What Mortgage Rate Are You Waiting For?

Written by Vero Beach Mortgage Syndicated User on August 27, 2024. Posted in Affordability, Mortgage Rates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the lowest point we’ve seen in 2024, according to Freddie Mac (see graph below):And if you’re thinking about buying a home, that may leave you wondering: how much lower are they going to go? Here’s some information that can help you know what to expect.Expert Projections for Mortgage RatesExperts say the overall downward trend should continue as long as inflation...

How Growing Inventory Benefits Today’s Buyers

Written by Vero Beach Mortgage Syndicated User on August 24, 2024. Posted in For Buyers, Infographics, Inventory, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Some HighlightsWhile the number of homes for sale varies by local area, nationally we’re up over 36% year-over-year, but still down almost 29% compared to what’s normal.?Here’s what that means when you buy: more options for your search, more negotiation power for you, it’s more likely sellers will make select repairs, and more moderate price growth.If you want to talk more about what rising inventory means for you, connect with a local real estate agent.

Today’s Biggest Housing Market Myths

Written by Vero Beach Mortgage Syndicated User on August 23, 2024. Posted in Buying Tips, Economy, For Buyers, Mortgage Rates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Have you ever heard the phrase: don’t believe everything you hear? That’s especially true if you’re thinking about buying or selling a home in today’s housing market. There’s a lot of misinformation out there. And right now, making sure you have someone you can go to for trustworthy information is extra important.If you partner with a real estate agent, they can clear up some common misconceptions and reassure you by backing them up with research-driven facts. Here are just a few misconceptions they can help disprove.1. I’ll Get a Better Deal Once Prices CrashIf you’ve heard home prices are...

The Number One Mistake Sellers Are Making: Overpricing Their House

Written by Vero Beach Mortgage Syndicated User on August 22, 2024. Posted in For Sellers, Home Prices, Selling Tips, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

In today’s housing market, many sellers are making a critical mistake: overpricing their houses. This common error can lead to a home sitting on the market for a long time without any offers. And when that happens, the homeowner may have to drop their asking price to try to re-ignite buyer interest.Data from Realtor.com shows the number of homeowners realizing this mistake and doing a price reduction is climbing (see graph below):If you’re thinking about making a move yourself, here’s what you need to know. The best way to avoid making a costly mistake is to work with a trusted real estate...

How To Choose a Great Local Real Estate Agent

Written by Vero Beach Mortgage Syndicated User on August 21, 2024. Posted in Agent Value, For Buyers, For Sellers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Selecting the right real estate agent can make a world of difference when buying or selling a home. But how do you find the best one? Here are some tips to help you make that big decision as you determine your partner in the process.Check Their ReputationStart by gathering information about agents in your area. From there, try to narrow down the list. Ask the people you trust if they have someone they’d recommend. You’ll want to find an agent with a strong online presence, plenty of positive reviews, and someone whose great reputation truly precedes them. As Freddie Mac explains:“. . . you may...

How Mortgage Rate Changes Impact Your Homebuying Power

Written by Vero Beach Mortgage Syndicated User on August 20, 2024. Posted in For Buyers, For Sellers, Mortgage Rates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

If you’re thinking about buying or selling a home, you’ve probably got mortgage rates on your mind. That’s because you’ve likely heard that mortgage rates impact how much you can afford in your monthly mortgage payment, and you want to factor that into your planning. Here’s what you need to know.What’s Happening with Mortgage Rates?Mortgage rates have been trending down recently. While that’s good news for your homebuying plans, it’s important to know that rates can be unpredictable because they’re affected by many factors. Things like the economy, job market, inflation, and decisions made by...

3 Reasons To Move in Today’s Shifting Market

Written by Vero Beach Mortgage Syndicated User on August 17, 2024. Posted in For Buyers, Infographics, Mortgage Rates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Some HighlightsThe housing market is in a transition. And that gives you 3 key opportunities going into the fall.There are more homes actively for sale. Builders are motivated to sell, so a newly built home may be more achievable than you think. And mortgage rates have come down from their recent peak.If you’re ready and able to buy, you may find the housing market this fall a bit easier to navigate. Connect with an agent to get started.?

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

Written by Vero Beach Mortgage Syndicated User on August 16, 2024. Posted in Agent Value, Buying Tips, First-Time Buyers, For Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

When you’re thinking about buying a home, your credit score is one of the biggest pieces of the puzzle. Think of it like your financial report card that lenders look at when trying to figure out if you qualify, and which home loan will work best for you. As the Mortgage Report says:“Good credit scores communicate to lenders that you have a track record for properly managing your debts. For this reason, the higher your score, the better your chances of qualifying for a mortgage.”The trouble is most buyers overestimate the minimum credit score they need to buy a home. According...

The Great Wealth Transfer: A New Era of Opportunity

Written by Vero Beach Mortgage Syndicated User on August 15, 2024. Posted in Affordability, Economy, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

In recent years, there’s been a significant shift in how wealth is distributed among generations. It’s called the Great Wealth Transfer.Historically, the transfer of wealth from one generation to the next was a more gradual process, often limited to smaller amounts of inheritance or family savings. But today, the scale has increased in a big way. As a recent article from Bankrate says:“The biggest wave of wealth in history is about to pass from Baby Boomers over the next 20 years, and it’s going to have major impacts on many facets of life. Called The Great Wealth Transfer, $84 trillion is poised...

Is Affordability Starting To Improve?

Written by Vero Beach Mortgage Syndicated User on August 14, 2024. Posted in Affordability, Economy, For Buyers, Home Prices, Mortgage Rates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it’s getting a little better and might keep improving throughout the rest of the year. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:“Housing affordability is improving ever so modestly, but it is moving in the right direction.”Here’s a look at the latest data on the three biggest factors affecting home affordability: mortgage rates, home prices, and wages. 1. Mortgage RatesMortgage rates have been volatile this year,...

Author: Vero Beach Mortgage Syndicated User