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Category: Senior Market

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Selling a Luxury House? Here’s Why Now Is a Good Time

Written by Key Largo Mortgage Syndicated User on . Posted in Downsize, For Sellers, Home Prices, Key Largo Mortgage, Key Largo Mortgage Rates, Luxury / Vacation, Selling Tips, Senior Market.

If you own a luxury house, you’re in a stronger spot than most sellers right now. While much of the market has cooled, the high-end tier hasn’t. Sale prices and buyer demand are both up. So if you’re considering selling, now could be a great time to make your move. Luxury Is Leading on Price Let’s start with prices. But before we get into it – what actually counts as a luxury home? Generally, these are homes in the top 5% price range for the area, so it varies depending on where you live. But what’s interesting is that according to the latest data from Redfin, sale prices...

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When Buying a Home Feels Out of Reach, Some Families Do This Instead

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Buying Tips, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Senior Market.

For a lot of people, the math on buying a home just doesn’t really work right now. Maybe that’s how it feels for you too. You look at the cost of buying. Then you look at the cost of childcare. And it starts to feel like you have to choose one or the other. But some families are finding a way to make both work by doing something a little different: teaming up to purchase a multi-generational home. One Reason This Is Becoming More Common It’s no secret that affordability has been a challenge in recent years. But for families with young kids, there’s an added layer that can make it feel even...

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The Hidden Advantage Repeat Buyers Have Right Now

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

What if you didn’t have a mortgage payment on your next house? It may sound a little unrealistic. But for a number of homeowners, it’s actually doable. Nearly 3 in 10 homes purchased today are bought in cash, according to the National Association of Realtors (NAR). That’s far more than the pre-pandemic norm (see graph below): So, how are so many buyers pulling that off? The answer is simple: home equity. Back in 2020-2021, mortgage rates and the number of homes for sale were both at all-time lows. And that combination pushed home prices up, fast. If you owned a home during that time, it...

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How Your Equity Could Help Younger Generations Buy a Home

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

For a lot of parents or grandparents, watching a family member struggle to buy their first home right now is hard. That’s because you saw firsthand how homeownership gave your life more stability and helped grow your net worth – and you want your loved ones to have those same opportunities. But with all the affordability challenges in recent years, that can feel like an uphill battle – even though it’s slowly improving lately. Here’s what you may not realize. You may be in a unique position to help (thanks to the equity in your current house). The Equity Advantage You May Not Be...

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Why So Many Homeowners Are Downsizing Right Now

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

For a growing number of homeowners, retirement isn’t some distant idea anymore. It’s starting to feel very real. According to Realtor.com and the Census, nearly 12,000 people will turn 65 every day for the next two years. And the latest data shows as many as 15% of those older Americans are planning to retire in 2026. And another 23% will do the same in 2027. If you’re considering retiring soon too, here’s what you should be thinking about. Why Downsize? Now’s the perfect time to reflect on what you want your life to look like in retirement. Because even though your finances will be...

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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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