Keys to Success for First-Time Homebuyers

Written by Santa Rosa Beach Mortgage Syndicated User on June 1, 2023. Posted in Down Payments, First Time Home Buyers, For Buyers, Mortgage Santa Rosa Beach, Santa Rosa Beach Mortgage.

Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that have made it more challenging in recent years:“Since 2011, the share of first-time home buyers has been under the historical norm of 40% as buyers face tight inventory, rising home prices, rising rents and high student debt loads.”That said, if you’re looking to purchase your first home, here are two things...

Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off

Written by Santa Rosa Beach Mortgage Syndicated User on May 31, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage Santa Rosa Beach, Pricing, Santa Rosa Beach Mortgage.

Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common definition of the word:“Something that is greatly desired but difficult or impossible to find.” The pandemic profoundly changed real estate over the last few years....

Owning a Home Helps Protect Against Inflation

Written by Santa Rosa Beach Mortgage Syndicated User on May 25, 2023. Posted in First Time Home Buyers, For Buyers, Mortgage Santa Rosa Beach, Rent vs. Buy, Santa Rosa Beach Mortgage.

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 monthly...

Why Buying a Vacation Home Beats Renting One This Summer

Written by Santa Rosa Beach Mortgage Syndicated User on May 24, 2023. Posted in For Buyers, Mortgage Santa Rosa Beach, Santa Rosa Beach Mortgage.

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 of Owning...

Why Buyers Need an Expert Agent by Their Side

Written by Santa Rosa Beach Mortgage Syndicated User on May 23, 2023. Posted in First Time Home Buyers, For Buyers, Mortgage Santa Rosa Beach, Move-Up Buyers, Santa Rosa Beach Mortgage.

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 Santa Rosa Beach Mortgage Syndicated User on May 20, 2023. Posted in For Buyers, Infographics, Interest Rates, Mortgage Santa Rosa Beach, Santa Rosa Beach Mortgage.

Some HighlightsIf 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.

What You Need To Know About Home Price News

Written by Santa Rosa Beach Mortgage Syndicated User on May 18, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Mortgage Santa Rosa Beach, Pricing, Santa Rosa Beach Mortgage.

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 values...

The Worst Home Price Declines Are Behind Us

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

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 Santa Rosa Beach Mortgage Syndicated User on May 16, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Mortgage Santa Rosa Beach, Move-Up Buyers, Santa Rosa Beach Mortgage.

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 GoalsThe equity you build up over the years can be used to your advantage when you sell...

The Worst Home Price Declines Are Behind Us [INFOGRAPHIC]

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

Some HighlightsWhile 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: For Buyers