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Author: Key West Mortgage Syndicated User

2024 Housing Market Forecast [INFOGRAPHIC]

Written by Key West Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Key West Florida News, Key West News, Pricing.

Some HighlightsThinking of buying or selling a house and wondering what the new year holds for the housing market? Experts forecast home prices to end this year up 2.8% and to rise another 1.5% in 2024. And climbing prices help make homeownership a good investment.Plus, home sales are projected to increase in 2024. That’s good news because it means experts are forecasting more activity as people continue to move.If you’re planning to buy or sell, it’s helpful to know what experts project for the housing market. Connect with a local real estate agent to talk about the latest forecasts...

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What Are Accessory Dwelling Units and How Can They Benefit You?

Written by Key West Mortgage Syndicated User on . Posted in Demographics, For Sellers, Key West Florida News, Key West News.

Maybe you’re in the market for a home and are having a hard time finding the right one that fits your budget. Or perhaps you’re already a homeowner in need of extra income or a place for loved ones. Whether as a potential homebuyer or a homeowner with changing needs, accessory dwelling units, or ADUs for short, may be able to help you reach your goals.What Is an ADU?As AARP says:“An ADU is a small residence that shares a single-family lot with a larger, primary dwelling.”“An ADU is an independent, self-contained living space with a kitchen or kitchenette, bathroom and sleeping area.” “An...

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Foreclosures and Bankruptcies Won’t Crash the Housing Market

Written by Key West Mortgage Syndicated User on . Posted in Foreclosures, Housing Market Updates, Key West Florida News, Key West News.

If you’ve been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies. That could be making you feel uneasy, especially if you’re thinking about buying or selling a house.But the truth is, even though the numbers are going up, the data shows the housing market isn’t headed for a crisis.Foreclosure Activity Rising, but Less Than Headlines SuggestIn recent years, the number of foreclosures has been very low. That’s because, in 2020 and 2021, the forbearance program and other relief options were put in place to help many...

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A Real Estate Agent Helps Take the Fear Out of the Market

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Key West Florida News, Key West News, Selling Myths.

Do negative headlines and talk on social media have you feeling worried about the housing market? Maybe you’ve even seen or heard something lately that scares you and makes you wonder if you should still buy or sell a home right now. Regrettably, when news in the media isn’t easy to understand, it can make people feel scared and unsure. Similarly, negative talk on social media spreads fast and creates fear. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says:“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by...

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Unmasking Scary Myths about Today’s Housing Market [INFOGRAPHIC]

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Key West Florida News, Key West News, Move-Up Buyers.

Some HighlightsHere’s what you really need to know about a few myths causing fear in today’s housing market.Despite common misconceptions, many people can buy a home even if they have student loans, home prices are rising nationally (not falling), and you usually don’t have to have 20% for a down payment.If you have other fears or reservations about buying a home today, get in touch with a real estate expert who can help clear those up.

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Affordable Homeownership Strategies for Gen Z

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Key West Florida News, Key West News, Move-Up Buyers, Pricing.

The idea of owning a home has always been a big part of the American Dream. It’s a symbol of stability, independence, and having a place to truly call your own. But for Gen Z, the “Zoomers” born between 1997 and 2012, making that dream a reality can feel like quite the challenge today with higher mortgage rates and rising home prices.But achieving that goal of owning your first home can still be attainable, even today, with some strategic planning and resourcefulness.Explore Down Payment Assistance Options With prices rising all around you, it can be hard to save up for a...

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Invest in Yourself by Owning a Home

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Key West Florida News, Key West News, Move-Up Buyers, Pricing.

Are you wondering if it makes sense to buy a home right now? While today’s mortgage rates might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a homeowner.Home Values Appreciate over TimeThere’s been a lot of confusion around what’s happened with home prices over the past two years. While they did dip ever so slightly in late 2022, this year they’ve been appreciating at a more normal pace, which is good news for the housing market. And while looking at price movement over just a year or two can make you worry prices are usually this...

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The Perks of Selling Your House When Inventory Is Low

Written by Key West Mortgage Syndicated User on . Posted in Featured, For Sellers, Housing Market Updates, Key West Florida News, Key West News, Selling Myths.

When it comes to selling your house, you’re probably trying to juggle the current market conditions and your own needs as you plan your move. One thing that may be working in your favor is how few homes there are for sale right now. Here’s what you need to know about the current inventory situation and what it means for you.The Supply of Homes for Sale Is Far Below the NormWhen you’re selling something, it helps if what you’re selling is in demand, but is also in low supply. Why? That makes it even more desirable since there’s not enough to go around. That’s exactly what’s happening in the...

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Why Home Prices Keep Going Up

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Key West Florida News, Key West News, Pricing, Selling Myths.

If you’ve ever dreamed of buying your own place, or selling your current house to upgrade, you’re no stranger to the rollercoaster of emotions changing home prices can stir up. It’s a tale of financial goals, doubts, and a dash of anxiety that many have been through.But if you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it’s just the opposite. National data from several sources says they’ve been going up consistently this year (see graph below): Here’s what this graph shows. In the first half of...

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Home Price Growth Is Returning to Normal [INFOGRAPHIC]

Written by Key West Mortgage Syndicated User on . Posted in Housing Market Updates, Infographics, Key West Florida News, Key West News, Pricing.

Some HighlightsIf you’re wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year.  Based on typical seasonality in the market, prices go up most in the spring during the peak buying season, and then price growth slows down as the year goes on.Home prices aren’t falling. They’re just rising slower and going back to normal seasonal trends. That’s a good thing. If you’re curious about prices in your area, reach out to a real estate agent for answers.

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