Do Elections Impact the Housing Market?

Written by Sunny Isles Beach Mortgage Syndicated User on June 18, 2024. Posted in For Buyers, For Sellers, Mortgage Sunny Isles Beach, Sunny Isles Beach Beach Mortgage.

The 2024 Presidential election is just months away. As someone who’s thinking about potentially buying or selling a home, you’re probably curious about what effect, if any, elections have on the housing market.It’s a great question because buying or selling a home is a major decision, and it’s natural to wonder how such a major event might impact your plans.Historically, Presidential elections have only had a small, temporary impact on the housing market. Here’s the latest on exactly what’s happened to home sales, prices, and mortgage rates throughout those time periods.Home SalesDuring the...

Real Estate Is Still the Best Long-Term Investment [INFOGRAPHIC]

Written by Sunny Isles Beach Mortgage Syndicated User on June 15, 2024. Posted in Equity, For Buyers, Infographics, Mortgage Sunny Isles Beach, Rent vs. Buy, Sunny Isles Beach Beach Mortgage.

Some HighlightsAccording to a recent poll from Gallup, real estate has been voted the best long-term investment for twelve straight years.That’s because a home is so much more just than a roof over your head. It’s also an asset that typically grows in value over time. If you’ve been debating if it makes more sense to rent or buy, connect with a real estate agent to talk about why homeownership can be a better bet in the long run.

Homebuilders Aren’t Overbuilding, They’re Catching Up

Written by Sunny Isles Beach Mortgage Syndicated User on June 14, 2024. Posted in For Buyers, Inventory, Mortgage Sunny Isles Beach, Sunny Isles Beach Beach Mortgage.

You may have heard that there are more brand-new homes available right now than the norm. Today, about one in three homes on the market are newly built. And if you’re wondering what that means for the housing market and for your own move, here’s what you need to know.Why This Isn’t Like 2008People remember what happened to the housing market back in 2008. And one of the factors that contributed to that crash was that there were too many homes for sale. While only part of the oversupply back then came from builders, the lasting impact is that some people still feel uneasy when they hear new home...

Home Prices Aren’t Declining, But Headlines Might Make You Think They Are

Written by Sunny Isles Beach Mortgage Syndicated User on June 13, 2024. Posted in For Buyers, For Sellers, Home Prices, Mortgage Sunny Isles Beach, Sunny Isles Beach Beach Mortgage.

If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify. Here’s what’s really happening with prices.The bottom line is home prices are higher than they were a year ago at this time, and they’re expected to keep rising, just at a slower pace.But a recent article from Redfin notes,“Price Drops Hit Highest Level in 18 Months As High Rates Dampen Buyer Demand.” And that might make you think prices are declining.Now, while it’s true the latest report from Realtor.com also shows 16.6% of homes on the market had price...

Savings Strategies Every First-Time Homebuyer Needs To Know

Written by Sunny Isles Beach Mortgage Syndicated User on June 12, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Mortgage Sunny Isles Beach, Sunny Isles Beach Beach Mortgage.

If homeownership is on your goal sheet for your future, you’re probably working on your savings. And a big priority is making sure you’ve got a plan in place for things like your closing costs, down payment, and more. Here are a few strategies that can help speed up that process. Budget and Track Your Expenses: To start, create a detailed budget that tracks the money you’ve got coming in and the money going out. This’ll give you a better look at your finances as a whole. Cut Down on Unnecessary Spending: Now that you have your budget sheet done and you know how you’re spending your money, look...

Selling Smart: Why a Real Estate Agent Makes All the Difference

Written by Sunny Isles Beach Mortgage Syndicated User on June 11, 2024. Posted in For Sale by Owner, For Sellers, Mortgage Sunny Isles Beach, Selling Tips, Sunny Isles Beach Beach Mortgage.

If you’re considering selling your house on your own as a “For Sale by Owner” (FSBO), you want to think about if it’s really worth the extra stress. Going this route means shouldering a lot of responsibilities by yourself – and, if you’re not an expert, that opens the door for mistakes to happen and can quickly become overwhelming.A report from the National Association of Realtors (NAR) shows two key areas where people who sold their own house struggled the most: pricing and paperwork.Here are just a few of the ways an agent makes those tasks a whole lot easier.Getting the Price RightSetting...

The Wealth-Building Power of Homeownership [INFOGRAPHIC]

Written by Sunny Isles Beach Mortgage Syndicated User on June 8, 2024. Posted in Equity, First-Time Buyers, For Buyers, Infographics, Mortgage Sunny Isles Beach, Sunny Isles Beach Beach Mortgage.

Some HighlightsIf you’re trying to decide if buying a home is worth it, consider the long-term benefits, like building equity as home values grow over time.According to the FHFA, home values have increased by 315.7% since 1991.Home equity is one reason owning your own place can really pay off in the long run. When you’re ready, talk with a local real estate professional.

Your Equity Could Make a Move Possible

Written by Sunny Isles Beach Mortgage Syndicated User on June 7, 2024. Posted in Equity, For Sellers, Mortgage Sunny Isles Beach, Selling Tips, Sunny Isles Beach Beach Mortgage.

Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now. Today’s mortgage rates are higher than the one they currently have on their home, and that’s making it harder to want to sell and make a move. Maybe you’re in the same boat.But what if there was a way to offset these higher borrowing costs? There is. And the money you need probably already exists in your current home in the form of equity. What Is Equity?Think of equity as a simple math equation. Freddie Mac explains:“. . . your home’s equity is the difference between how much your home is worth...

The Sweet Spot for Buying Luxury Homes

Written by Sunny Isles Beach Mortgage Syndicated User on June 6, 2024. Posted in For Buyers, Inventory, Mortgage Sunny Isles Beach, Move-Up, Sunny Isles Beach Beach Mortgage.

If you’ve been looking for a home at the high end of your market, but haven’t found the right one, you may have put your search on hold. But according to recent data, now may be the time to jump back in. Here’s why. There Are More Luxury Homes To Choose FromWhat’s considered the top-end of the market, or a luxury home, will always vary by location. But generally speaking, they’re homes that are valued in the top 5% of any given market. According to a recent report from the Institute for Luxury Home Marketing, the selection of luxury homes is increasing (see graph below):As the graph shows, there...

What To Expect if You Buy or Sell a Home This June

Written by Sunny Isles Beach Mortgage Syndicated User on June 5, 2024. Posted in For Buyers, For Sellers, Mortgage Sunny Isles Beach, Sunny Isles Beach Beach Mortgage.

June is a busy month in the housing market because a lot of people buy and sell this time of year. So, if you’ve got a move on your mind and you’re looking to make it happen this month, here’s a snapshot of what you need to know to make sure you’re ready.If You’re Buying This JuneA lot of homebuyers with children like to move after one school year ends and before the next one begins. That’s one reason why late spring into summer is a popular time for homes to change hands. And whether that’s a motivator for you or not, it’s important to realize more buyers are going to be looking right now –...

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