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Category: Housing Market Updates

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How Homeownership Can Help Shield You from Inflation

Written by Palm Bay FL Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates, Pricing.

If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile. If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should continue down that path or if it makes more sense to wait. While the answer depends on your situation, here’s how homeownership can help you combat...

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Is It Enough To Offer Asking Price in Today’s Housing Market?

Written by Palm Bay FL Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer’s bid and the home’s initial asking price. In today’s real estate market, buyers shouldn’t shop for a home with the same expectations. Things Are Different Today Today’s housing market is anything but normal. According...

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On the Fence of Whether or Not To Move This Spring? Consider This.

Written by Palm Bay FL Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

If you’re thinking of selling your house, it may be because you’ve heard prices are rising, listings are going fast, and sellers are getting multiple offers on their homes. But why are conditions so good for sellers today? And what can you expect when you move? To help answer both of those questions, let’s turn to the data. Today, there are far more buyers looking for homes than sellers listing their houses. Here are the maps of the latest buyer and seller traffic from the National Association of Realtors (NAR) to help paint the picture of what this looks like: Notice how much darker the blues...

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How To Approach Rising Mortgage Rates as a Buyer

Written by Palm Bay FL Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead. If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. How Rising Mortgage Rates Impact You Mortgage rates play a significant...

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Why This Housing Market Is Not a Bubble Ready To Pop

Written by Palm Bay FL Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates, Pricing.

Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream. Prior to the 1950s, less than half of the country owned their own home. However, after World War II, many returning veterans used the benefits afforded by the GI Bill to purchase a home. Since then, the percentage of homeowners throughout the country has increased to the current rate of 65.5%. That strong desire for homeownership has kept home values appreciating ever since. The...

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