How To Navigate a Market Where Multiple Offers Is the New Normal

Written by Palm Beach Gardens Mortgage Syndicated User on March 11, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage.

If you’re thinking of buying a home today, you already know that the number of homes available for sale is low. But what does that really mean for you? As a buyer, low housing supply coupled with high buyer demand means you should be prepared to navigate a highly competitive market where homes sell fast and get multiple offers. Realtor.com has this to say: “Homes also flew off the market at record pace as buyers put offers in the moment properties came up for sale….” In a bidding war situation like this, doing everything you can to get ahead of the competition is a wise move. That’s because...

Key Factors That Impact Affordability Today

Written by Palm Beach Gardens Mortgage Syndicated User on March 10, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage, Pricing.

You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s buyers face. There’s no doubt homes are less affordable today than they were over the last two years, but that doesn’t mean homes are now unaffordable. There are three measures used to establish home affordability: home prices, mortgage rates, and wages. Let’s look closely at each of these components. 1. Home Prices The most recent Home Price Insights report by CoreLogic shows home values have increased by 19.1% from last January to this January. That was one reason...

Down Payment Assistance Programs Can Help You Achieve Homeownership

Written by Palm Beach Gardens Mortgage Syndicated User on March 6, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage.

For many homebuyers, the thought of saving for a down payment can feel daunting, especially in today’s market. That’s why, when asked what they find most difficult in the homebuying process, some buyers say it’s one of the hardest steps on the path to homeownership. Data from the National Association of Realtors (NAR) shows: “For first-time home buyers, 29 percent said saving for a downpayment [sic] was the most difficult step in the process.” If you’re finding that your down payment is your biggest hurdle, the good news is there are many down payment assistance programs available that can...

Are Home Prices Continuing To Rise?

Written by Palm Beach Gardens Mortgage Syndicated User on March 6, 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, Pricing.

Many analysts projected home price appreciation would slow dramatically in the fall of 2021 and then continue to soften throughout 2022. So far, that hasn’t happened. The major price indices are all revealing ongoing double-digit price appreciation. Here’s a look at their reports on year-over-year price appreciation for December: Federal Housing Finance Agency (FHFA): 17.6% S&P Case-Shiller: 18.8% CoreLogic: 18.5% To show that they’re not seeing signs of softening, here’s a graph that gives the progression of all three indices for each month of 2021. As the graph above reveals, last...

The Difference Between Renting and Owning [INFOGRAPHIC]

Written by Palm Beach Gardens Mortgage Syndicated User on March 6, 2022. Posted in First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage, Rent vs. Buy.

Some Highlights If you’re deciding whether to rent or buy, consider the many financial benefits that come with owning a home. As a renter, you build your landlord’s wealth and face rising costs. As a homeowner, you build your own net worth and can lock in your monthly payments for the length of your loan. If you’re weighing your options, remember that owning a home is a decision that has considerable financial perks. If you want to learn more, let’s connect to talk about the perks of homeownership. Content previously posted on Keeping Current Matters

Millennials: Do You Need a Home with More Space?

Written by Palm Beach Gardens Mortgage Syndicated User on March 6, 2022. Posted in Demographics, Down Payments, For Buyers, For Sellers, Millennials, Move-Up Buyers, Palm Beach Gardens Condo Financing, Palm Beach Gardens Mortgage.

If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home. If that’s the case, you’re not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the Wall Street Journal states: “They...

Category: Move-Up Buyers