Pre-Approval Is the Homebuying Step You Can’t Afford To Skip

Written by Panama City Mortgage Mortgage Syndicated User on March 7, 2025. Posted in Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage.

There’s one essential step in the homebuying process you may not know a whole lot about, and that’s pre-approval. Here’s a rundown on what it is and why it’s so important to take care of before you start looking at homes with your RE/MAX® agent. What Is Pre-Approval?Pre-approval is like getting the green light from a lender. It gives you a sense of how much they’re willing to let you borrow for your home loan. To determine that number, a lender starts by looking at your financial history. Here are some of the documents they may ask you for during this process:W-2s and tax returnsPay stubs...

Why the Average Homeowner Has $319K in Equity

Written by Panama City Mortgage Mortgage Syndicated User on March 7, 2025. Posted in Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage.

If you already own a home, have you ever stopped to think about how much wealth you’ve built up just from being a homeowner? As home values rise, so does your net worth. And, if you’ve been in your house for a few years (or longer), there’s a good chance you’re sitting on a pile of equity — maybe even more than you realize. What Is Home Equity? Home equity is the difference between what your house is worth and what you owe on your mortgage. For example, if your house is worth $500,000 and you still owe $200,000 on your home loan, you have $300,000 in equity. It’s essentially the wealth...

The Latest Expert Forecasts for the 2025 Housing Market

Written by Panama City Mortgage Mortgage Syndicated User on March 7, 2025. Posted in Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage.

After several years of rising home prices and volatile mortgage rates, it looks like the housing market will start to head in a more normal direction in 2025 – at least according to the latest forecasts. And if you’ve been thinking about making a move, that means the uncertainty that could’ve been throwing off your plans may be coming to a close. Here’s a look at the latest expert forecasts on two of the biggest factors expected to shape the market in the year ahead. Will Mortgage Rates Come Down? Everyone’s keeping an eye on mortgage rates, and they’re projected to settle in the mid-6%...

Headed Back Into the Office? You May Decide To Move

Written by Panama City Mortgage Mortgage Syndicated User on March 7, 2025. Posted in Buying Tips, For Buyers, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage.

It’s no secret that remote work has surged over the last few years. And that flexibility gave a lot of people the freedom to move — and work — from wherever they wanted.But now, a growing number of companies are requiring employees to return to the office. And that’s leading some people to make decisions about where they live and if they need to move.How Return-to-Work Policies Are Impacting Housing During the rise of remote work, a lot of employees took the opportunity to move away from expensive or crowded city centers. Some opted for suburban neighborhoods and larger homes with yards,...

Why a Pre-Listing Inspection May Be Worth It in Today’s Market

Written by Panama City Mortgage Mortgage Syndicated User on March 6, 2025. Posted in For Sellers, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage, Selling Tips.

Selling a house comes with a lot of moving pieces, and the last thing you want is a deal falling apart over unexpected repairs uncovered during the buyer’s inspection. That’s why it pays to anticipate potential issues before buyers ever step through the door. And one way to do that is with a pre-listing inspection.What Is a Pre-Listing Inspection? A pre-listing inspection is essentially a professional home inspection you schedule before putting your house on the market. Just like the inspections your buyer will do after making an offer, this process identifies any issues with the condition...

More Buyers Are Making Moves — Is It Time To Sell?

Written by Panama City Mortgage Mortgage Syndicated User on March 5, 2025. Posted in For Sellers, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage, Selling Tips.

More people are taking steps to buy a home. And, if you’ve been waiting for the right time to move, this may be the sign you’ve been looking for.For the past few years, a lot of would-be homebuyers hit pause on their plans. With rising mortgage rates and affordability challenges, buying just didn’t seem doable. But now, more of them are getting back out there. That’s because they’re getting used to the fact that this may be the new normal for the market – especially as forecasts show mortgage rates may be starting to stabilize. According to the National Association of Realtors...

Is a Newly Built Home Right for You? The Pros and Cons

Written by Panama City Mortgage Mortgage Syndicated User on March 4, 2025. Posted in Buying Tips, For Buyers, Market Updates, Mortgage Panama City Beach, New Construction, Panama City Beach Mortgage.

When searching for a home, you don’t want to skip over new builds as an option. Right now, there are more newly built homes to choose from than there would normally be in the market. And those added choices come with some pretty incredible benefits. Talking to your agent is the best way to see if this type of home makes sense for you.Here’s a quick rundown of some things your agent will walk you through – including a few of the top perks of buying a newly built home today and some potential things you’ll want to think about before you ink any contracts.The Perks of Buying a Newly Built...

Is It Better To Rent or Buy a Home Today?

Written by Panama City Mortgage Mortgage Syndicated User on March 1, 2025. Posted in For Buyers, Infographics, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage, Rent vs. Buy.

Some HighlightsA study shows that 70% of prospective buyers fear the long-term consequences of renting. And here’s why.?Rent usually rises over time and that can make it harder to save up to buy a home. But when you buy, you can stabilize your housing expenses and grow your net worth as home values rise. While renting may be the less expensive option in some markets, it can’t match the long-term benefits of homeownership. What’s your #1 reason for wanting to buy?

Do You Know How Much Your Home Is Worth?

Written by Panama City Mortgage Mortgage Syndicated User on February 28, 2025. Posted in For Sellers, Home Prices, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage.

Over the past few years, you’ve probably seen a whole lot of headlines about how home prices keep going up. But have you ever stopped to think about what that actually means for your home?Home prices have risen dramatically over the past five years — far more than usual. And if selling has been on your mind, this could mean a bigger-than-expected payday when you list. So, how much has your home’s value really changed? Let’s break it down.The Rapid Rise of the Past 5 YearsTypically, home prices go up by about 2-5% a year. But in 2021-2022, there were double-digit increases. And at the...

Is an Accessory Dwelling Unit Right for You? Here’s What To Know

Written by Panama City Mortgage Mortgage Syndicated User on February 27, 2025. Posted in Buying Tips, For Buyers, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage.

Are you having a hard time finding the right home in your budget? Or maybe you already own a home but could use some extra income or a designated space for aging loved ones. Either way, accessory dwelling units (ADUs) could be the smart solution you’ve been looking for in today’s market.What Is an ADU?According to Fannie Mae, an ADU is a small, separate living space that’s on the same lot as a single-family home. It must include its own areas for living, sleeping, cooking, and bathrooms independent of the main house. And they can take shape in a few different ways. Fannie Mae adds, an ADU...

Tag: #panamacitybeachmortgage