What To Know About Closing Costs

Written by Fort Walton Beach Mortgage Syndicated User on September 12, 2024. Posted in Buying Tips, For Buyers, Fort Walton Beach Mortgage, Mortgage Fort Walton Beach.

Now that you’ve decided to buy a home and are ready to make it happen, it’s a good idea to plan ahead for the costs that are a typical part of the homebuying process. And while your down payment is probably the number one expense on your mind, don’t forget about closing costs. Here’s what you need to know.What Are Closing Costs?Simply put, your closing costs are the additional fees and payments you have to make at closing. And while they’ll vary based on the price of the home and how it’s being financed, every buyer has these, so they shouldn’t be a surprise. It’s just that some people...

The Real Story Behind What’s Happening with Home Prices

Written by Fort Walton Beach Mortgage Syndicated User on September 11, 2024. Posted in For Buyers, For Sellers, Fort Walton Beach Mortgage, Home Prices, Mortgage Fort Walton Beach.

If you’re wondering what’s going on with home prices lately, you’re definitely not the only one. With so much information out there, it can be hard to figure out your next move.As a buyer, you might be worried about paying more than you should. And if you’re thinking of selling, you might be concerned about not getting the price you’re aiming for. So, here’s a quick breakdown to help clear things up and show you what’s really happening with prices—whether you’re thinking about buying or selling. Home Price Growth Is Slowing, but Prices Aren’t Falling NationallyThroughout...

Why Pre-Approval Should Be at the Top of Your Homebuying To-Do List

Written by Fort Walton Beach Mortgage Syndicated User on September 10, 2024. Posted in Affordability, Buying Tips, For Buyers, Fort Walton Beach Mortgage, Mortgage Fort Walton Beach, Mortgage Rates.

Since the supply of homes for sale is growing and mortgage rates are coming down, you may be thinking it’s finally your moment to jump into the market. To make sure you’re ready, you need to get pre-approved for a mortgage. That’s when a lender looks at your finances, including things like your W-2, tax returns, credit score, and bank statements, to figure out what they’re willing to loan you. After that process, you’ll get a pre-approval letter to show what you can borrow. Here are two reasons why this is essential in today’s market.Pre-Approval Helps You Know Your NumbersWhile home affordability is...

The Surprising Amount of Home Equity You’ve Gained over the Years

Written by Fort Walton Beach Mortgage Syndicated User on September 9, 2024. Posted in For Sellers, Fort Walton Beach Mortgage, Home Prices, Inventory, Mortgage Fort Walton Beach.

There are a number of reasons you may be thinking about selling your house. And as you weigh your options, you may find you’re unsure how you’re going to deal with one thing about today’s housing market – and that’s affordability. If that’s your biggest concern, understanding how much equity you have in your house could help make your decision that much easier. Here are two key factors that have a big impact on your equity.How Long You’ve Been in Your HomeFirst up is homeowner tenure. That’s how long homeowners live in a house, on average, before selling or choosing to move. From 1985 to 2009,...

Early Forecasts for the 2025 Housing Market Infographic

Written by Fort Walton Beach Mortgage Syndicated User on September 6, 2024. Posted in Fort Walton Beach Mortgage, Infographics, Mortgage Fort Walton Beach.

Some HighlightsThinking about making a move in 2025 and wondering what you can expect? Here’s what expert forecasts say lies ahead.Mortgage rates will come down slightly. More homes will sell. And prices will rise more moderately. Connect with a local agent to discuss what these forecasts mean for your move and what to expect from your local market in 2025.

The Latest on the Luxury Home Market

Written by Fort Walton Beach Mortgage Syndicated User on September 5, 2024. Posted in Buying Tips, For Buyers, Fort Walton Beach Mortgage, Luxury / Vacation, Mortgage Fort Walton Beach.

Luxury living is about more than just stunning views and cutting-edge smart home technology—it’s about elevating your lifestyle. And if you’re in the market for a million-dollar home, now is an excellent time to explore the thriving luxury market. Here’s why.The Number of Luxury Homes Is GrowingThe top of the market, or luxury homes, can mean different things depending on where you live. But in general, these are homes that are in the top 5% price range in any area. According to a recent report from Redfin, the average value of those homes has risen to over one million dollars:“The...

How the Federal Reserve’s Next Move Could Impact the Housing Market

Written by Fort Walton Beach Mortgage Syndicated User on September 4, 2024. Posted in Agent Value, Fort Walton Beach Mortgage, Mortgage Fort Walton Beach, Mortgage Rates.

Now that it’s September, all eyes are on the Federal Reserve (the Fed). The overwhelming expectation is that they’ll cut the Federal Funds Rate at their upcoming meeting, driven primarily by recent signs that inflation is cooling, and the job market is slowing down. Mark Zandi, Chief Economist at Moody’s Analytics, said:“They’re ready to cut, just as long as we don’t get an inflation surprise between now and September, which we won’t.”But what does this mean for the housing market, and more importantly, for you as a potential homebuyer or seller?Why a Federal Funds Rate Cut MattersThe Federal...

Should You Sell Now? The Lifestyle Factors That Could Tip the Scale

Written by Fort Walton Beach Mortgage Syndicated User on September 3, 2024. Posted in For Sellers, Fort Walton Beach Mortgage, Mortgage Fort Walton Beach, Selling Tips.

Are you on the fence about whether to sell your house now or hold off? It’s a common dilemma, but here’s a key point to consider: your lifestyle might be the biggest factor in your decision. While financial aspects are important, sometimes the personal motivations for moving are reason enough to make the leap sooner rather than later.An annual report from the National Association of Realtors (NAR) offers insight into why homeowners like you chose to sell. All of the top reasons are related to life changes. As the graph below highlights:As the visual shows, the biggest motivators were the desire...

Could a 55+ Community Be Right for You?

Written by Fort Walton Beach Mortgage Syndicated User on September 2, 2024. Posted in Buying Tips, For Buyers, Fort Walton Beach Mortgage, Mortgage Fort Walton Beach.

If you’re thinking about downsizing, you may be hearing about 55+ communities and wondering if they’d be a good fit for you. Here’s some information that could help you make your decision.What Is a 55+ Community?It’s important to note that these communities aren’t just for people who need extra support – they can be pretty vibrant, too. Many people who are downsizing opt for this type of home because they’re looking to be surrounded by people in a similar season of life. U.S. News explains:“The terms ‘55-plus community,’ ‘active adult community,’ ‘lifestyle communities’ and ‘planned communities’...

How To Avoid Today’s Top Seller Mistakes

Written by Fort Walton Beach Mortgage Syndicated User on August 30, 2024. Posted in For Sellers, Fort Walton Beach Mortgage, Infographics, Mortgage Fort Walton Beach, Selling Tips.

Some HighlightsWant to know some of the top mistakes sellers are making today and how to make sure they don’t happen to you too?The biggest missteps are pricing a house too high, skipping repairs, not being objective, and not being willing to negotiate.And the best way to avoid falling into any of these traps is to partner with a real estate agent and lean on them for advice.

Category: Fort Walton Beach Mortgage