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Category: Equity

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Downsizing Without Debt: How More Homeowners Are Buying Their Next House in Cash

Written by Key Largo Mortgage Syndicated User on . Posted in Downsize, Equity, For Sellers, Key Largo Mortgage, Key Largo Mortgage Rates, Selling Tips.

If you’ve been thinking about downsizing to lower your expenses, be closer to family, or just make life easier, here’s a trend worth paying attention to: More homeowners are buying their next house outright, without taking on a new mortgage. And, if you’ve owned your home for a while, you may be able to do the same. No mortgage. No monthly housing payments. A Record Share of Homeowners Are Mortgage-Free According to analysis from ResiClub of Census data, more than 40% of U.S. owner-occupied homes are mortgage-free – an all-time high for this data series. That means 4 in 10 homeowners...

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Do You Know How Much Your House Is Really Worth?

Written by Key Largo Mortgage Syndicated User on . Posted in Equity, For Sellers, Key Largo Mortgage, Key Largo Mortgage Rates, Selling Tips.

Want to know something important you probably don’t have a professional check for you nearly as often as you should? Spoiler alert: it’s the value of your home. Because here’s the reality. Your house is likely the biggest financial asset you have. And if you’ve lived in it for a few years or more, chances are it’s been quietly building wealth for you in the background – even if you haven’t been keeping tabs on it. You might be surprised by just how much it’s grown, even as the market has shifted over the past few months. What Is Home Equity? That hidden wealth in your home is called...

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Selling and Buying at the Same Time? Here’s What You Need To Know

Written by Key Largo Mortgage Syndicated User on . Posted in Equity, For Buyers, For Sellers, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

If you’re a homeowner planning to move, you’re probably wondering what the process is going to look like and what you should tackle first: Is it better to start by finding your next home? Or should you sell your current house before you go out looking? Ultimately, what’s right for you depends on a lot of factors. And that’s where an agent’s experience can really help make your next step clear. They know your local market, the latest trends, and what’s working for other homeowners right now. And they’ll be able to make a recommendation based on their expertise and your...

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You May Have Enough Equity To Downsize and Buy Your Next House in Cash

Written by Key Largo Mortgage Syndicated User on . Posted in Downsize, Equity, For Sellers, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Senior Market.

Some Highlights Have you been holding off on downsizing? If so, you should know your equity could make your move possible. Homeowners today have so much equity that a record number are buying their next house in all cash. And that has some big benefits like making their offer more appealing, potentially closing faster, and not having a mortgage payment. To find out how much equity you have in your current house, connect with a local agent. Because it may be enough to fuel your move.

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You Could Use Some of Your Equity To Give Your Children the Gift of Home

Written by Key Largo Mortgage Syndicated User on . Posted in Equity, For Sellers, Key Largo Mortgage, Key Largo Mortgage Rates.

If you’re a homeowner, chances are you’ve built up a lot of wealth – just by living in your house and watching its value grow over time. And that equity? It’s something that could help change your child’s life. Since affordability is still a challenge, a lot of first-time buyers are struggling to buy a home in today’s market. Even if they have a stable job and a solid plan, buying can still feel out of reach. But that’s where your equity could make all the difference. To give you an idea, the average homeowner with a mortgage has $311,000 worth of equity, according to Cotality (formerly...

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Home Projects That Boost Value

Written by Key Largo Mortgage Syndicated User on . Posted in Equity, For Sellers, Key Largo Mortgage, Key Largo Mortgage Rates, Selling Tips.

Whether you’re planning to move soon or not, it’s smart to be strategic about which home projects you take on. Your time, energy, and money matter – and not all upgrades offer the payoff you might expect. As U.S. News Real Estate explains: “. . . not every home renovation project will increase the resale value of a home. Before you invest in a swimming pool or new addition, you should consider whether the project will pay itself off by getting prospective buyers in the door when it’s time to sell.“ That’s why, before you pick up a power tool or call a contractor, your first...

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Your Home Equity Could Make Moving Possible

Written by Key Largo Mortgage Syndicated User on . Posted in Equity, For Sellers, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Selling Tips.

Some Highlights Thanks to recent home price appreciation, homeowners have near record amounts of equity – and you may too. On average, homeowners have $311K worth of equity. Once you sell, you can use it to fund your down payment on your next home or maybe even to buy a smaller house in cash.  If you want to find out how much equity you have, connect with an agent. Because it may make a move a lot more feasible than you’d think.?

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Should I Buy a Home Now or Wait?

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Tips, Equity, For Buyers, Home Prices, Key Largo Mortgage, Key Largo Mortgage Rates.

At some point, you’ve probably heard the saying: “Yesterday was the best time to buy a home, but the next best time is today.” That’s because homeownership is about the long game – and home prices typically rise over time. So, while you may be holding out for prices to fall or rates to improve, you should know that trying to time the market rarely works. Here’s what most buyers don’t always think about: the longer you wait, the more buying could cost you. And you deserve to understand why. Forecasts Say Prices Will Keep Climbing Each quarter, over 100 housing market experts weigh in for...

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Do You Know What Your House Is Really Worth?

Written by Key Largo Mortgage Syndicated User on . Posted in Equity, For Sellers, Home Prices, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates.

Some Highlights Over the past 5 years, home prices have risen dramatically. If you own a home, that means your house may be worth a lot more than you think. ? Nationally, prices are up nearly 60% since 2019. ?And, if selling has been on your mind, you can use that bigger-than-expected return to power your next move. If you want to know how much your home is worth in today’s market, reach out to a local agent.? The number may surprise you.

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Time in the Market Beats Trying To Time the Market

Written by Key Largo Mortgage Syndicated User on . Posted in Equity, Forecasts, Home Prices, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates.

Some Highlights Are you torn between whether to buy a home now or wait? Consider this. Forecasts show prices will climb for ?at least the next 5 years. If you wait, the price of a home will be higher later on. But, if you buy a $400K now, you could gain roughly $83K in equity as prices rise. If you’re able to buy now, this equity is one reason why it’ll be worth it in the long run. Connect with an agent if you’re ready to talk through ways we can make it happen.

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