Category: For Buyers

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Gen Z: The Next Generation Is Making Moves in the Housing Market

Written by Pembroke Pines Mortgage Syndicated User on August 29, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Generation Z (Gen Z) is eager to put down their own roots and achieve financial independence. As a result, they’re turning to homeownership. According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), 30% of Gen Z buyers transitioned straight from living under their parents’ roofs to owning their own homes.If you’re a member of this generation, and you’re interested in pursuing your own dream of homeownership, here’s some information you may find helpful on why and where your peers are buying.The Reasons Gen Z Want To...

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Why You Need a True Expert in Today’s Housing Market

Written by Pembroke Pines Mortgage Syndicated User on August 24, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Selling Myths.

The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side. Whether you’re buying your first home or selling once again, it’s mission critical to work with an expert who can guide you through each unique step of the process. The reality is, not all agents operate the same way. To truly make a powerful and confident decision as you buy or sell a home, you need a real estate expert who uses their knowledge of what’s really happening with home prices, housing supply,...

Why You Don’t Need To Fear the Return of Adjustable-Rate Mortgages

Written by Pembroke Pines Mortgage Syndicated User on August 23, 2023. Posted in Buying Myths, For Buyers, Interest Rates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

If you remember the housing crash back in 2008, you may recall just how popular adjustable-rate mortgages (ARMs) were back then. And after years of being virtually nonexistent, more people are once again using ARMs when buying a home. Let’s break down why that’s happening and why this isn’t cause for concern.Why ARMs Have Gained Popularity More RecentlyThis graph uses data from the Mortgage Bankers Association (MBA) to show how the percentage of adjustable-rate mortgages has increased over the past few years:As the graph conveys, after hovering around 3% of all mortgages in 2021, many more...

Why Median Home Sales Price Is Confusing Right Now

Written by Pembroke Pines Mortgage Syndicated User on August 22, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing, Selling Myths.

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded.So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the...

People Want Less Expensive Homes – And Builders Are Responding

Written by Pembroke Pines Mortgage Syndicated User on August 18, 2023. Posted in For Buyers, Housing Market Updates, Interest Rates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

In today’s housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low inventory. To overcome those challenges, many people are working with their agents to find less expensive homes. And with newly built homes making up a historically large percentage of the total available inventory today, that search often includes brand new homes.People Are Spending Less on Newly Built HomesThe graph below uses the latest information from the Census to show, in June, more of...

Don’t Expect a Flood of Foreclosures

Written by Pembroke Pines Mortgage Syndicated User on August 17, 2023. Posted in Buying Myths, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Selling Myths.

The rising cost of just about everything from groceries to gas right now is leading to speculation that more people won’t be able to afford their mortgage payments. And that’s creating concern that a lot of foreclosures are on the horizon. While it’s true that foreclosure filings have gone up a bit compared to last year, experts say a flood of foreclosures isn’t coming.Take it from Bill McBride of Calculated Risk. McBride is an expert on the housing market, and after closely following the data and market environment leading up to the crash, he was able to see the foreclosures coming in...

Where Are People Moving Today and Why?

Written by Pembroke Pines Mortgage Syndicated User on August 15, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Plenty of people are still moving these days. And if you’re thinking of making a move yourself, you may be considering the inventory and affordability challenges in the housing market and wondering what you can do to help offset those. A new report from Gravy Analytics provides insight into where people are searching for homes and what they’re prioritizing most right now. That information could help you plan your own move.1. People Are Moving to Cities with Lower Housing CostsOne big factor motivating where buyers are going is affordability and that’s no big surprise. People are relocating...

Home Prices Are Back on the Rise [INFOGRAPHIC]

Written by Pembroke Pines Mortgage Syndicated User on August 12, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

Some HighlightsLooking at monthly home price data from six expert sources shows the worst home price declines are behind us, and they’re rising again nationally.If you’ve put your plans to move on pause because you were worried about home prices crashing, this rebound is good news.Connect with a local real estate agent so you know what’s happening with prices in your area.

The Value of an Agent When Buying Your New Construction Home

Written by Pembroke Pines Mortgage Syndicated User on August 10, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Buying a new construction home can be an exciting experience. From being the very first owner, to customizing your home’s features, there are a lot of benefits. But navigating the complexities of buying a home that’s under construction can also be a bit overwhelming. This is where a skilled real estate agent can make all the difference.An article from The Mortgage Reports sums it up like this:“Your Realtor or real estate agent will be key to helping you navigate this process. . . . they can guide you through construction and help anticipate and solve for any possible snags along the...

Four Ways You Can Use Your Home Equity

Written by Pembroke Pines Mortgage Syndicated User on August 8, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Foreclosures, Move-Up Buyers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the ‘unicorn’ years, you’ve likely gained more than you think.According to the latest Equity Insights Report from CoreLogic, the average homeowner has more than $274,000 in equity right now. That much equity can help you achieve certain goals. In a recent article, Bankrate elaborates: “While the pandemic created serious challenges, the silver lining for anyone who owned a home...