the most buyer-friendly parts of the market.Condo Inventory Is Up, And That Means More ChoiceAccording to the National Association of Realtors (NAR),...

The Truth About Down Payments (It’s Not What You Think)

Written by Condotel Financing Florida Syndicated User on August 5, 2025. Posted in Affordability, Buying Tips, Condotel Financing Florida, Condotel Mortgage Financing, First-Time Buyers, Florida Condotel, For Buyers, Mortgage, Rent vs. Buy.

Buying a home is exciting… until you start thinking about the down payment. That’s when the worry can set in.“I’ll never save enough.”“I need a small fortune just to get started.”“I guess I’ll just rent forever.”Sound familiar? You’re not alone. And you’re definitely not out of luck.Here’s the thing: a lot of what you’ve heard about down payments just isn’t true. And once you know the facts, you might realize you’re a lot closer to owning a home than you think.Let’s break it all down and bust some big down payment myths while we’re at it.Myth 1: “I need to come up with a big down...

What Credit Score Do You Really Need To Buy a Home?

Written by Condotel Financing Florida Syndicated User on July 31, 2025. Posted in Buying Tips, Condotel Financing Florida, Condotel Mortgage Financing, First-Time Buyers, Florida Condotel, For Buyers, Mortgage.

According to Fannie Mae, 90% of buyers don’t actually know what credit score lenders are looking for, or they overestimate the minimum needed.Let that sink in. That means most homebuyers think they need better credit than they actually do – and maybe you’re one of them. And that could make you think buying a home is out of reach for you right now, even if that’s not necessarily true. So, let’s look at what the data really says about credit scores and homebuying.There’s No One Magic NumberThere’s no universal credit score you absolutely have to have when buying a home. And that means there’s...

Why a Newly Built Home Might Be the Move Right Now

Written by Condotel Financing Florida Syndicated User on July 18, 2025. Posted in Affordability, Buying Tips, Condotel Financing Florida, Condotel Mortgage Financing, First-Time Buyers, Florida Condotel, For Buyers, Home Prices, Inventory, Mortgage, Mortgage Rates, Move-Up, New Construction, Rent vs. Buy.

Are you looking for better home prices, or even a lower mortgage rate? You might find both in one place: a newly built home. While many buyers are overlooking new construction, it could be your best opportunity in today’s market. Here’s why.There are more brand-new homes available right now than there were even just a few months ago. According to the most recent data from the Census and the National Association of Realtors (NAR), roughly 1 in 5 homes for sale right now is new construction. So, if you’re not looking at newly built homes, you’re missing out on a big portion of what’s...

Mortgage Rates Are Stabilizing – How That Helps Today’s Buyers

Written by Condotel Financing Florida Syndicated User on July 17, 2025. Posted in Condotel Financing Florida, Condotel Mortgage Financing, First-Time Buyers, Florida Condotel, For Buyers, For Sellers, Mortgage, Mortgage Rates.

Over the past few years, affordability has been the biggest challenge for homebuyers. Between rapidly rising home prices and higher mortgage rates, many have felt stuck between a rock and a hard place.But, something pretty encouraging is happening. While affordability is still tight, mortgage rates have shown signs of stabilizing in recent months. And that may finally make it a bit easier to plan your move.Mortgage Rates Have Stabilized – For NowOver the past year, mortgage rates have had their share of ups and downs, making it tough for buyers to know what to expect. But recently, rates...

Category: First-Time Buyers