The Top 3 Reasons Affordability Is Improving

Written by Coral Gables Mortgage Syndicated User on October 5, 2024. Posted in Affordability, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, Home Prices, Infographics, Mortgage Rates.

Some HighlightsAffordability is based on three key factors: mortgage rates, home prices, and wages.And today, it’s improving quickly as rates come down, prices level off, and wages climb. If you put your search on pause because it was too expensive to buy, connect with an agent to talk about why now may be the perfect time to jump back in.

Home Values Rise Even as Median Prices Fall

Written by Coral Gables Mortgage Syndicated User on October 4, 2024. Posted in Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers, For Sellers, Home Prices.

Recent headlines have been buzzing about the median asking price of homes dropping compared to last year, and that’s sparked plenty of confusion. And as a buyer or seller, it’s easy to assume that means prices are coming down. But here’s the catch: those numbers don’t tell the full story.Nationally, home values are actually rising, even if the median price is down a bit. Let’s break down what’s really happening so you can make sense of the market without getting caught up in the fear the headlines create.Homes on the Market Right Now Are SmallerThe biggest reason for the dip in median price...

Secrets To Selling Your House Quickly

Written by Coral Gables Mortgage Syndicated User on October 3, 2024. Posted in Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Sellers, Selling Tips.

Seeing your house sit on the market without any bites is the ultimate frustration. And unfortunately, some sellers are in that tricky spot today.According to data from the National Association of Realtors (NAR), the average time a house spends on the market has increased over the past few years (see graph below):A recent post from Realtor.com notes a similar trend:“During the week ending Sept. 14, homes stayed on the market eight days longer compared to last year. With more choices available and mortgage rates expected to fall, buyers are taking their time, which means sellers will need to be...

This Is the Sweet Spot Homebuyers Have Been Waiting For

Written by Coral Gables Mortgage Syndicated User on October 2, 2024. Posted in Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers, Mortgage Rates.

After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move. With rates trending down, today’s market is a sweet spot for buyers—and it’s one that may not last long.So, if you’ve put your own move on the back burner, here’s why maybe you shouldn’t delay your plans any longer.As you weigh your options and decide if you should buy now or wait, ask yourself this: What do you think everyone else is going to do?The truth is, if mortgage rates continue to ease, as experts project, more...

Buying Beats Renting in 22 Major U.S. Cities

Written by Coral Gables Mortgage Syndicated User on October 1, 2024. Posted in Affordability, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers, Home Prices, Inventory, Mortgage Rates.

That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments (see chart below):As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a home than to rent one in many parts of the country.This is a big deal if you’ve been renting for a while now. But if you don’t see your city on this list, don’t sweat it. Things are moving fast, and your area might...

Buy Now, or Wait?

Written by Coral Gables Mortgage Syndicated User on September 28, 2024. Posted in Buying Tips, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers, Infographics, Mortgage Rates.

Some HighlightsIf you’re wondering if you should buy now or wait, here’s what you need to know. If you wait for rates to drop more, you’ll have to deal with more competition and higher prices as additional buyers jump back in. But if you buy now, you’d get ahead of that and have the chance to start building equity.Should you buy now or wait? Connect with a real estate agent and talk through it together, so you can make your best decision.

Don’t Fall for These Real Estate Agent Myths

Written by Coral Gables Mortgage Syndicated User on September 27, 2024. Posted in Agent Value, Buying Tips, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers, For Sellers, Selling Tips.

When it’s time to buy or sell a home, one of the most important decisions you’ll make is who you’ll work with as your agent. That choice will have an impact on your entire experience and how smoothly it goes.As you figure out who you’ll partner with, it’s important to know what to expect and what to look for. Unfortunately, there may be some myths holding you back from making the best decision possible. So, let’s take some time to address those, and make sure you have the information you need to find the right agent for you.Myth #1: All Real Estate Agents Are the SameYou might think all agents...

Why Buying Now May Be Worth It in the Long Run

Written by Coral Gables Mortgage Syndicated User on September 26, 2024. Posted in Buying Tips, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, Equity, First-Time Buyers, For Buyers, Home Prices.

Should you buy a home now or should you wait? That’s a question a lot of people have these days. And while what’s right for you is going to depend on a lot of different factors, here’s something you’ll want to consider as you make your decision.As soon as you buy, you’ll start gaining equity. And you’d be surprised how quickly that can add up – even with more moderate home price appreciation.Each quarter, Fannie Mae releases the Home Price Expectations Survey. It asks over one hundred economists, real estate experts, and investment and market strategists what they forecast for home prices over...

The Down Payment Assistance You Didn’t Know About

Written by Coral Gables Mortgage Syndicated User on September 25, 2024. Posted in Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, First-Time Buyers, For Buyers.

Believe it or not, almost 80% of first-time homebuyers qualify for down payment assistance, but only 13% actually use it. And if you’re hoping to buy a home, this is a mission-critical gap to close – fast (see graph below):Here’s what you need to know to make the most of your down payment in today’s housing market.Amplify Your Down Payment PotentialFor first-time buyers, the name of the game with down payments is making sure you’re taking advantage of all the resources out there designed to help you. And a bunch of them can get you to your goal faster than you may have thought possible. For...

Is Your House Priced Too High?

Written by Coral Gables Mortgage Syndicated User on September 24, 2024. Posted in Agent Value, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Sellers, Selling Tips.

Every seller wants to get their house sold quickly, for as much money as they can, with as few headaches as possible. And chances are, you’re no different.But did you know one of the biggest things that could jeopardize your success is the asking price for your home? Pricing your house correctly is one of the most crucial steps in the selling process.So, how do you know if you’re missing the mark? Here are four signs your high asking price might be turning potential buyers away—and why leaning on your real estate agent is the best way to course correct.1. You’re Not Getting Many Showings or...

Category: Coral Gables Condo Financing