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Category: Move-Up Buyers

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Finding Your Perfect Home in a Fixer Upper

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers.

If you’re trying to buy a home and are having a hard time finding one you can afford, it may be time to consider a fixer-upper. That’s a house that needs a little elbow grease or some updates, but has good bones. Fixer-uppers can be a really great option if you’re looking to break into the housing market or want to stretch your budget further. According to NerdWallet: “Buying a fixer-upper can provide a path to homeownership for first-time home buyers or a way for repeat buyers to afford a larger home or a better neighborhood. With the relatively low inventory of homes for sale these...

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The Benefits of Downsizing When You Retire

Written by Key Largo Mortgage Syndicated User on . Posted in Demographics, For Buyers, For Sellers, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers.

If you’re taking a look at your expenses as you retire, saving money where you can has a lot of appeal. One long-standing, popular way to do that is by downsizing to a smaller home. When you think about cutting down on your spending, odds are you think of frequent purchases, like groceries and other goods. But when you downsize your house, you often end up downsizing the bills that come with it, like your mortgage payment, energy costs, and maintenance requirements. Realtor.com shares: “A smaller home typically means lower bills and less upkeep. Then there’s the potential windfall that...

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Bridging the Gaps on the Road to Homeownership

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers.

Homeownership is a major part of the American Dream. But, the path to achieving this dream can be quite difficult. While progress has been made to improve fair housing access, households of color still face unique challenges on the road to owning a home. Working with the right real estate experts can make all the difference for diverse buyers. It’s clear that achieving homeownership is more challenging for certain groups because there’s still a measurable gap between the overall average U.S. homeownership rate and that of non-white groups. Today, Black households continue to have the...

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Winning Plays for Buying a Home in Today’s Market [INFOGRAPHIC]

Written by Key Largo Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers.

Some Highlights In today’s housing market, you can still come out on top if you have the right team and plan. To win when buying a home, you need to build your team, make strategic plays, consider what’s in and out of bounds, and stand out from the crowd. Connect with a local real estate agent today to make your winning move.

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Why It’s More Affordable To Buy a Home This Year [INFOGRAPHIC]

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers, Pricing.

Some Highlights Home affordability depends on three factors: mortgage rates, home prices, and wages. Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual. That’s good news if you want to buy a home because it means affordability is getting better.

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The Top Benefits of Buying a Multi-Generational Home

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers.

Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you’re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here’s a look at some of the top reasons why, to see if a home like this may be right for you too. Why Buyers Are Opting for Multi-Generational Living According to the National Association of Realtors (NAR), two of the top reasons buyers are opting for multi-generational homes today have to do with affordability (see graph below): First-time buyers are focused most on...

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Are More Homeowners Selling as Mortgage Rates Come Down?

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, For Buyers, Housing Market Updates, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers.

If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale. The Mortgage Rate Lock-In Effect Over the past year, one factor that’s really limited the options for your move is how few homes were on the market. That’s because many homeowners chose to delay their plans to sell once mortgage rates went up. An article from Freddie Mac explains: “The lack of housing supply was partly driven by the rate lock-in...

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Key Terms Every Homebuyer Should Learn [INFOGRAPHIC]

Written by Key Largo Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers.

Some Highlights Buying a home is a big deal and can feel especially complicated if you don’t know the terms used during the process. If you want to become a homeowner this year, it’s a good idea to learn these key housing terms and understand how they relate to the current housing market. That will help you feel confident when you buy a home.  Connect with a local real estate agent so you can get expert help with any questions you have.

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3 Key Factors Affecting Home Affordability

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers, Pricing.

Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten. But just recently, there’s been a little bit of relief on that front. Mortgage rates have gone down since their most recent peak in October. But there’s more to being able to afford a home than just mortgage rates. To really understand home affordability, you need to look at the combination of three important factors: mortgage rates, home prices, and wages. Let’s dive into the latest data on each one to see why affordability is improving. 1. Mortgage Rates Mortgage rates have come...

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Homeownership Is Still at the Heart of the American Dream

Written by Key Largo Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up Buyers.

Buying a home is a powerful decision, and it remains at the heart of the American Dream. Unlike renting, owning a home means more than just having a place to live – it offers a sense of belonging, stability, and freedom. According to Nicole Bachaud, Senior Economist at Zillow: “The American Dream is still owning a home. There’s a lot of pent-up demand for ownership; that isn’t going to go away.” Let’s explore just a few of the reasons why so many Americans continue to value homeownership.  The Financial Benefits of Owning a Home One possible reason homeownership is viewed so highly is...

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