How Buying or Selling a Home Benefits the Economy and Your Community

Written by Longboat Key Mortgage Mortgage Syndicated User on May 25, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key.

If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a large impact on your community too? To measure that impact, the National Association of Realtors (NAR) releases a report each year to highlight just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy: As the visual shows, a single home sale can have a significant effect on the overall economy. To dive a level deeper, NAR also provides a...

Sellers Have an Opportunity with Today’s Home Prices

Written by Longboat Key Mortgage Mortgage Syndicated User on May 25, 2022. Posted in For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers, Pricing.

As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend. According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green: This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand...

Sellers Have an Opportunity as Home Prices Re-Accelerate

Written by Longboat Key Mortgage Mortgage Syndicated User on May 24, 2022. Posted in For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers, Pricing.

The One Thing Every Homeowner Needs To Know About a Recession

Written by Longboat Key Mortgage Mortgage Syndicated User on May 19, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key.

A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession, and if true, an economic slowdown doesn’t mean homes will lose value. The National Bureau of Economic Research (NBER) defines a recession this way: “A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches...

Why Rising Mortgage Rates Push Buyers off the Fence

Written by Longboat Key Mortgage Mortgage Syndicated User on May 17, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers.

If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans. Today, buyers are reacting in one of two ways: they’re either making the decision to buy now before rates climb higher or they’re waiting it out in hopes rates will fall. Let’s look at some context that can help you understand why so many buyers are jumping off the fence and into action rather than waiting to buy. A...

If You’re a Homeowner, You Have Incredible Leverage When You Sell Today

Written by Longboat Key Mortgage Mortgage Syndicated User on May 16, 2022. Posted in For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key.

In today’s housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation. That’s because there’s a limited number of homes for sale, which is creating competition among buyers. Right now, homebuyers want three things: To be the winning bid on their dream home To buy before mortgage rates rise more To buy before home prices go even higher These buyer needs give you an amazing advantage – also known as leverage – when you sell. What Does This Mean for Sellers Today? You might already realize this enables you to sell at a good...

What You Actually Need To Know About the Number of Foreclosures in Today’s Housing Market

Written by Longboat Key Mortgage Mortgage Syndicated User on May 12, 2022. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key.

While you may have seen recent stories about the volume of foreclosures today, context is important. During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The goal was to help homeowners financially during the uncertainty created by the health crisis. When the forbearance program began, many experts were concerned it would result in a wave of foreclosures coming to the market, as there was after the housing crash in 2008. Here’s a look at why the number of foreclosures we’re seeing today is nothing like the last time. 1. There Are Fewer...

Are There More Homes Coming to the Market?

Written by Longboat Key Mortgage Mortgage Syndicated User on May 11, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers.

According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today. If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search. Early Signs Inventory May Be Growing The latest data from realtor.com shows the number of listings coming onto the market, known...

Will Home Prices Fall This Year? Here’s What Experts Say.

Written by Longboat Key Mortgage Mortgage Syndicated User on May 10, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers, Pricing.

Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals. What’s Happening with Home Prices? Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says: “Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.” So why are prices climbing so much? It’s because there are more buyers than...

Today’s Home Price Appreciation Is Great News for Existing Homeowners

Written by Longboat Key Mortgage Mortgage Syndicated User on May 2, 2022. Posted in For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers, Pricing.

If you’re planning to sell your home this season, rising prices are great news for you. But it’s important to understand why prices are rising to begin with. One major factor is supply and demand. In any industry, when there are more buyers for an item than there are of that item available, prices naturally rise. In those situations, buyers are willing to pay more to get the product or service they’re looking for when options are scarce. And that’s exactly what’s happening in the current real estate market. Selma Hepp, Executive, Research & Insights and Deputy Chief Economist at CoreLogic,...

Category: Housing Market Updates