There Are More Homes Available Now than There Were This Spring

Written by Longboat Key Mortgage Mortgage Syndicated User on October 26, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers.

There’s a lot of talk lately about how challenging it can be to find a home to buy. While housing inventory is still low, there are a few important things to understand about the supply of homes for sale as we move into the end of the year. The Number of Homes for Sale Usually Peaks in the Fall In the residential real estate market, trends generally follow a predictable and seasonal pattern. Typically, the number of homes available for sale (or active monthly listings) peaks in the fall. But in a chapter where so little feels normal, the question becomes: should we expect a fall peak this...

Your Home Equity Is Growing [INFOGRAPHIC]

Written by Longboat Key Mortgage Mortgage Syndicated User on October 22, 2021. Posted in For Sellers, Housing Market Updates, Infographics, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers.

Some Highlights If you’re a homeowner, today’s rising equity is great news. On average, homeowners have gained $51,500 in equity since this time last year. Whether it’s funding an education, fueling your next move, or starting a business, your home equity is a great tool you can use to power your dreams. Ready to sell? Let’s connect to talk about how you can take advantage of your rising equity to reach your goals. Content previously posted on Keeping Current Matters

Important Distinction: Homes Are Less Affordable, Not Unaffordable

Written by Longboat Key Mortgage Mortgage Syndicated User on October 21, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key.

It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been. Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here’s what the report...

What Does the Future Hold for Home Prices?

Written by Longboat Key Mortgage Mortgage Syndicated User on October 19, 2021. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Pricing, Selling Myths.

If you’re looking to buy or sell a house, chances are you’ve heard talk about today’s rising home prices. And while this increase in home values is great news for sellers, you may be wondering what the future holds. Will prices continue to rise with time, or should you expect them to fall? To answer that question, let’s first understand a few terms you may be hearing right now. Appreciation is an increase in the value of an asset. Depreciation is a decrease in the value of an asset. Deceleration is when something happens at a slower pace. It’s important to note home prices have increased,...

Sellers: Your House Could Be an Oasis for Buyers Seeking More Options

Written by Longboat Key Mortgage Mortgage Syndicated User on October 18, 2021. Posted in For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key.

Sellers have a great opportunity this season as buyer demand still heavily outweighs the current supply of homes for sale. According to the National Association of Realtors (NAR), today’s housing inventory sits at only a 2.6-month supply. To put that into perspective, a neutral market typically features a 6-month supply. That places today’s market firmly in the sellers’ market category. That same NAR data also shows today’s inventory of single-family homes is trailing behind the level we saw last year (see graph below):Because of the ongoing supply challenges, buyers can feel like they’re...

What Do Past Years Tell Us About Today’s Real Estate Market?

Written by Longboat Key Mortgage Mortgage Syndicated User on October 14, 2021. Posted in For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Selling Myths.

As you follow the news, you’re likely seeing headlines discussing what’s going on in today’s housing market. Chances are high that some of the more recent storylines you’ve come across mention terms like cooling or slowing when talking about where the market is headed. But what do these terms mean? The housing market today is anything but normal, and it’s still an incredibly strong sellers’ market, especially when compared to the few years leading up to the pandemic. With that in mind, what can previous years tell us about today’s real estate market and if it’s truly slowing? We’re Still Seeing...

Don’t Wait for a Lower Mortgage Rate – It Could Cost You

Written by Longboat Key Mortgage Mortgage Syndicated User on October 12, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers.

Today’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn’t over just yet. If you’re one of the buyers who worry they’ve missed out, rest assured today’s mortgage rates are still worth taking advantage of. Even today, our mortgage rates are below what they’ve been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you’re still in a great position to secure a rate well...

What’s Causing Today’s Competitive Real Estate Market? [INFOGRAPHIC]

Written by Longboat Key Mortgage Mortgage Syndicated User on October 8, 2021. Posted in For Sellers, Housing Market Updates, Infographics, Interest Rates, Longboat Key Mortgage, Millennials, Mortgage Longboat Key, New Construction.

Some Highlights Today’s strong sellers’ market is the direct result of high demand and low supply. Low mortgage rates and generational trends have created an increased demand for homes. Meanwhile, the slower pace of new home construction and homeowners staying in their homes longer have both led to today’s low supply. If you’re thinking of selling, let’s connect to talk about our local area and how you can take advantage of today’s housing market. Content previously posted on Keeping Current Matters

111,285 Reasons You Should Buy a Home This Year

Written by Longboat Key Mortgage Mortgage Syndicated User on October 7, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers, Rent vs. Buy.

The financial benefits of buying a home versus renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner. According to the latest research from the National Association of Realtors (NAR): “Homeownership is a key pathway to building wealth and narrowing the racial income and wealth inequality gap. Housing wealth (equity) accumulation takes time and is built up by price appreciation and paying off the mortgage.” An increase in equity builds the wealth of the individual that owns it. This wealth can be passed down...

What Do Supply and Demand Tell Us About Today’s Housing Market?

Written by Longboat Key Mortgage Mortgage Syndicated User on October 6, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers, Pricing.

There’s a well-known economic theory – the law of supply and demand – that explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is very low, prices can rise significantly. Understanding the impact both supply and demand have can provide the answers to a few popular questions about today’s housing market: Why are prices rising? Where are prices headed? What does this mean for homebuyers? Why Are Prices Rising? According...

Category: Housing Market Updates