Think Home Prices Are Going To Fall? Think Again

Written by Tampa Bay Mortgage Syndicated User on July 22, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Tampa, Move-Up Buyers, Pricing, Tampa Bay Mortgage, Tampa Mortgage.

Over the last two years, the rate of home prices appreciated at a dramatic pace. While that led to incredible equity gains for homeowners, it’s also caused some buyers to wonder if home prices will fall. It’s important to know the housing market isn’t a bubble about to burst, and home price growth is supported by strong market fundamentals. To understand why price declines are unlikely, it’s important to explore what caused home prices to rise so much recently, and where experts say home prices are headed. Here’s what you need to know. Home Prices Rose Significantly in Recent Years The graph...

Why Pre-Approval Is a Game Changer for Homebuyers

Written by Tampa Bay Mortgage Syndicated User on July 20, 2022. Posted in First Time Home Buyers, For Buyers, Mortgage Tampa, Move-Up Buyers, Tampa Bay Mortgage, Tampa Mortgage.

If you’re planning to buy a home this year, you might have heard that pre-approval is a necessary step to take before starting out on your journey. But why is that? And is it still important in today’s shifting market? The truth is, getting a pre-approval letter from your lender is critical, and when it comes to your home search, it can be a game changer in so many ways. To better understand why, it’s important to know what pre-approval is. Freddie Mac defines the process like this: “A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money...

Wondering Where You’ll Move if You Sell Your House Today?

Written by Tampa Bay Mortgage Syndicated User on July 19, 2022. Posted in For Sellers, Housing Market Updates, Mortgage Tampa, Move-Up Buyers, New Construction, Tampa Bay Mortgage, Tampa Mortgage.

If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. That’s because today’s market is undergoing a shift, and the supply of homes for sale is increasing as a result. That means you may have a better chance of finding a home that will meet your current needs. Here are some options to consider. Buying an Existing Home Can Give You That Lived-in Charm According to the National Association of Realtors (NAR), the supply of existing homes (a home that’s been previously owned) has steadily increased...

Should I Buy a Home Right Now?

Written by Tampa Bay Mortgage Syndicated User on July 14, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Tampa, Move-Up Buyers, Pricing, Tampa Bay Mortgage, Tampa Mortgage.

If you’ve been thinking about buying a home, you likely have one question on the top of your mind: should I buy right now, or should I wait? While no one can answer that question for you, here’s some information that could help you make your decision. The Future of Home Price Appreciation Each quarter, Pulsenomics surveys a national panel of over 100 economists, real estate experts, and investment and market strategists to compile projections for the future of home price appreciation. The output is the Home Price Expectation Survey. In the latest release, it forecasts home prices will continue...

The Drop in Mortgage Rates Brings Good News for Homebuyers

Written by Tampa Bay Mortgage Syndicated User on July 12, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Tampa, Move-Up Buyers, Tampa Bay Mortgage, Tampa Mortgage.

Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this year, homebuyers across the country should see this decline as welcome news. Freddie Mac reports that the average 30-year rate was down to 5.30% from 5.81% two weeks prior (see graph below): But why is this recent dip such good news for homebuyers? As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains: “According...

Why Growing Home Equity Is Great News if You Plan To Move [INFOGRAPHIC]

Written by Tampa Bay Mortgage Syndicated User on July 9, 2022. Posted in For Sellers, Housing Market Updates, Infographics, Mortgage Tampa, Move-Up Buyers, Pricing, Tampa Bay Mortgage, Tampa Mortgage.

Some Highlights According to the latest data from CoreLogic, the average homeowner gained $64,000 in home equity over the past 12 months. That much equity can be a game-changer when you move. When you sell, it could be some (if not all) of what you need for a down payment on your next home. To find out how much equity you have in your home and how you can use it, let’s connect today. Content previously posted on Keeping Current Matters

Category: Move-Up Buyers