Why Today’s Housing Inventory Shows a Crash Isn’t on the Horizon

Written by Vero Beach Mortgage Syndicated User on September 28, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008.One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening.Housing supply comes from three main sources:Homeowners deciding to sell their housesNewly built...

The Return of Normal Seasonality for Home Price Appreciation

Written by Vero Beach Mortgage Syndicated User on September 27, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing, Selling Myths, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

If you’re thinking of making a move, one of the biggest questions you have right now is probably: what’s happening with home prices? Despite what you may be hearing in the news, nationally, home prices aren’t falling. It’s just that price growth is beginning to normalize. Here’s the context you need to really understand that trend.In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler months...

Beginning with Pre-Approval

Written by Vero Beach Mortgage Syndicated User on September 26, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

If you’re looking to buy a home this fall, there are a few things you need to know. Affordability is tight with today’s mortgage rates and rising home prices. At the same time, there’s a limited number of homes on the market right now and that’s creating some competition among buyers. But, if you’re strategic, there are ways to navigate these waters. The first thing you’ll want to do is get pre-approved for a mortgage. That way you’ll know your numbers and can set yourself up for success from the start of your home search.What Pre-Approval Does for YouTo understand why it’s such an important...

How Remote Work Helps with Your House Hunt [INFOGRAPHIC]

Written by Vero Beach Mortgage Syndicated User on September 23, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Some HighlightsWhile remote work peaked during the pandemic, many people still work from home today.If you’re one of them, it could have an unexpected benefit when you’re looking to buy a home.If you can work from home, you might have more choices for where to live. Connect with a real estate agent to talk about your options and what’s most important to you.

The Many Non-Financial Benefits of Homeownership

Written by Vero Beach Mortgage Syndicated User on September 22, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Buying and owning your own home can have a big impact on your life. While there are financial reasons to become a homeowner, it’s essential to think about the non-financial benefits that make a home more than just a place to live.Here are some of the top non-financial reasons to buy a home.According to Fannie Mae, 94% of survey respondents say “Having Control Over What You Do with Your Living Space” is a top reason to own.Your home is truly your own space. If you own a home, unless there are specific homeowner association requirements, you can decorate and change it the way you like. That...

Remote Work Is Changing How Some Buyers Search for Their Dream Homes

Written by Vero Beach Mortgage Syndicated User on September 21, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

The way Americans work has changed in recent years, and remote work is at the forefront of this shift. Experts say it’ll continue to be popular for years to come and project that 36.2 million Americans will be working remotely by 2025. To give you some perspective, that’s a 417% increase compared to the pre-pandemic years when there were just 7 million remote workers.If you’re in the market to buy a home and you work remotely either full or part-time, this trend is a game-changer. It can help you overcome some of today’s affordability and housing inventory challenges.How Remote Work Helps...

Why Is Housing Inventory So Low?

Written by Vero Beach Mortgage Syndicated User on September 15, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, New Construction, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. Here’s why.There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply.Underbuilding Is a Long-Standing ProblemOne of the big reasons inventory is low is because builders haven’t been building...

Should Baby Boomers Buy or Rent After Selling Their Houses?

Written by Vero Beach Mortgage Syndicated User on September 14, 2023. Posted in Baby Boomers, Buying Myths, Demographics, For Buyers, Rent vs. Buy, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider. Will you move to a different state or stay nearby? Is it time to downsize or do you want more space to accommodate your loved ones? But maybe the biggest consideration boils down to this – will you buy your next home or choose to rent instead?That decision ultimately depends on your current situation and your future plans. Here are two important factors to help you decide what’s right for you.Expect Rents to Keep Going...

What Experts Project for Home Prices Over the Next 5 Years

Written by Vero Beach Mortgage Syndicated User on September 13, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

If you’re planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment. While you may have seen negative news over the past year about home prices, they’re doing far better than expected and are rising across the country. And data shows, experts forecast home prices will keep appreciating.Experts Project Ongoing AppreciationPulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the panelists...

Get Ready for Smaller, More Affordable Homes

Written by Vero Beach Mortgage Syndicated User on September 8, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Vero Beach Condo Financing, Vero Beach Mortgage, Vero Beach Mortgage Rates.

Have you been trying to buy a home, but higher mortgage rates and home prices are limiting your options? If so, here’s some good news – based on what Ali Wolf, Chief Economist at Zonda, has to say – smaller, more affordable homes are on the way:“Buyers should expect that over the next 12 to 24 months there will be a notable increase in the number of entry-level homes available.”In some ways, smaller homes are already here. When the pandemic hit, the meaning of home changed. People needed the space their home provided not only as a place to live, but as a place to work, go to school, exercise,...

Category: For Buyers