How Homeownership Impacts You

Written by Hutchinson Island Mortgage Syndicated User on June 3, 2022. Posted in First Time Home Buyers, For Buyers, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Move-Up Buyers, Rent vs. Buy.

June is National Homeownership Month, and it’s the perfect time to reflect on how impactful owning a home can truly be. When you purchase a house, it becomes more than just a space you occupy. It’s your stake in the community, an investment, and a place you can put your stamp on. If you’re thinking about buying a home this year, here are some of the benefits you’ll experience when you do. The Emotional Benefits of Homeownership Because it’s a place that’s uniquely yours, owning a home can give you a sense of pride and happiness in several ways. Your Home Can Reflect Your Tastes and Personality Investopedia...

What Does the Rest of the Year Hold for the Housing Market?

Written by Hutchinson Island Mortgage Syndicated User on June 1, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Interest Rates, Move-Up Buyers.

If you’re thinking of buying or selling a house, you’re at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say. The Number of Homes Available for Sale Is Likely To Grow There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com: “The gap between this year’s homes for sale and last year’s is one-fifth the size...

Bright Days Are Ahead When You Move Up This Summer [INFOGRAPHIC]

Written by Hutchinson Island Mortgage Syndicated User on May 27, 2022. Posted in For Buyers, For Sellers, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Infographics, Move-Up Buyers.

Some Highlights Warmer weather and longer days mean summer is almost here. Celebrate by upgrading to the home of your dreams so you can enjoy all the season has to offer. When you list your house, you can capitalize on today’s sellers’ market to fuel your upgrade. Then, you can move to a home with the features you want, like space to entertain or rooms for work and play. If you’re ready to upgrade to a home that matches your changing needs, let’s connect. Content previously posted on Keeping Current Matters

Sellers Have an Opportunity with Today’s Home Prices

Written by Hutchinson Island Mortgage Syndicated User on May 25, 2022. Posted in For Sellers, Housing Market Updates, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Move-Up Buyers, Pricing.

As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend. According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green: This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand...

Why Rising Mortgage Rates Push Buyers off the Fence

Written by Hutchinson Island Mortgage Syndicated User on May 18, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Interest Rates, Move-Up Buyers.

If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans. Today, buyers are reacting in one of two ways: they’re either making the decision to buy now before rates climb higher or they’re waiting it out in hopes rates will fall. Let’s look at some context that can help you understand why so many buyers are jumping off the fence and into action rather than waiting to buy. A...

Are There More Homes Coming to the Market?

Written by Hutchinson Island Mortgage Syndicated User on May 12, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Move-Up Buyers.

According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today. If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search. Early Signs Inventory May Be Growing The latest data from realtor.com shows the number of listings coming onto the market, known...

Will Home Prices Fall This Year? Here’s What Experts Say.

Written by Hutchinson Island Mortgage Syndicated User on May 11, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Move-Up Buyers, Pricing.

Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals. What’s Happening with Home Prices? Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says: “Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.” So why are prices climbing so much? It’s because there are more buyers than...

How Today’s Mortgage Rates Impact Your Home Purchase

Written by Hutchinson Island Mortgage Syndicated User on May 10, 2022. Posted in First Time Home Buyers, For Buyers, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Interest Rates, Move-Up Buyers, Pricing.

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan. In a rising-rate environment like we’re in today, that could limit your future purchasing power. Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say...

2022 Housing Market Forecast [INFOGRAPHIC]

Written by Hutchinson Island Mortgage Syndicated User on May 7, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Infographics, Interest Rates, Move-Up Buyers, Pricing.

Some Highlights What does the rest of the year hold for the housing market? Here’s what experts have to say about what lies ahead. Home prices are projected to rise and so are mortgage rates. Experts are also forecasting another strong year for home sales as people move to meet their changing needs. Let’s connect so you can make your best move this year. Content previously posted on Keeping Current Matters

Things That Could Help You Win a Bidding War on a Home

Written by Hutchinson Island Mortgage Syndicated User on May 4, 2022. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Move-Up Buyers, Pricing.

With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below): The same report from NAR shows the average buyer made two offers before getting their third offer accepted. In this type of competitive housing market, it’s important to know what levers you can pull to help you beat the competition....

Category: Move-Up Buyers