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Category: Move-Up

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Move-Up Buyers Are Choosing New Construction

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

At some point, a house that once felt perfect just… doesn’t anymore.Maybe you need more space.Maybe working from home turned your dining room into a permanent office.Maybe the layout just doesn’t match how you live now.If your current house is starting to feel like it’s holding you back instead of supporting your life, it’s natural to think about making a move. But that brings up the next big question: once you sell, where do you go?For a growing number of buyers, the answer is something brand new.New Construction Is a More Popular Choice LatelyAccording to the National Association of...

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Your Equity Could Change Everything About Your Next Move

Written by Key West Mortgage Syndicated User on . Posted in Equity, For Sellers, Key West Florida News, Key West News, Move-Up.

A lot of people are asking the same thing right now: “Is it even a good time to sell?” And the truth may come as a bit of a surprise…For many homeowners, the answer is a strong yes.Why? Because of one major factor working in your favor: your equity. Odds are, if you’ve lived in your home for a while, you know you have significant equity. But how much are we really talking about? The number might just change everything about your next move.The Hidden Wealth of HomeownershipHere’s how it works. When you own a home, you build up something called equity.Each time you make a mortgage...

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Why So Many People Are Thankful They Bought a Home This Year

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

Homebuyers are weighing their options right now, and they certainly have a lot on their minds. With everything going on in the job market, the economy, and more – there’s a lot to think about these days. And maybe that’s making you wonder if it really makes sense to buy a home right now.But here’s what many recent buyers would tell you: even with all that, making a move is worth it. And this is why they’re thankful they went ahead and took the plunge already. Life doesn’t wait for better market conditions. So, your decision shouldn’t be about trying to time the market...

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Why You Don’t Need To Be Afraid of Today’s Mortgage Rates

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

Mortgage rates have been the monster under the bed for a while. Every time they tick up, people flinch and say, “Maybe I’ll wait.” But here’s the twist. Waiting for that perfect 5-point-something rate could end up haunting your wallet later.The Magic NumberAccording to the National Association of Realtors (NAR):“. . . a 30-year fixed rate mortgage of 6% would make the median-priced home affordable for about 5.5 million more households—including 1.6 million renters. If rates were to hit that magic number, it’s likely that about 10%—or 550,000—of those additional households would buy a home...

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The $280 Shift in Affordability Every Homebuyer Should Know

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

If you paused your plans to move because of high rates or prices, it may finally be time to take a second look at your numbers. Affordability is improving in 39 of the top 50 markets, according to First American. And that’s the 5th straight month where buying a home has started to get a little bit easier.Let’s break this down into real dollars, so you can see the difference this could make for you (and your move).Monthly Payments Are Coming DownOne of the clearest signs of this shift is in monthly payments. The latest data from Redfin shows mortgage payments on a median-priced home are now...

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Why a Newly Built Home Might Be the Move Right Now

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Buying Tips, First-Time Buyers, For Buyers, Home Prices, Inventory, Key West Florida News, Key West News, Mortgage Rates, Move-Up, New Construction, Rent vs. Buy.

Are you looking for better home prices, or even a lower mortgage rate? You might find both in one place: a newly built home. While many buyers are overlooking new construction, it could be your best opportunity in today’s market. Here’s why.There are more brand-new homes available right now than there were even just a few months ago. According to the most recent data from the Census and the National Association of Realtors (NAR), roughly 1 in 5 homes for sale right now is new construction. So, if you’re not looking at newly built homes, you’re missing out on a big portion of what’s...

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Equity Can Make Your Move Possible When Affordability Is Tight [INFOGRAPHIC]

Written by Key West Mortgage Syndicated User on . Posted in Affordability, Equity, Infographics, Key West Florida News, Key West News, Move-Up.

Some HighlightsDid you know the equity you have in your current house can help make your move possible?Once you sell, you can use it for a larger down payment on your next home, so you’re borrowing less. Or, you may even have enough to be an all-cash buyer. The typical homeowner has $298,000 in equity. If you want to find out how much you have, connect with a local real estate agent for a Professional Equity Assessment Report.

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