Owning a Home Helps Protect Against Inflation

Written by Longboat Key Mortgage Mortgage Syndicated User on May 24, 2023. Posted in First Time Home Buyers, For Buyers, Longboat Key Mortgage, Mortgage Longboat Key, Rent vs. Buy.

You’re probably feeling the impact of high inflation every day as prices have gone up on groceries, gas, and more. If you’re a renter, you’re likely experiencing it a lot as your rent continues to rise. Between all of those elevated costs and uncertainty about a potential recession, you may be wondering if it still makes sense to buy a home today. The short answer is – it does. Here’s why. Homeownership actually shields you from the rising costs inflation brings. Freddie Mac explains how: “Not only will buying today help you begin to build equity, a fixed-rate mortgage can stabilize your...

Why Buying a Vacation Home Beats Renting One This Summer

Written by Longboat Key Mortgage Mortgage Syndicated User on May 23, 2023. Posted in For Buyers, Longboat Key Mortgage, Mortgage Longboat Key.

For many of us, visiting the same vacation spot every year is a summer tradition that’s fun, relaxing, and restful. If that sounds like you, now’s the time to think about your plans and determine if buying a vacation home this year makes more sense than renting one again. According to Forbes: “. . . if the idea of vacationing at the same place every year makes you feel instantaneously relaxed, buying a vacation home might be a wise move.” To help you decide if making a move like this is right for you, let’s explore why you may want to consider purchasing a vacation home today. Benefits...

Florida Mortgage | Key Considerations When Buying a House in Florida

Written by Longboat Key Mortgage Mortgage Syndicated User on May 23, 2023. Posted in Longboat Key Mortgage, Mortgage Longboat Key.

Why Buyers Need an Expert Agent by Their Side

Written by Longboat Key Mortgage Mortgage Syndicated User on May 22, 2023. Posted in First Time Home Buyers, For Buyers, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers.

The process of buying a home can feel a bit intimidating, even under normal circumstances. But today’s market is still anything but normal. There continues to be a very limited number of homes for sale, and that’s creating bidding wars and driving home prices back up as buyers compete over the available homes. Navigating all of this can be daunting if you’re trying to do it alone. That’s why having a skilled expert to guide you through the homebuying process is essential, especially today. Bankrate shares this perspective: “Advice and guidance from a professional real estate agent...

The Impact of Changing Mortgage Rates [INFOGRAPHIC]

Written by Longboat Key Mortgage Mortgage Syndicated User on May 19, 2023. Posted in For Buyers, Infographics, Interest Rates, Longboat Key Mortgage, Mortgage Longboat Key.

Some Highlights If you’re looking to buy a home, you should know even a small change in mortgage rates has an impact on your purchasing power. These charts show how rates generally affect your monthly payment. The best way to navigate changing mortgage rates and make an informed buying decision is to rely on the expertise of a local real estate professional and mortgage lender.

Powerful Job Market Fuels Homebuyer Demand

Written by Longboat Key Mortgage Mortgage Syndicated User on May 18, 2023. Posted in For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key.

The spring housing market has been surprisingly active this year. Even with affordability challenges and a limited number of homes for sale, buyer demand is strong, and getting stronger. One way we know there are interested buyers right now is because showing traffic is up. Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, makes it clear more people are out looking at homes than there were prior to the pandemic (see graph below): And though there’s less traffic than the buyer frenzy of the past couple of years, we’re not far off that pace....

What You Need To Know About Home Price News

Written by Longboat Key Mortgage Mortgage Syndicated User on May 17, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Pricing.

The National Association of Realtors (NAR) will release its latest Existing Home Sales Report tomorrow. The information it contains on home prices may cause some confusion and could even generate some troubling headlines. This all stems from the fact that NAR will report the median sales price, while other home price indices report repeat sales prices. The vast majority of the repeat sales indices show prices are starting to appreciate again. But the median price reported on Thursday may tell a different story. Here’s why using the median home price as a gauge of what’s happening with home...

The Worst Home Price Declines Are Behind Us

Written by Longboat Key Mortgage Mortgage Syndicated User on May 16, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Pricing.

If you’re following the news today, you may feel a bit unsure about what’s happening with home prices and fear whether or not the worst is yet to come. That’s because today’s headlines are painting an unnecessarily negative picture. Contrary to those headlines, home prices aren’t in a freefall. The latest data tells a very different and much more positive story. Local home price trends still vary by market, but here’s what the national data tells us. If we take a year-over-year view, home prices stayed positive – they just appreciated more slowly than they did at the peak of the pandemic. To...

Homeowners Have Incredible Equity To Leverage Right Now

Written by Longboat Key Mortgage Mortgage Syndicated User on May 15, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Longboat Key Mortgage, Mortgage Longboat Key, Move-Up Buyers.

Even though home prices have moderated over the last year, many homeowners still have an incredible amount of equity. But what is equity? In the simplest terms, equity is the difference between the market value of your home and the amount you owe on your mortgage. The National Association of Realtors (NAR) explains how your equity grows over time: “Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.” How Your Equity Can Help You Achieve Your Goals The equity you build up over the years can be used to your advantage when you...

The Worst Home Price Declines Are Behind Us [INFOGRAPHIC]

Written by Longboat Key Mortgage Mortgage Syndicated User on May 13, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Longboat Key Mortgage, Mortgage Longboat Key, Pricing.

Some Highlights While home prices vary by local area, they’ve already hit their low point nationally, and now they’re starting to rise again. Last July, prices started to decline, but around February, they began climbing back up. If you put your plans to move on hold waiting to see what would happen with home prices, reach out to a local real estate expert to discuss if now’s the right time to jump back in.

Category: Mortgage Longboat Key