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Category: For Buyers

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Why Buyers and Sellers Face Very Different Conditions Today

Written by Key West Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Home Prices, Inventory, Key West Florida News, Key West News.

There’s a new divide in housing right now. In some states, buyers are gaining ground. In others, sellers still have the upper hand. It all depends on where you live. Curious what’s happening in your state?These 3 maps show how the split is playing out across the country. In each one:Darker Shades of Blue = Buyer friendlyLighter Shades of Blue = Seller strongInventory Sets the StageWhile the number of homes for sale has improved pretty much across the board, how much growth we’ve seen can look dramatically different based on where you live. And that impacts who has the leverage...

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3 Reasons Affordability Is Showing Signs of Improvement This Fall

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Buying Tips, For Buyers, Home Prices, Key West Florida News, Key West News, Mortgage Rates.

For the past couple of years, it’s been tough for a lot of homebuyers to make the numbers work. Home prices shot up. Mortgage rates too. And a number of people hit pause because it just didn’t feel possible. Maybe you were one of them.But there’s some encouraging news. If you’ve been waiting for a better time to jump back in, affordability may finally be showing signs of improvement this fall.The latest data from Redfin shows the typical monthly mortgage payment has been coming down, and is now about $290 lower than it was just a few months ago (see graph below):And here’s why this is...

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What a Fed Rate Cut Could Mean for Mortgage Rates

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Economy, For Buyers, Key West Florida News, Key West News, Mortgage Rates.

The Federal Reserve (the Fed) meets this week, and expectations are high that they’ll cut the Federal Funds Rate. But does that mean mortgage rates will drop? Let’s clear up the confusion.The Fed Doesn’t Directly Set Mortgage RatesRight now, all eyes are on the Fed. Most economists expect they’ll cut the Federal Funds Rate at their mid-September meeting to try to head off a potential recession.According to the CME FedWatch Tool, markets are already betting on it. There’s virtually a 100% chance of a September cut. And based on what we know now, there’s about a 92% chance it’ll be a...

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Mortgage Rates Just Saw Their Biggest Drop in a Year

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Economy, First-Time Buyers, For Buyers, Key West Florida News, Key West News, Mortgage Rates.

You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way.On Friday, September 5th, the average 30-year fixed mortgage rate fell to the lowest level since October 2024. It was the biggest one-day decline in over a year.What Sparked the Drop?According to Mortgage News Daily, this was a reaction to the August jobs report, which came out weaker-than-expected for a second month in a row. That sent signals across the financial markets, and then mortgage rates came down as a result.Basically, we’re seeing signs the economy...

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What Everyone’s Getting Wrong About the Rise in New Home Inventory

Written by Key West Mortgage Syndicated User on . Posted in For Buyers, Key West Florida News, Key West News, New Construction.

You may have seen talk online that new home inventory is at its highest level since the crash. And if you lived through the crash back in 2008, seeing new construction is up again may feel a little scary.But here’s what you need to remember: a lot of what you see online is designed to get clicks. So, you may not be getting the full story. A closer look at the data and a little expert insight can change your perspective completely.Why This Isn’t Like 2008While it’s true the number of new homes on the market hit its highest level since the crash, that’s not a reason to worry. That’s because...

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Should You Still Expect a Bidding War?

Written by Key West Mortgage Syndicated User on . Posted in First-Time Buyers, For Buyers, Key West Florida News, Key West News.

If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go.While multiple-offer situations haven’t disappeared entirely, they’re not nearly as common as they used to be. In fact, a recent survey shows agents reported only 1 in 5 homes (20%) nationally received multiple offers in June 2025.That’s down from nearly 1 in 3 (31%) just a year ago – and dramatically lower than in June 2023 (39%) (see graph below):This trend means you should face less competition when you buy. That gives you more time to make decisions and the...

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From Frenzy to Breathing Room: Buyers Finally Have Time Again

Written by Key West Mortgage Syndicated User on . Posted in Buying Tips, First-Time Buyers, For Buyers, Key West Florida News, Key West News.

If you tried to buy a home a few years ago, you probably still remember the frenzy. Homes were listed one day and gone the next. Sometimes it only took hours. You had to drop everything to go and see the house, and if you hesitated even slightly, someone else swooped in and bought it – sometimes even sight unseen.That kind of intensity pushed a lot of buyers to the sidelines. It was stressful, chaotic, and for many, really discouraging.But here’s what you need to know: those days are behind us.Today’s market is moving slower, in the best possible way. And that’s creating more opportunity...

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Condos Could Be a Win for Today’s Buyers

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Buying Tips, Downsize, First-Time Buyers, For Buyers, Home Prices, Inventory, Key West Florida News, Key West News.

Not every homebuyer wants the biggest house on the block. Some want something simpler, more affordable, and easier to maintain, especially in a market where every dollar counts. That’s where condos come in.For first-time buyers, they can be a smart way to get into homeownership without stretching your budget. For downsizers, they offer less space to maintain with the flexibility to stay in a great location.And right now, condos are one of the most buyer-friendly parts of the market.Condo Inventory Is Up, And That Means More ChoiceAccording to the National Association of Realtors (NAR),...

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Is It Better To Buy Now or Wait for Lower Mortgage Rates? Here’s the Tradeoff

Written by Key West Mortgage Syndicated User on . Posted in For Buyers, Key West Florida News, Key West News, Mortgage Rates.

Mortgage rates are still a hot topic – and for good reason. After the most recent jobs report came out weaker than expected, the bond market reacted almost instantly. And, as a result, in early August mortgage rates dropped to their lowest point so far this year (6.55%).While that may not sound like a big deal, pretty much every buyer has been waiting for rates to fall. And even a seemingly small drop like this reignites the hope we’re finally going to see rates trending down. But what’s realistic to expect?According to the latest forecasts, rates aren’t expected to fall dramatically...

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Are These Myths About Buying a Newly Built Home Holding You Back?

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Agent Value, For Buyers, Key West Florida News, Key West News, New Construction.

If you’ve been skipping over newly built homes in your search, you might be doing so based on outdated assumptions. Let’s clear up a few of the most common myths, so you don’t miss out on a solid opportunity.Myth 1: New Homes Are More ExpensiveIt’s easy to assume a new build will cost more than an existing home, but that’s not necessarily true, especially right now.Data from Census and the National Association of Realtors (NAR) shows the median price of a newly built home today is actually lower than a home that’s been lived in already (an existing home):So, why’s this happening? As Heather...

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