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Category: For Buyers

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More Homes for Sale Isn’t a Warning Sign – It’s Your Buying Opportunity

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

Maybe you’ve heard the number of homes for sale has reached a recent high. And it might make you question if this is the start of another housing market crash.But the reality is, the data proves that’s just not the case. In most areas, more inventory isn’t bad news. It’s actually a sign of the market returning to a more stable, healthy place.What’s Going on With Inventory?Based on the latest data from Realtor.com, inventory just hit its highest point since 2020, shown with the white line in the graph below.But what you need to realize is, at the same time, inventory levels still haven’t...

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What Buyers Need To Know About Homeowners Association Fees

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

When buying a home, you’re probably thinking about mortgage rates, home prices, your down payment, and maybe even your closing costs. But you may not be thinking about homeowners association (HOA) fees. While you won’t necessarily have these, you should know it’s a possibility, depending on where you decide to live.A homeowners association is basically an organization that oversees a housing community (including shared spaces) and sets and enforces rules for things like upkeep. Some buyers love the perks that come with an HOA, others may see the fees as an extra expense. The key is knowing...

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What an Economic Slowdown Could Mean for the Housing Market

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

Talk about the economy is all over the news, and the odds of a recession are rising this year. That’s leaving a lot of people wondering what it means for the value of their home – and their buying power.Let’s take a look at some historical data to show what’s happened in the housing market during each recession, going all the way back to the 1980s. The facts may surprise you.A Recession Doesn’t Mean Home Prices Will FallMany people think that if a recession hits, home prices will fall like they did in 2008. But that was an exception, not the rule. It was the only time the market saw such a...

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A Tale of Two Housing Markets

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

For a long time, the housing market was all sunshine for sellers. Homes were flying off the shelves, and buyers had to compete like crazy. But lately, things are starting to shift. Some areas are still super competitive for buyers, while others are seeing more homes sit on the market, giving buyers a bit more breathing room.In other words, it’s a tale of two markets, and knowing which one you’re in makes a huge difference when you move.What Is a Buyer’s Market vs. a Seller’s Market?In a buyer’s market, there are a lot of homes for sale, and not as many people buying. With fewer buyers...

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Paused Your Moving Plans? Here’s Why It’s Time To Hit Play Again

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

It’s not really a surprise that 70% of buyers paused their home search last year. Maybe you were one of them. And if so, no judgment. Conditions just weren’t great.Inventory was too low, prices were too high, and mortgage rates were bouncing all over. That made it really hard to find a home you loved – and could afford. And why sell if you’re not sure where you’re going to go? But here’s the thing: the market’s shifting. And it might be time to hit play again.The Inventory Sweet SpotMore homeowners are jumping back into their search to make a move this year. Builders are finishing more...

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You Finally Have More Options for Your Move

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

Some HighlightsIf you put your home search on hold because you couldn’t find anything you liked in your budget, it’s time to try again. ?There’s a much wider selection of homes for sale, with more fresh listings hitting the market each month.With more options come more possibilities. Connect with an agent if you want to see what’s available in your area.?

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Should I Buy a Home Now or Wait?

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

At some point, you’ve probably heard the saying: “Yesterday was the best time to buy a home, but the next best time is today.”That’s because homeownership is about the long game – and home prices typically rise over time. So, while you may be holding out for prices to fall or rates to improve, you should know that trying to time the market rarely works.Here’s what most buyers don’t always think about: the longer you wait, the more buying could cost you. And you deserve to understand why.Forecasts Say Prices Will Keep ClimbingEach quarter, over 100 housing market experts weigh in for the...

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What You Can Do When Mortgage Rates Are a Moving Target

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

Have you seen where mortgage rates have been lately? One day they go down a little. The next day, they go back up again. It can feel confusing and even frustrating if you’re trying to decide whether now’s a good time to buy a home.Take a look at the graph below. It uses data from Mortgage News Daily to show that after a relatively stable month of March, mortgage rates have been on a bit of a roller coaster ride in April: This kind of up-and-down volatility is expected when economic changes are happening.And that’s one of the reasons why trying to time the market isn’t your best move. You...

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Don’t Miss This Prime Spring Window To Sell Your House

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

According to Realtor.com, the best week to list your house this year was April 13–19. And since that week has come and gone, you might be wondering: did I miss my chance? Not at all – and here’s why.That’s just one source’s take, based on their own research. Other organizations run similar studies. And since different places use different methodologies for their research, sometimes the results vary too – and that’s actually good news for you. According to Zillow, the best time to list your house is still ahead.The latest research from Zillow says sellers who list their homes in late May...

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Pre-Approval Isn’t Commitment – It’s Clarity

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 buying a home is on your radar – even if it’s more of a someday plan than a right now plan – getting pre-approved early is still one of the smartest moves you can make. Why? Because, like anything in life, the right prep work makes things clearer.The best time to get serious about buying is before you’re ready to buy. Here’s why.Pre-Approval Helps You Understand Your NumbersOne of the biggest benefits of pre-approval is how it helps you understand your buying power. As part of the pre-approval process, a lender will walk through your finances and tell you what you can borrow based on...

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