Why Home Sales Bounce Back After Presidential Elections

Written by Boca Raton Mortgage Syndicated User on October 30, 2024. Posted in Boca Raton Mortgage, Boca Raton Mortgage Rates, Economy, For Buyers, For Sellers, Home Prices.

With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it’s having on the housing market. Let’s break it down.Election Years Bring a Temporary SlowdownIn any given year, home sales slow down slightly in the fall. It’s a typical, seasonal trend. However, according to data from BTIG, in election years there’s usually a slightly larger dip in home sales in the month leading up to Election Day (see graph below):Why? Uncertainty. Many consumers hold off on making major decisions or purchases while they wait to see how the election will play out. It’s a pattern...

Debunking Scary Myths About Buying a Home

Written by Boca Raton Mortgage Syndicated User on October 26, 2024. Posted in Boca Raton Mortgage, Boca Raton Mortgage Rates, For Buyers, Infographics.

Some HighlightsThere are a number of scary myths about homebuying in today’s market. Here’s what you need to know.Prices are not expected to crash, it is possible to buy even with student loan debt, and there are programs that can help you save for a down payment.Don’t let scary myths delay your homebuying plans. Connect with an agent so you have a pro to help you separate the facts from your fears.

What To Expect from Mortgage Rates and Home Prices in 2025

Written by Boca Raton Mortgage Syndicated User on October 22, 2024. Posted in Affordability, Boca Raton Mortgage, Boca Raton Mortgage Rates, For Buyers, For Sellers, Home Prices, Mortgage Rates.

Curious about where the housing market is headed in 2025? The good news is that experts are offering some promising forecasts, especially when it comes to two key factors that directly affect your decisions: mortgage rates and home prices.Whether you’re thinking of buying or selling, here’s a look at what the experts are saying and how it might impact your move.Mortgage Rates Are Forecast To Come Down One of the biggest factors likely affecting your plans is mortgage rates, and the forecast looks positive. After rising dramatically in recent years, experts project rates will ease slightly...

Why Buying Now Is Worth It

Written by Boca Raton Mortgage Syndicated User on October 19, 2024. Posted in Boca Raton Mortgage, Boca Raton Mortgage Rates, Buying Tips, Equity, For Buyers, Forecasts, Infographics.

Some HighlightsYou may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise.Experts forecast prices will climb over the next 5 years – and based on those forecasts, you could gain about $90k in equity in that time.So, you could wait, but you’ll miss out on a lot of equity if you do. If you’re ready and able to buy, let’s connect so you can start growing your wealth now.

Why Did More People Decide To Sell Their Homes Recently?

Written by Boca Raton Mortgage Syndicated User on October 18, 2024. Posted in Boca Raton Mortgage, Boca Raton Mortgage Rates, Buying Tips, For Buyers, Mortgage Rates.

Homeowners typically slow down their moving plans as the summer months wrap up, and as a result, fewer homes are listed for sale in the fall. It’s a predictable, seasonal trend in real estate. But this year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.As the green circle in the graph below shows, the...

The Benefits of Using Your Equity To Make a Bigger Down Payment

Written by Boca Raton Mortgage Syndicated User on October 17, 2024. Posted in Affordability, Boca Raton Mortgage, Boca Raton Mortgage Rates, Equity, For Buyers, Home Prices, Mortgage Rates.

Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has led...

Why an Agent Is Essential When Buying a Newly Built Home

Written by Boca Raton Mortgage Syndicated User on October 16, 2024. Posted in Agent Value, Boca Raton Mortgage, Boca Raton Mortgage Rates, Buying Tips, For Buyers.

For some buyers, there’s a misconception that newly built homes aren’t made to last or fall short of the quality you can find in older homes. Unfortunately, this is turning some buyers away from what may be one of their best options in today’s housing market. As Builder Online says:“As resale inventory remains limited and the price spread between new and resale homes narrows, new homes are increasingly an attractive value proposition for buyers, with incentives such as rate buydowns a way to help address ongoing affordability challenges.”So, is there any merit to the myth? Let’s break down the...

Why a Condo Could Be Your Perfect First Home

Written by Boca Raton Mortgage Syndicated User on October 15, 2024. Posted in Boca Raton Mortgage, Boca Raton Mortgage Rates, For Buyers.

If you’re looking to break into homeownership but the price of single-family homes has you second-guessing, you might want to consider a condominium (condo) or townhome. These types of homes often come with a lower barrier to entry – and that can help you start to build equity and enjoy the benefits of owning a home sooner.Since they’re usually smaller than single-family homes, they can be easier on your wallet. While it’s not always the case, smaller square footage usually comes with a smaller price tag too. As a result, according to the latest data from Realtor.com, condos typically...

Buying Beats Renting in These Top Cities

Written by Boca Raton Mortgage Syndicated User on October 12, 2024. Posted in Boca Raton Mortgage, Boca Raton Mortgage Rates, For Buyers, Infographics, Rent vs. Buy.

Some HighlightsBased on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment.Make sure you work with a pro who can help you crunch the numbers and see how your city stacks up. This may be your opportunity to forget renting for good. If you want to see which option makes the most sense in your area, connect with a local agent.

Home Values Rise Even as Median Prices Fall

Written by Boca Raton Mortgage Syndicated User on October 4, 2024. Posted in Boca Raton Mortgage, Boca Raton Mortgage Rates, For Buyers, For Sellers, Home Prices.

Recent headlines have been buzzing about the median asking price of homes dropping compared to last year, and that’s sparked plenty of confusion. And as a buyer or seller, it’s easy to assume that means prices are coming down. But here’s the catch: those numbers don’t tell the full story.Nationally, home values are actually rising, even if the median price is down a bit. Let’s break down what’s really happening so you can make sense of the market without getting caught up in the fear the headlines create.Homes on the Market Right Now Are SmallerThe biggest reason for the dip in median price...

Category: For Buyers