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Why Buyers Are More Likely To Get Concessions Right Now

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

Especially in areas where inventory is rising, both homebuilders and sellers are sweetening the deal for buyers with things like paid closing costs, mortgage rate buy-downs, and more. In the industry, it’s called a concession or an incentive. What Are Concessions and Incentives? When a seller or builder gives you something extra to help with your purchase, that’s called either a concession or an incentive.  A concession is something a seller gives up or agrees to in order to reach a compromise and close a deal.  An incentive, on the other hand, is a benefit a builder or seller advertises...

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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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Why You’ll Want a Home Inspection

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

Some Highlights Once your offer is accepted, an inspector will assess the condition of the house, including things like the roof, foundation, plumbing, and more. That information is incredibly important and paves the way for you to re-negotiate with the seller, as needed. So, you don’t want to skip this step. An inspection is your chance to avoid costly headaches and get peace of mind. Connect with an agent to talk about other ways to make your offer stand out.

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Housing Market Forecasts for the Second Half of the Year

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

From rising home prices to mortgage rate swings, the housing market has left a lot of people wondering what’s next – and whether now is really the right time to move. There is one place you can turn to for answers you want the most. And that’s the experts. Leading housing experts are starting to release their projections for the rest of the year. These insights will give you clarity – and a little more optimism than you might expect. Business Insider sums up the forecasts (and why they’re good news for you): “As mortgage rates go down this year, affordability may improve slightly for...

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Why Some Homes Sell Faster Than Others

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

As you think ahead to your own move, you may have noticed some houses sell within days, while others linger. But why is that? As Redfin says: “. . . today’s housing market has been topsy-turvy since the pandemic. Low inventory (though rising) and high prices have created a strange mix: Some homes are flying off the market, while others sit for weeks.” That may leave you wondering what you should expect when you sell. Let’s break it down and give you some actionable tips on how to make sure your house is one that sells quickly. Homes Are Still Selling Faster Than Pre-Pandemic The first...

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Stocks May Be Volatile, but Home Values Aren’t

Written by Key Largo Mortgage Syndicated User on . Posted in Economy, Home Prices, Key Largo Mortgage, Key Largo Mortgage Rates.

With all the uncertainty in the economy, the stock market has been bouncing around more than usual. And if you’ve been watching your 401(k) or investments lately, chances are you’ve felt that pit in your stomach. One day it’s up. The next day, it’s not. And that may make you feel a little worried about your finances. But here’s the thing you need to remember if you’re a homeowner. According to Investopedia: “Traditionally, stocks have been far more volatile than real estate. That’s not to say that real estate prices aren’t ever volatile—the years around the 2007 to 2008...

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The 20% Down Payment Myth, Debunked

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.

Saving up to buy a home can feel a little intimidating, especially right now. And for many first-time buyers, the idea that you have to put 20% down can feel like a major roadblock. But that’s actually a common misconception. Here’s the truth. Do You Really Have To Put 20% Down When You Buy a Home? Unless your specific loan type or lender requires it, odds are you won’t have to put 20% down. There are loan options out there designed to help first-time buyers like you get in the door with a much smaller down payment. For example, FHA loans offer down payments as low as 3.5%, while VA and...

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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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What an Economic Slowdown Could Mean for the Housing Market

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

Talk about the economy is all over the news, and the odds of a recession are rising this year. That’s leaving a lot of people wondering what it means for the value of their home – and their buying power. Let’s take a look at some historical data to show what’s happened in the housing market during each recession, going all the way back to the 1980s. The facts may surprise you. A Recession Doesn’t Mean Home Prices Will Fall Many people think that if a recession hits, home prices will fall like they did in 2008. But that was an exception, not the rule. It was the only time the market saw...

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A Tale of Two Housing Markets

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

For a long time, the housing market was all sunshine for sellers. Homes were flying off the shelves, and buyers had to compete like crazy. But lately, things are starting to shift. Some areas are still super competitive for buyers, while others are seeing more homes sit on the market, giving buyers a bit more breathing room. In other words, it’s a tale of two markets, and knowing which one you’re in makes a huge difference when you move. What Is a Buyer’s Market vs. a Seller’s Market? In a buyer’s market, there are a lot of homes for sale, and not as many people buying. With fewer buyers...

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