Important Distinction: Homes Are Less Affordable, Not Unaffordable

Written by Condotel Financing Florida Syndicated User on October 22, 2021. Posted in Buying Myths, Condotel Financing Florida, Condotel Mortgage Financing, First Time Home Buyers, Florida Condotel, For Buyers, Housing Market Updates, Mortgage.

It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been. Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here’s what the report...

Looking To Move? It Could Be Time To Build Your Dream Home.

Written by Condotel Financing Florida Syndicated User on October 21, 2021. Posted in Condotel Financing Florida, Condotel Mortgage Financing, Florida Condotel, For Buyers, For Sellers, Mortgage, Move-Up Buyers, New Construction.

While today’s supply of homes for sale is still low, the number of newly built homes is increasing. If you’re ready to sell but have held off because you weren’t sure you’d be able to find a home to move into, newly built homes and those under construction can provide the options you’ve been waiting for. The latest Census data shows the inventory of new homes is increasing this year (see graph below):With more new homes coming to the market, this means you’ll have more options to choose from if you’re ready to buy. Of course, if you do consider a newly built home, you’ll want to keep timing...

What Does the Future Hold for Home Prices?

Written by Condotel Financing Florida Syndicated User on October 20, 2021. Posted in Buying Myths, Condotel Financing Florida, Condotel Mortgage Financing, Florida Condotel, For Buyers, For Sellers, Housing Market Updates, Mortgage, Pricing, Selling Myths.

If you’re looking to buy or sell a house, chances are you’ve heard talk about today’s rising home prices. And while this increase in home values is great news for sellers, you may be wondering what the future holds. Will prices continue to rise with time, or should you expect them to fall? To answer that question, let’s first understand a few terms you may be hearing right now. Appreciation is an increase in the value of an asset. Depreciation is a decrease in the value of an asset. Deceleration is when something happens at a slower pace. It’s important to note home prices have increased,...

Homebuyer Tips for Finding the One [INFOGRAPHIC]

Written by Condotel Financing Florida Syndicated User on October 16, 2021. Posted in Condotel Financing Florida, Condotel Mortgage Financing, First Time Home Buyers, Florida Condotel, For Buyers, Infographics, Mortgage, Move-Up Buyers.

Some Highlights The best advice carries across multiple areas of life. When it comes to homebuying, a few simple tips can help you stay on track. Because of increased demand, you’ll need to be patient and embrace compromises during your search. Then, once you’ve fallen in love, commit by putting your best offer forward. If you’re looking to buy a home this year, let’s connect so you have a dedicated partner and teammate to help you find the one. Content previously posted on Keeping Current Matters

The Big Question: Should You Renovate or Move?

Written by Condotel Financing Florida Syndicated User on October 14, 2021. Posted in Condotel Financing Florida, Condotel Mortgage Financing, Florida Condotel, For Buyers, For Sellers, Interest Rates, Mortgage, Move-Up Buyers, Pricing.

The last 18 months changed what many buyers are looking for in a home. Recently, the American Institute of Architects released their AIA Home Design Trends Survey results for Q3 2021. The survey reveals the following: 70% of respondents want more outdoor living space 69% of respondents want a home office (48% wanted multiple offices) 46% of respondents want a multi-function room/flexible space 42% of respondents want an au pair/in-law suite 39% of respondents want an exercise room/yoga space If you’re a homeowner who wants to add any of the above, you have two options: renovate your current...

Don’t Wait for a Lower Mortgage Rate – It Could Cost You

Written by Condotel Financing Florida Syndicated User on October 13, 2021. Posted in Buying Myths, Condotel Financing Florida, Condotel Mortgage Financing, First Time Home Buyers, Florida Condotel, For Buyers, Housing Market Updates, Interest Rates, Mortgage, Move-Up Buyers.

Today’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn’t over just yet. If you’re one of the buyers who worry they’ve missed out, rest assured today’s mortgage rates are still worth taking advantage of. Even today, our mortgage rates are below what they’ve been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you’re still in a great position to secure a rate well...

Experts Agree: Homeownership Provides a Path to Long-Term Wealth

Written by Condotel Financing Florida Syndicated User on October 12, 2021. Posted in Condotel Financing Florida, Condotel Mortgage Financing, First Time Home Buyers, Florida Condotel, For Buyers, Mortgage, Rent vs. Buy.

A recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead of renting. Some of the most popular non-financial reasons given include: The flexibility to make the space your own The pride homeownership offers The sense of stability In the same survey, 41% of respondents say they’d rather own a home than rent because of the unique way homeownership builds wealth over time. And experts agree – the home you own is an important tool for building your net worth. Here’s what many of those experts have to say about building long-term...

111,285 Reasons You Should Buy a Home This Year

Written by Condotel Financing Florida Syndicated User on October 8, 2021. Posted in Condotel Financing Florida, Condotel Mortgage Financing, First Time Home Buyers, Florida Condotel, For Buyers, Housing Market Updates, Mortgage, Move-Up Buyers, Rent vs. Buy.

The financial benefits of buying a home versus renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner. According to the latest research from the National Association of Realtors (NAR): “Homeownership is a key pathway to building wealth and narrowing the racial income and wealth inequality gap. Housing wealth (equity) accumulation takes time and is built up by price appreciation and paying off the mortgage.” An increase in equity builds the wealth of the individual that owns it. This wealth can be passed down...

What Do Supply and Demand Tell Us About Today’s Housing Market?

Written by Condotel Financing Florida Syndicated User on October 7, 2021. Posted in Condotel Financing Florida, Condotel Mortgage Financing, First Time Home Buyers, Florida Condotel, For Buyers, Housing Market Updates, Mortgage, Move-Up Buyers, Pricing.

There’s a well-known economic theory – the law of supply and demand – that explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is very low, prices can rise significantly. Understanding the impact both supply and demand have can provide the answers to a few popular questions about today’s housing market: Why are prices rising? Where are prices headed? What does this mean for homebuyers? Why Are Prices Rising? According...

The Main Key To Understanding the Rise in Mortgage Rates

Written by Condotel Financing Florida Syndicated User on October 6, 2021. Posted in Condotel Financing Florida, Condotel Mortgage Financing, First Time Home Buyers, Florida Condotel, For Buyers, Housing Market Updates, Interest Rates, Mortgage, Move-Up Buyers.

Every Thursday, Freddie Mac releases the results of their Primary Mortgage Market Survey which reveals the most recent movement in the 30-year fixed mortgage rate. Last week, the rate was announced as 3.01%. It was the first time in three months that the mortgage rate surpassed 3%. In a press release accompanying the survey, Sam Khater, Chief Economist at Freddie Mac, explains: “Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June.” The reason Khater mentions the 10-year U.S. Treasury yield is because there has been a...

Category: For Buyers