Homeownership Wins Over Time [INFOGRAPHIC]

Written by Vero Beach Mortgage Syndicated User on November 5, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Move-Up Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Some Highlights If you’re questioning whether or not to buy a home this year due to today’s cooling market, consider the long-term financial benefits of homeownership. As a homeowner, equity increases your wealth. On average, nationwide, home prices appreciated by 290.2% since 1991. Homeownership wins in the long run. If you’re ready to buy a home, let’s connect today. Content previously posted on Keeping Current Matters

Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be.

Written by Vero Beach Mortgage Syndicated User on November 4, 2022. Posted in Demographics, First Time Home Buyers, For Buyers, Gen Z, Millennials, Move-Up Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

It turns out, millennials aren’t the renter generation after all. The 2022 Consumer Insights Report from Mynd says there’s a portion of millennial and Gen Z buyers who are pursuing homeownership as a way to build their wealth, but it may not be exactly the way previous generations have done it. The study explains how they’re breaking into the market: “. . . younger generations of Americans are not buying into that dream in the same way that older generations have. A growing number of Americans are choosing to make their first real estate purchase as an investment property.” Instead of buying...

3 Trends That Are Good News for Today’s Homebuyers

Written by Vero Beach Mortgage Syndicated User on November 2, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

While higher mortgage rates are creating affordability challenges for homebuyers this year, there is some good news for those people still looking to buy a home. As the market has cooled this year, some of the intensity buyers faced during the peak frenzy of the pandemic has cooled too. Here are just a few trends that may benefit you when you go to buy a home today. 1. More Homes To Choose from During the pandemic, housing supply hit a record low at the same time buyer demand skyrocketed. This combination made it difficult to find a home because there just weren’t enough to meet buyer demand....

Taking the Fear out of Saving for a Home

Written by Vero Beach Mortgage Syndicated User on November 1, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. But it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might encounter. And to do that, turn to trusted real estate professionals. They can help you plan your finances and prepare your budget. Here are just a few costs experts say you can expect. 1. Down Payment Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need to save? While each situation is different, there’s a common...

Applying for a Mortgage Doesn’t Have To Be Scary [INFOGRAPHIC]

Written by Vero Beach Mortgage Syndicated User on October 29, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Some Highlights Even with higher mortgage rates, the mortgage process doesn’t need to be something you fear. Here are some steps to help as you set out to buy a home. Know your credit score and work to build strong credit. When you’re ready, lean on the pros and connect with a lender so you can get pre-approved and begin your home search. Any major life change can be scary, and buying a home is no different. Let’s connect so you have an advisor by your side to take fear out of the equation. Content previously posted on Keeping Current Matters

Pre-Approval Is a Critical First Step on Your Homebuying Journey

Written by Vero Beach Mortgage Syndicated User on October 25, 2022. Posted in First Time Home Buyers, For Buyers, Move-Up Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

If you’re planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months ago, getting a mortgage pre-approval can be a game changer. Here’s why. What Is Pre-Approval? To better understand why pre-approval is key, it’s important to know what pre-approval is. The Mortgage Reports explains it like this: “When you’re ready to take the leap into homeownership, your first step is mortgage preapproval. . . . A mortgage preapproval is when a lender determines you’re qualified...

Should You Still Buy a Home with the Latest News About Inflation?

Written by Vero Beach Mortgage Syndicated User on October 20, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%. This news impacted the stock market and added fuel to the fire for conversations about a recession. You’re likely feeling the impact in your day-to-day life as you watch the cost of goods and services climb. The pinch it’s creating on your wallet and the looming economic uncertainty may leave you wondering: “should I still buy a home right now?” If that question is top of mind for you, here’s what you need to know. Homeownership Is Historically a Great...

The Latest on Supply and Demand in Housing

Written by Vero Beach Mortgage Syndicated User on October 19, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point. The graph below helps tell the story of just how different things are today. This year, buyer demand has eased as higher mortgage rates and mounting economic uncertainty moderated the market. This slowdown in demand is clear when you look at the red bar on the graph. It uses the latest data from ShowingTime to illustrate how showings (an indicator of buyer demand)...

The Emotional and Non-financial Benefits of Homeownership

Written by Vero Beach Mortgage Syndicated User on October 18, 2022. Posted in First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

With higher mortgage rates, you might be wondering if now’s the best time to buy a home. While the financial aspects are important to consider, there are also powerful non-financial reasons it may make sense to make a move. Here are just a few of the benefits that come with homeownership. Homeowners Can Make Their Home Truly Their Own Owning your home gives you a significant sense of accomplishment because it’s a space you can customize to your heart’s desire. That can bring you added happiness. In fact, a report from the National Association of Realtors (NAR) shows making updates or remodeling...

Tips For First-Time Homebuyers [INFOGRAPHIC]

Written by Vero Beach Mortgage Syndicated User on October 15, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Some Highlights If you’re trying to buy your first home in today’s housing market, you’ll want to know what you can do as mortgage rates rise and inventory stays low overall. Connect with a lender to get pre-approved, prioritize your wish list, consider condos, and expand your search radius. Your first home is out there. Let’s connect to explore your options and what other first-time buyers are doing to find their homes. Content previously posted on Keeping Current Matters

Category: First Time Home Buyers