Using Your Tax Refund To Achieve Your Homeownership Goals This Year

Written by Palm Beach Gardens Mortgage Syndicated User on April 12, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage.

If you’re buying or selling a home this year, you’re likely saving up for a variety of expenses. For buyers, that might include things like your down payment and closing costs. And for sellers, you’re probably working on a bit of spring cleaning and maintenance to spruce up your house before you list it. Either way, any money you get back from your taxes can help you achieve your goals. Using a tax refund is a common tactic for buyers and sellers. SmartAsset estimates the average American will receive a $2,897 tax refund this year. The map below provides a more detailed estimate by state: If...

Do You Know How Much Equity You Have in Your Home? [INFOGRAPHIC]

Written by Palm Beach Gardens Mortgage Syndicated User on April 9, 2022. Posted in For Sellers, Housing Market Updates, Infographics, Move-Up Buyers, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage.

Some Highlights If you’re a homeowner, your net worth has gotten a big boost. That’s because recent home price appreciation has increased your equity. Your equity grows as you pay down your loan and as your home increases in value. Over the past year, the average homeowner’s equity grew by $55,300. Ready to sell? Let’s connect to talk about how you can use that equity to fuel your next move. Content previously posted on Keeping Current Matters

The Future of Home Price Appreciation and What It Means for You

Written by Palm Beach Gardens Mortgage Syndicated User on April 8, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage, Pricing.

Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will lead to a situation similar to the housing crash 15 years ago. However, experts say the market is totally different today. For example, Odeta Kushi, Deputy Chief Economist at First American, tweeted just last week on this issue: “. . . We do need price appreciation to slow today (it’s not sustainable over the long run) but high price growth today is supported by fundamentals- short supply, lower rates & demographic demand. And we are in a...

What’s Happening with Mortgage Rates, and Where Will They Go from Here?

Written by Palm Beach Gardens Mortgage Syndicated User on March 31, 2022. Posted in For Buyers, Housing Market Updates, Interest Rates, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage, Pricing.

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year: Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed...

The Best Week To List Your House Is Just Around the Corner

Written by Palm Beach Gardens Mortgage Syndicated User on March 30, 2022. Posted in For Sellers, Housing Market Updates, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage.

Are you thinking about selling your house? If so, you may want to make it a priority to start the process soon. According to realtor.com, the sweet spot for sellers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years (excluding 2020, since it was an atypical year). When applied to the current market, experts determined the ideal week to list a house this year. The research says: “Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in...

A Key To Building Wealth Is Homeownership

Written by Palm Beach Gardens Mortgage Syndicated User on March 29, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage, Rent vs. Buy.

The link between financial security and homeownership is especially important today as inflation rises. But many people may not realize just how much owning a home contributes to your overall net worth. As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says: “Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability.” Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal. Owning a Home Is a Building Block for Financial Success A recent...

What You Can Expect from the Spring Housing Market

Written by Palm Beach Gardens Mortgage Syndicated User on March 25, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage, Pricing.

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune. Here’s a look at what experts say you can expect this spring. 1. Mortgage Rates Will Climb Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some...

What You Need To Know if You’re Thinking About Building a Home

Written by Palm Beach Gardens Mortgage Syndicated User on March 24, 2022. Posted in For Buyers, Housing Market Updates, Move-Up Buyers, New Construction, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage.

If you’re ready to move up, you may be trying to decide whether you want to buy a home that’s already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct more houses and help narrow the supply shortage, they’re also facing delays due to factors outside of their control. Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact your plans to move up. When you know what’s happening in the industry,...

The Average Homeowner Gained More Than $55K in Equity over the Past Year

Written by Palm Beach Gardens Mortgage Syndicated User on March 22, 2022. Posted in For Sellers, Housing Market Updates, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage, Pricing.

If you’re a current homeowner, you should know your net worth just got a big boost. It comes in the form of rising home equity. Equity is the current value of your home minus what you owe on the loan. Today, you’re building that equity far faster than you may expect – and this gain is great news for you. Here’s how it happened. Home values are on the rise thanks to low housing supply and high buyer demand. Basically, there aren’t enough homes available to meet this high buyer interest, so bidding wars are driving home prices up. When you own a home, the rising prices mean your home is worth...

Did Your Dream Home Just Come on the Market?

Written by Palm Beach Gardens Mortgage Syndicated User on March 18, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage.

For the first time in a long time, the number of newly listed homes is beginning to rise. In their latest monthly release, realtor.com reveals the number of existing homes entering the market has increased for two months in a row (this comes after six months of declines). Here’s a graph showing the monthly new listings going back to January of last year. The green bars indicate the first gains since June. However, buying demand is still outpacing housing supply. Though the increase in homes coming to the market is great news for prospective homebuyers, the number of buyers is still outpacing...

Category: Housing Market Updates