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Tag: #keylargo

Condos Could Be a Win for Today’s Buyers

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Buying Tips, Downsize, First-Time Buyers, For Buyers, Home Prices, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

Not every homebuyer wants the biggest house on the block. Some want something simpler, more affordable, and easier to maintain, especially in a market where every dollar counts. That’s where condos come in. For first-time buyers, they can be a smart way to get into homeownership without stretching your budget. For downsizers, they offer less space to maintain with the flexibility to stay in a great location. And right now, condos are one of the most buyer-friendly parts of the market. Condo Inventory Is Up, And That Means More Choice According to the National Association of Realtors...

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More Contracts Are Falling Through. Here’s How To Get Ahead.

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

When you sell a house, the last thing you want is for the deal to fall apart right before closing. But according to the latest data from Redfin, that’s happening a bit more often lately. The good news is, it’s completely avoidable if you lean on an agent for insight into why that is and how to avoid it happening to you. This June, 15% of pending home sales fell through. That means those buyers backed out of their contracts. That’s not too much higher than the norm of roughly 12% from 2017-2019, but it’s still an increase. And it’s one you don’t want to have to deal with.  The key to...

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Is It Better To Buy Now or Wait for Lower Mortgage Rates? Here’s the Tradeoff

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

Mortgage rates are still a hot topic – and for good reason. After the most recent jobs report came out weaker than expected, the bond market reacted almost instantly. And, as a result, in early August mortgage rates dropped to their lowest point so far this year (6.55%). While that may not sound like a big deal, pretty much every buyer has been waiting for rates to fall. And even a seemingly small drop like this reignites the hope we’re finally going to see rates trending down. But what’s realistic to expect? According to the latest forecasts, rates aren’t expected to fall dramatically...

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Are These Myths About Buying a Newly Built Home Holding You Back?

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Agent Value, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, New Construction.

If you’ve been skipping over newly built homes in your search, you might be doing so based on outdated assumptions. Let’s clear up a few of the most common myths, so you don’t miss out on a solid opportunity. Myth 1: New Homes Are More Expensive It’s easy to assume a new build will cost more than an existing home, but that’s not necessarily true, especially right now. Data from Census and the National Association of Realtors (NAR) shows the median price of a newly built home today is actually lower than a home that’s been lived in already (an existing home): So, why’s this happening? As...

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What You Need To Know About Concessions

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

Some Highlights Now that there are more homes for sale, buyers have more options. And sellers need to be more flexible to close the deal. That’s why almost half of homeowners are making some type of concession. This can include covering closing costs, paying for repairs, or dropping the price. Not sure which concessions to offer? Connect with a local agent so you know what’s working for sellers in your market.

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Online Home-Buying Search Terms Recently Hit 2-Year High

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

Believe it or not, there are clear signs buyer interest is heating up again. Let’s talk about what’s really going on behind the scenes, and why the housing market might not be as quiet out there as it seems.  Buyers Are Looking, and Search Trends Prove It One of the clearest ways to measure what people are thinking about is to look at what they’re searching for online. And according to Google Trends, searches for phrases like “home for sale” have been climbing steadily this year. The graph below shows an index of two common homebuyer search phrases and how popular they were on Google over...

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Why Selling Without an Agent Can Cost You More Than You Think

Written by Key Largo Mortgage Syndicated User on . Posted in Agent Value, For Sale by Owner, For Sellers, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates, Selling Tips.

Cutting out the agent might seem like a smart way to save when you sell your house. But here’s the hard truth. Last year, homes that sold with an agent went for almost 15% more than those that sold without one. That gap is pretty hard to ignore. And with more homes on the market to compete with right now, selling on your own is a mistake that’s going to cost you. This Isn’t the Market for DIY Selling A few years ago, you might’ve gotten away with a “For Sale By Owner” (FSBO) sign in your yard, navigating the process on your own. That’s because homes were flying off the market and buyers...

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A Second Home Might Be the Missing Piece in Your Retirement Plan

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

Are you wondering if you’re on track to retire someday? According to Intuit, 69% of people say today’s financial environment makes it tough to plan for the future, and 68% aren’t sure they’ll ever be able to retire. That’s why many people are exploring new ways to build stability and long-term income. And that’s where real estate comes in. Why Real Estate? Here’s What It Can Do for You If you’re able to make the numbers work, buying a second home can be a powerful tool for your future retirement. It could help you: Build wealth over time: As home prices rise through the years, your second...

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3 Advantages of Buying a Newly Built Home Today

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Buying Tips, For Buyers, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Mortgage Rates, New Construction.

Some Highlights Prices, rates, and finding the right home are three of the biggest challenges for buyers today. You may find better luck with all 3 if you look at newly built homes. There are more available. Builders are more flexible on prices right now. And people who buy new homes tend to get lower rates in this market thanks to the incentives builders can offer. Connect with an agent if you want to see the new builds available in and around your area.

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The Truth About Down Payments (It’s Not What You Think)

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Buying Tips, First-Time Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy.

Buying a home is exciting… until you start thinking about the down payment. That’s when the worry can set in. “I’ll never save enough.” “I need a small fortune just to get started.” “I guess I’ll just rent forever.” Sound familiar? You’re not alone. And you’re definitely not out of luck. Here’s the thing: a lot of what you’ve heard about down payments just isn’t true. And once you know the facts, you might realize you’re a lot closer to owning a home than you think. Let’s break it all down and bust some big down payment myths while we’re at it. Myth 1: “I need to come up with a big down...

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