What To Expect from Mortgage Rates and Home Prices in 2025

Written by Panama City Mortgage Mortgage Syndicated User on October 22, 2024. Posted in Affordability, For Buyers, For Sellers, Home Prices, Market Updates, Mortgage Panama City Beach, Mortgage Rates, Panama City Beach Mortgage.

Curious about where the housing market is headed in 2025? The good news is that experts are offering some promising forecasts, especially when it comes to two key factors that directly affect your decisions: mortgage rates and home prices.Whether you’re thinking of buying or selling, here’s a look at what the experts are saying and how it might impact your move.Mortgage Rates Are Forecast To Come Down One of the biggest factors likely affecting your plans is mortgage rates, and the forecast looks positive. After rising dramatically in recent years, experts project rates will ease slightly...

Why Buying Now Is Worth It

Written by Panama City Mortgage Mortgage Syndicated User on October 19, 2024. Posted in Buying Tips, Equity, For Buyers, Forecasts, Infographics, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage.

Some HighlightsYou may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise.Experts forecast prices will climb over the next 5 years – and based on those forecasts, you could gain about $90k in equity in that time.So, you could wait, but you’ll miss out on a lot of equity if you do. If you’re ready and able to buy, let’s connect so you can start growing your wealth now.

Why Did More People Decide To Sell Their Homes Recently?

Written by Panama City Mortgage Mortgage Syndicated User on October 18, 2024. Posted in Buying Tips, For Buyers, Market Updates, Mortgage Panama City Beach, Mortgage Rates, Panama City Beach Mortgage.

Homeowners typically slow down their moving plans as the summer months wrap up, and as a result, fewer homes are listed for sale in the fall. It’s a predictable, seasonal trend in real estate. But this year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.As the green circle in the graph below shows, the...

The Benefits of Using Your Equity To Make a Bigger Down Payment

Written by Panama City Mortgage Mortgage Syndicated User on October 17, 2024. Posted in Affordability, Equity, For Buyers, Home Prices, Market Updates, Mortgage Panama City Beach, Mortgage Rates, Panama City Beach Mortgage.

Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has led...

Why an Agent Is Essential When Buying a Newly Built Home

Written by Panama City Mortgage Mortgage Syndicated User on October 16, 2024. Posted in Agent Value, Buying Tips, For Buyers, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage.

For some buyers, there’s a misconception that newly built homes aren’t made to last or fall short of the quality you can find in older homes. Unfortunately, this is turning some buyers away from what may be one of their best options in today’s housing market. As Builder Online says:“As resale inventory remains limited and the price spread between new and resale homes narrows, new homes are increasingly an attractive value proposition for buyers, with incentives such as rate buydowns a way to help address ongoing affordability challenges.”So, is there any merit to the myth? Let’s break down the...

Why a Condo Could Be Your Perfect First Home

Written by Panama City Mortgage Mortgage Syndicated User on October 15, 2024. Posted in For Buyers, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage.

If you’re looking to break into homeownership but the price of single-family homes has you second-guessing, you might want to consider a condominium (condo) or townhome. These types of homes often come with a lower barrier to entry – and that can help you start to build equity and enjoy the benefits of owning a home sooner.Since they’re usually smaller than single-family homes, they can be easier on your wallet. While it’s not always the case, smaller square footage usually comes with a smaller price tag too. As a result, according to the latest data from Realtor.com, condos typically...

Buying Beats Renting in These Top Cities

Written by Panama City Mortgage Mortgage Syndicated User on October 12, 2024. Posted in For Buyers, Infographics, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage, Rent vs. Buy.

Some HighlightsBased on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment.Make sure you work with a pro who can help you crunch the numbers and see how your city stacks up. This may be your opportunity to forget renting for good. If you want to see which option makes the most sense in your area, connect with a local agent.

How Much Does It Cost To Sell My House?

Written by Panama City Mortgage Mortgage Syndicated User on October 11, 2024. Posted in Agent Value, For Sellers, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage, Selling Tips.

If you’re toying with the idea of selling your house, you’re probably wondering how much it’ll cost. To be honest, the final number will depend on several factors like the offer you accept, if you help with your buyer’s closing costs, how many repairs you tackle, and more.So, to give you a ballpark of what to expect, here’s some information on a few of the expenses you’ll want to be ready for (see graph below):But here’s something that puts those costs into perspective. Most homeowners today have a substantial amount of equity built up in their homes, and that means they stand to make significant...

Two Reasons Why the Housing Market Won’t Crash

Written by Panama City Mortgage Mortgage Syndicated User on October 10, 2024. Posted in Economy, Inventory, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage.

You may have heard chatter recently about the economy and talk about a possible recession. It’s no surprise that kind of noise gets some people worried about a housing market crash. Maybe you’re one of them. But here’s the good news – there’s no need to panic. The housing market is not set up for a crash right now.Real estate journalist Michele Lerner says:“A housing market crash happens when home values plummet due to a lack of demand for homes or an oversupply.”With that definition in mind, here are two reasons why this just isn’t on the horizon.1. Demand for Homes Is Higher than SupplyOne...

Why Now’s Not the Time To Take Your House Off the Market

Written by Panama City Mortgage Mortgage Syndicated User on October 9, 2024. Posted in For Sellers, Market Updates, Mortgage Panama City Beach, Panama City Beach Mortgage, Selling Tips.

Has your house been sitting on the market longer than expected? If so, you’re bound to be frustrated by now. Maybe you’re even thinking it’s time to pull the listing and wait to see what 2025 brings. But what you may not realize is, the decision to hold off could actually cost you. Here’s a look at why staying the course could be the smarter move.Other Sellers Are Pulling Back. Should You Hold Off Too?According to recent data from Altos Research, the number of withdrawals is increasing – that means more sellers are opting to pull their listings off the market right now. And this isn’t unusual...

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