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Category: Key West News

Monroe County is the southernmost county in Florida. It stretches more than 100 miles from Key Largo to Key West and is surrounded by the Atlantic Ocean to the east and the Gulf of Mexico to the west. Its key population centers include Key Largo, Islamorada, Tavernier, Marathon, Big Pine Key and Key West.

The Florida Keys are renowned for being among the most pre-eminent fishing and diving destinations in the world. Recreation options include fishing, diving, kayaking, camping, bicycling and assorted other water and outdoor sports.

Is an Accessory Dwelling Unit Right for You? Here’s What To Know

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

Are you having a hard time finding the right home in your budget? Or maybe you already own a home but could use some extra income or a designated space for aging loved ones. Either way, accessory dwelling units (ADUs) could be the smart solution you’ve been looking for in today’s market.What Is an ADU?According to Fannie Mae, an ADU is a small, separate living space that’s on the same lot as a single-family home. It must include its own areas for living, sleeping, cooking, and bathrooms independent of the main house. And they can take shape in a few different ways. Fannie Mae adds, an ADU...

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Are Investors Actually Buying Up All the Homes?

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

Are you trying to buy a home but you feel like you’re up against deep-pocketed Wall Street investors snatching up everything in sight? Many people believe mega investors are driving up prices and buying up all the homes for sale, and that’s making it hard for regular buyers like you to compete.But here’s the truth. Investor purchases are actually on the decline, and the big players aren’t nearly as active as you might think. Let’s dive into the facts and put this myth to rest.Most Investors Are Small, Not Mega InvestorsA common misconception is that massive institutional investors are...

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How To Buy a Home Without Waiting for Lower Rates

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

Many people are hoping mortgage rates will come down before they buy a home. But will that actually happen? According to the latest forecasts, experts say rates will decline, but not by as much as a lot of people want.The good news? Even if they don’t drop substantially, there are still ways to make buying a home more affordable.How Much Will Rates Drop?A few months ago, experts were forecasting mortgage rates could dip below 6% by the end of the year. But recent projections suggest that may not happen after all.While mortgage rates are still expected to decline some later this year,...

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Should I Update My House Before I Sell It?

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

Some HighlightsWith more homes for sale and buyers being more selective, it’s smart to make strategic updates.? But how do you decide what’s worth doing? ?You lean on an agent.An agent will be able to tell you what buyers want, quick wins that’ll have a big impact, and what projects have the best ROI.What projects are on your to-do list before selling? With only a month left before spring, connect with a local agent so you know what’s worth the time and effort. 

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Seller Concessions: A Smart Strategy To Get Your House Sold

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

For the past few years, it’s been mostly a seller’s market. But dynamics are shifting as the number of homes for sale grows. And that means that the market is balancing out a bit. As a result, some sellers are finding they need to be more flexible to close a deal. One strategy that can help? Offering concessions.As the National Association of Realtors (NAR) explains:“As home inventory begins to grow and buyers regain some advantage in the market, sellers may consider offering more in negotiations to make the deal more attractive and get to the closing table.”What Are Seller...

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The Return to Urban Living — Why More People Are Moving Back to Cities

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

After years of suburban and rural migration during the pandemic, cities have been making a comeback in the past couple of years. According to the National Association of Realtors (NAR), the percentage of people moving to cities has risen to 16%. While that may not sound like a big number to you, it is the highest level in a decade – and that’s a big deal (see graph below):And data from BrightMLS seems to confirm this trend. In a recent survey, 1 in 5 (20.6%) people looking to buy say they want to live in the city.So, what’s behind this ongoing shift back to urban living? Let’s break down...

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Buying a Home May Help Shield You from Inflation

Written by Key West Mortgage Syndicated User on . Posted in Home Prices, Key West Florida News, Key West News, Rent vs. Buy.

It feels like everything is getting more expensive these days. That’s because inflation has remained higher than normal for longer than expected – and that’s impacting the costs of goods, services, and more. And with rising costs all around you, you’re probably questioning: is now really the right time to buy a home?Here’s the good news. Owning a home is actually one of the best ways to protect yourself from the rising costs that come with inflation.A Fixed Mortgage Protects You from Rising Housing CostsOne of the key benefits of homeownership is that when you buy a home with a fixed-rate...

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Are You Asking Yourself These Questions About Selling Your House?

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

Some homeowners hesitate to sell because they’ve got unanswered questions that hold them back. But a lot of times their concerns are based on misconceptions, not facts. And if they’d just talk to an agent about it, they’d see these doubts aren’t necessarily a hurdle at all.If uncertainty is keeping you from making a move, it’s time to get the real answers. The ones you deserve. And to take the pressure off, you don’t have to ask the questions, because here’s the data that answers them.1. Is It Even a Good Idea To Move Right Now? If you own a home already, you may be tempted to wait because...

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Time in the Market Beats Trying To Time the Market

Written by Key West Mortgage Syndicated User on . Posted in Equity, Forecasts, Home Prices, Infographics, Key West Florida News, Key West News.

Some HighlightsAre you torn between whether to buy a home now or wait? Consider this.Forecasts show prices will climb for ?at least the next 5 years. If you wait, the price of a home will be higher later on. But, if you buy a $400K now, you could gain roughly $83K in equity as prices rise.If you’re able to buy now, this equity is one reason why it’ll be worth it in the long run. Connect with an agent if you’re ready to talk through ways we can make it happen.

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The Secret To Selling? Using an Agent To Get Your House Noticed

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

In a recent survey, the National Association of Realtors (NAR) asked sellers what they want most from a real estate agent. The number one answer was to help market their house.It makes sense. The way your agent markets your house can be the difference between whether or not it stands out and gets attention from buyers. That’s why it’s so important to work with an expert local agent that knows what they’re doing.According to that same report from NAR, here are some of the most common methods real estate agents use to market homes, and how you benefit when your agent uses them...

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