Investors Are Not Buying Up All the Homes

Written by Coral Gables Mortgage Syndicated User on November 30, 2024. Posted in Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, Economy, For Buyers, Infographics.

Some HighlightsThere’s a misconception Wall Street is buying all the homes on the market. But data proves that isn’t true.?Experts agree the share of homes bought by investors is declining – and most are smaller investors, like your neighbor who owns a second home, not Wall Street.No matter what you’ve heard, the majority of homes are still being purchased by everyday homebuyers like you – not big investors. Connect with an agent if you have questions.?

How Co-Buying a Home Helps with Affordability Today

Written by Coral Gables Mortgage Syndicated User on November 27, 2024. Posted in Buying Tips, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers.

Buying a home in today’s market can feel like an uphill battle – especially with home prices and mortgage rates putting pressure on your budget. If you’re feeling stuck, co-buying could be one way to help you get your foot in the door. Freddie Mac says:“If you are an aspiring homeowner, buying a home with your family or friends could be an option.”But there are some things you’ll want to consider first. Let’s explore why co-buying is gaining popularity right now among some buyers and see if it may make sense for you too.What Is Co-Buying?Co-buying means buying a home with someone like...

Don’t Miss Out on the Growing Number of Down Payment Assistance Programs

Written by Coral Gables Mortgage Syndicated User on November 22, 2024. Posted in Agent Value, Buying Tips, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers.

With rising home prices and volatile mortgage rates, it’s important you know about every resource that could help make buying a home possible. And one thing you’ll want to be aware of is just how much the number of down payment assistance (DPA) programs has grown lately. Take a look at the graph below to see how many new programs have been added in the last year, according to data from Down Payment Resource:More Programs, More Opportunities for YouSo, what does this increase mean for you? With more programs available, there’s a higher likelihood that one of them could help you reach your homeownership...

Is Wall Street Really Buying All the Homes?

Written by Coral Gables Mortgage Syndicated User on November 20, 2024. Posted in Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, Economy, For Buyers.

Let’s be real – buying a home right now is tough. You’re scrolling through listings, rushing to open houses, and maybe even losing out to more competitive offers. Somewhere along the way, you might’ve heard the reason it’s so hard to find a home is because big Wall Street investors are swooping in and snatching up everything in sight.But here’s the thing: that’s mostly a myth. While investors are part of the market, according to Redfin, they’re a relatively small part:Here’s what that means. Five out of every six homes are being purchased by everyday homebuyers like you – not big investors.So,...

More Homes, Slower Price Growth – What It Means for You as a Buyer

Written by Coral Gables Mortgage Syndicated User on November 14, 2024. Posted in Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers, Home Prices, Inventory.

There are more homes on the market right now than there have been in years – and that could be a game changer for you if you’re ready to buy. Let’s look at two reasons why.You Have More Options To Choose FromAn article from Realtor.com helps explain just how much the number of homes for sale has gone up this year:“There were 29.2% more homes actively for sale on a typical day in October compared with the same time in 2023, marking the twelfth consecutive month of annual inventory growth and the highest count since December 2019.”And while the number of homes on the market still isn’t quite back...

The Majority of Veterans Are Unaware of a Key VA Loan Benefit

Written by Coral Gables Mortgage Syndicated User on November 12, 2024. Posted in Buying Tips, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers.

For over 79 years, Veterans Affairs (VA) home loans have helped countless Veterans achieve the dream of homeownership. But according to Veterans United, only 3 in 10 Veterans realize they may be able to buy a home without needing a down payment (see visual below):That’s why it’s so important for Veterans – and anyone who cares about a Veteran – to be aware of this valuable program. Knowing about the resources available can make the path to homeownership easier and keep life-changing plans from being put on hold. As Veterans United explains:“The ability to buy with 0% down is the signature advantage...

Renting vs. Buying: The Net Worth Gap You Need To See

Written by Coral Gables Mortgage Syndicated User on November 8, 2024. Posted in Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers, Rent vs. Buy.

Trying to decide between renting or buying a home? One key factor that could help you choose is just how much homeownership can grow your net worth.Every three years, the Federal Reserve Board shares a report called the Survey of Consumer Finances (SCF). It shows how much wealth homeowners and renters have – and the difference is significant.On average, a homeowner’s net worth is nearly 40 times higher than a renter’s. Check out the graph below to see the difference for yourself:Why Homeowner Wealth Is So HighIn the previous version of that report, the average homeowner’s net worth was about...

Is a Fixer Upper Right for You?

Written by Coral Gables Mortgage Syndicated User on November 5, 2024. Posted in Affordability, Buying Tips, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers.

Looking to buy a home but feeling like almost everything is out of reach? Here’s the thing. There’s still a way to become a homeowner, even when affordability seems like a huge roadblock – and it might be with a fixer upper. Let’s dive into why buying a fixer upper could be your ticket to homeownership and how you can make it work.What Is a Fixer Upper?A fixer upper is a home that’s in livable condition but needs some work. The amount of work varies by home – some may need cosmetic updates like wallpaper removal and new flooring, while others might require more extensive repairs like replacing...

How Real Estate Agents Take the Fear Out of Moving

Written by Coral Gables Mortgage Syndicated User on November 1, 2024. Posted in Agent Value, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers, For Sellers.

Feeling a bit unsure, or even afraid, to move with everything going on right now? The decision to move shouldn’t be scary, it should be exciting. And the best way to eliminate any fear is to work with a pro. Real estate agents are so much more than just transaction facilitators; they’re trusted guides to help you navigate the complexities of the housing market with confidence and ease. And a great agent can turn what may feel like a daunting process into a manageable—and even enjoyable—experience.That’s why, in a Bright MLS survey, respondents agreed partnering with an agent is essential and...

Avoid These Top Homebuyer Mistakes in Today’s Market

Written by Coral Gables Mortgage Syndicated User on October 31, 2024. Posted in Agent Value, Coral Gables Condo Financing, Coral Gables Mortgage, Coral Gables Mortgage Rates, For Buyers.

No one likes making mistakes, especially when they happen in what’s likely the biggest transaction of your life – buying a home.That’s why partnering with a trusted agent is so important. Here’s a sneak peek at the most common missteps buyers are making in today’s market and how a great agent will help you steer clear of each one.Trying To Time the MarketMany buyers are trying to time the market by waiting for home prices or mortgage rates to drop. This can be a really risky strategy because there’s so much at play that can have an impact on those things. As Elijah de la Campa, Senior Economist...

Category: For Buyers