Remote Work Is Here To Stay. Can Your Home Deliver the Space You Need?

Written by Fort Myers Mortgage Syndicated User on September 21, 2021. Posted in For Buyers, For Sellers, Fort Myers Mortgage, Mortgage Fort Myers, Move-Up Buyers.

A lot has changed over the past year. For many people, the rise in remote work influenced what they’re looking for in a home and created a greater appetite for a dedicated home office. Some professionals took advantage of the situation and purchased a bigger home. Other people thought working from home would be temporary, so they chose to get creative and make the space they already had work for them. But recent headlines indicate working from home isn’t a passing fad. If you’re still longing for a dedicated home office, now may be the time to find the home that addresses your evolving needs....

Is It Time To Move on to a New Home?

Written by Fort Myers Mortgage Syndicated User on September 20, 2021. Posted in For Buyers, For Sellers, Fort Myers Mortgage, Mortgage Fort Myers, Move-Up Buyers.

If you’ve been in your home for longer than five years, you’re not alone. According to recent data from First American, homeowners are staying put much longer than historical averages (see graph below):As the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has more than doubled to over 10 years. The housing industry refers to this as your tenure. To really explore tenure, it’s important to understand what drives people to make a move. An article from The Balance explores some of the primary reasons individuals choose to sell their...

Fact or Fiction: Homebuyer Edition [INFOGRAPHIC]

Written by Fort Myers Mortgage Syndicated User on September 10, 2021. Posted in Fort Myers Mortgage, Mortgage Fort Myers.

Some Highlights When it comes to the current housing market, there are multiple misconceptions – from what the current supply of available homes looks like to how much houses are selling for. It takes professionals who study expert opinions and data to truly understand the real estate market and separate fact from fiction. Trust the pros. If you want to understand why it’s still a good time to buy, let’s connect today. Content previously posted on Keeping Current Matters Keeping Current Matters

Home Price Appreciation Is Skyrocketing in 2021. What About 2022?

Written by Fort Myers Mortgage Syndicated User on September 9, 2021. Posted in Fort Myers Mortgage, Mortgage Fort Myers.

One of the major story lines over the last year is how well the residential real estate market performed. One key metric in the spotlight is home price appreciation. According to the latest indices, home prices are skyrocketing this year. Here are the latest percentages showing the year-over-year increase in home price appreciation: The House Price Index (HPI) from the Federal Housing Finance Agency (FHFA): 18.8% The S. National Home Price Index from S&P Case-Shiller: 18.6% The Home Price Insights Report from CoreLogic: 18% The dramatic increases are seen at every price point and in...

5 Reasons Today’s Housing Market Is Anything but Normal

Written by Fort Myers Mortgage Syndicated User on September 2, 2021. Posted in Fort Myers Mortgage, Mortgage Fort Myers.

There are many headlines out there that claim we’re reverting to a more normal real estate market. That would indicate the housing market is returning to the pre-pandemic numbers we saw from 2015-2019. But that’s not happening. The market is still extremely vibrant as demand is still strong even while housing supply is slowly returning. Here’s the definition of normal from the Merriam-Webster Dictionary: “conforming to a type, standard, or regular pattern: characterized by that which is considered usual, typical, or routine.” Using this definition, here are five housing industry metrics that...

What You Can Do Right Now To Prepare for Homeownership

Written by Fort Myers Mortgage Syndicated User on September 1, 2021. Posted in Fort Myers Mortgage, Mortgage Fort Myers.

As rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from ApartmentList.com: “The first half of 2021 has seen the fastest growth in rent prices since the start of our estimates in 2017. Our national rent index has increased by 11.4 percent since January . . . .” Those rising rental costs may make it seem impossible to prepare for homeownership if you’re a renter. But the truth is, there are ways you can – and should – prepare to purchase your first home. Here’s some expert advice on what to do if you’re...

What Buyers and Sellers Need To Know About the Appraisal Gap

Written by Fort Myers Mortgage Syndicated User on August 31, 2021. Posted in Fort Myers Mortgage, Mortgage Fort Myers.

It’s economy 101 – when supply is low and demand is high, prices naturally rise. That’s what’s happening in today’s housing market. Home prices are appreciating at near-historic rates, and that’s creating some challenges when it comes to home appraisals. In recent months, it’s become increasingly common for an appraisal to come in below the contract price on the house. Shawn Telford, Chief Appraiser for CoreLogic, explains it like this: “Recently, we observed buyers paying prices above listing price and higher than the market data available to appraisers can support. This difference is known...

The Difference in Net Worth Between Homeowners and Renters Is Widening

Written by Fort Myers Mortgage Syndicated User on August 30, 2021. Posted in Fort Myers Mortgage, Mortgage Fort Myers.

Becoming financially secure is an important goal for many people today, but some don’t realize just how much homeownership can help them achieve that dream. A recent report, The Journey Toward Financial Freedom, surveys Americans about their perspective on financial wellness and their goals. It shows there may be a significant misconception about the role owning a home plays in building wealth: “Home ownership is one of the indicators Americans say is least connected to financial health.” Two major personal wealth goals – homeownership and net worth – work hand-in-hand. Below are just...

If Housing Affordability Is About the Money, Don’t Forget This.

Written by Fort Myers Mortgage Syndicated User on August 26, 2021. Posted in Fort Myers Mortgage, Mortgage Fort Myers.

There are many non-financial benefits of buying your own home. However, today’s headlines seem to be focusing primarily on the financial aspects of homeownership – specifically affordability. Many articles are making the claim that it’s not affordable to buy a home in today’s market, but that isn’t the case. Today’s buyers are spending approximately 20% of their income on their monthly mortgage payments. According to The Essential Guide to Creating a Homebuying Budget from Freddie Mac, the 20% of income that purchasers are currently paying is well within the 28% guideline suggested: “Most...

What Do Experts Say About Today’s Mortgage Rates?

Written by Fort Myers Mortgage Syndicated User on August 23, 2021. Posted in Fort Myers Mortgage, Mortgage Fort Myers.

Mortgage rates are hovering near record lows, and that’s good news for today’s homebuyers. The graph below shows mortgage rates dating back to 2016 and where today falls by comparison. Generally speaking, when rates are low, you can afford more home for your money. That’s why experts across the industry agree – today’s low rates present buyers with an incredible opportunity. Here’s what they have to say: Sam Khater, Chief Economist at Freddie Mac, points out the historic nature of today’s rates: “As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants...

Tag: For Buyers