Homebuyers Are Getting Used to the New Normal

Written by Jupiter Island Mortgage Syndicated User on July 19, 2023. Posted in For Sellers, Housing Market Updates, Interest Rates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, Selling Myths.

Before you decide to sell your house, it’s important to know what you can expect in the current housing market. One positive trend right now is homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal.To better understand what’s been happening with mortgage rates lately, the graph below shows the trend for the 30-year fixed mortgage rate from Freddie Mac since last October. As you can see, rates have been between 6% and 7% pretty consistently for the past nine months:According to Lawrence Yun, Chief Economist at the National Association of Realtors...

Home Prices Are Rebounding

Written by Jupiter Island Mortgage Syndicated User on July 18, 2023. Posted in Buying Myths, For Buyers, For Sellers, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, Pricing, Selling Myths.

If you’re following the news today, you may feel a bit unsure about what’s happening with home prices and fear whether or not the worst is yet to come. That’s because today’s headlines are painting an unnecessarily negative picture. If we take a year-over-year view, home prices did drop some, but that’s because we’re comparing to a ‘unicorn’ year when prices peaked well beyond the norm.To avoid an unfair comparison to that previous peak, we need to look at monthly data. And that tells a very different and much more positive story. While local home price trends still vary by market, here’s...

Low Housing Inventory Is a Sweet Spot for Sellers [INFOGRAPHIC]

Written by Jupiter Island Mortgage Syndicated User on July 15, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, Selling Myths.

Some HighlightsToday’s housing inventory is still well below more normal years.This low inventory is why homes that are priced right are still selling quickly and seeing multiple offers.If you want to sell your house, now is a great time because inventory is still low. Contact a trusted real estate agent to start the process.

How Remote Work Expands Your Homebuying Horizons

Written by Jupiter Island Mortgage Syndicated User on July 14, 2023. Posted in For Buyers, Interest Rates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage.

Even as some companies transition back into the office, remote work remains a popular choice for many professionals. So, if you currently enjoy working from home or hope to be able to soon, you’re not alone. According to a recent survey, most working professionals want to work either fully remote or hybrid (see below):This trend is good news if you’re looking to buy a home because a remote or hybrid work setup can help you overcome some of today’s affordability and housing inventory challenges.More Work Flexibility Equals More Home OptionsRemote or hybrid work opens up a world of...

Renting or Selling Your House: What’s the Best Move?

Written by Jupiter Island Mortgage Syndicated User on July 13, 2023. Posted in For Sellers, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, Selling Myths.

If you’re a homeowner ready to make a move, you may be thinking about using your current house as a short-term rental property instead of selling it. A short-term rental (STR) is typically offered as an alternative to a hotel, and they’re an investment that’s gained popularity in recent years.While a short-term rental can be a tempting idea, you may find the reality of being responsible for one difficult to take on. Here are some of the challenges you could face if you rent out your house instead of selling it.A Short-Term Rental Comes with ResponsibilitiesSuccessfully managing your house...

Momentum Is Building for New Home Construction

Written by Jupiter Island Mortgage Syndicated User on July 12, 2023. Posted in For Buyers, Housing Market Updates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, New Construction.

If you’re in the process of looking for a home today, you know the supply of homes for sale is low because you’re feeling the impact of having a limited pool of options. And, if your biggest hurdle right now is that you’re having trouble finding something you like, don’t forget that a newly built home is a great option.As a recent article from the National Association of Realtors (NAR) says: “Home buyers continue to be met with limited housing options during what’s typically the real estate market’s busiest season. . . . The current supply of existing homes is about half the level it was in...

Reasons Your Home May Not Be Selling

Written by Jupiter Island Mortgage Syndicated User on July 11, 2023. Posted in For Sellers, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, Pricing.

When it comes to selling your house, you want three things: to sell it for the most money you can, to do it in a certain amount of time, and to do all of that with the fewest hassles. And, while the current housing market is generally favorable to sellers due to today’s limited housing supply, there are still factors that can cause delays or even prevent a house from selling.If you’re having trouble getting your house to sell in today’s sellers’ market, here are a few things to think about.Limited Access – If You Can’t Show It, You Can’t Sell It.One of the biggest mistakes you...

The Benefits of Downsizing for Homeowners [INFOGRAPHIC]

Written by Jupiter Island Mortgage Syndicated User on July 8, 2023. Posted in For Buyers, Infographics, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage.

Some HighlightsDownsizing is a popular choice for homeowners when they retire or when their needs change, but with inflation still high, it’s also a way to reduce costs.Downsizing could help cut down on your expenses and your equity can fuel your move.If you’re thinking about moving to a smaller home, connect with a real estate professional to go over your housing goals and look at your options in the local market.

Today’s Housing Inventory Is a Sweet Spot for Sellers

Written by Jupiter Island Mortgage Syndicated User on July 7, 2023. Posted in For Sellers, Housing Market Updates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, Selling Myths.

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.According to a recent report from Realtor.com: “On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”The graph below helps illustrate this point. It uses historical data to provide a more concrete look at how...

Two Questions To Ask Yourself if You’re Considering Buying a Home

Written by Jupiter Island Mortgage Syndicated User on July 6, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, Move-Up Buyers, Pricing.

If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting at the local supermarket, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot. To help cut through the noise and give you the information you need most, take a look at what the data says. Here are the top two questions you need to ask yourself...

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