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Tag: #mortgagekeywest

More Contracts Are Falling Through. Here’s How To Get Ahead.

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

When you sell a house, the last thing you want is for the deal to fall apart right before closing. But according to the latest data from Redfin, that’s happening a bit more often lately. The good news is, it’s completely avoidable if you lean on an agent for insight into why that is and how to avoid it happening to you.This June, 15% of pending home sales fell through. That means those buyers backed out of their contracts. That’s not too much higher than the norm of roughly 12% from 2017-2019, but it’s still an increase. And it’s one you don’t want to have to deal with. The key to avoiding...

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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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What You Need To Know About Concessions

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

Some HighlightsNow that there are more homes for sale, buyers have more options. And sellers need to be more flexible to close the deal.That’s why almost half of homeowners are making some type of concession. This can include covering closing costs, paying for repairs, or dropping the price.Not sure which concessions to offer? Connect with a local agent so you know what’s working for sellers in your market.

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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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Online Home-Buying Search Terms Recently Hit 2-Year High

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

Believe it or not, there are clear signs buyer interest is heating up again.Let’s talk about what’s really going on behind the scenes, and why the housing market might not be as quiet out there as it seems. Buyers Are Looking, and Search Trends Prove ItOne of the clearest ways to measure what people are thinking about is to look at what they’re searching for online. And according to Google Trends, searches for phrases like “home for sale” have been climbing steadily this year.The graph below shows an index of two common homebuyer search phrases and how popular they were on Google over the...

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The 3 Things You Risk by Pricing Too High

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

When selling your house, the price you choose isn’t just a number, it’s a strategy. And in today’s market, that strategy needs to be sharp.The number of homes for sale is climbing. And that means buyers have more choices and can be more selective. If your price doesn’t line up with what else is out there, they’ll scroll right past it and go on to the next one.Pricing right from the start is your best move – and a great agent can help make sure you do.Overpricing Comes at a CostAnd more sellers are finding that out the hard way. They list their house based on how things were a year ago...

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What Credit Score Do You Really Need To Buy a Home?

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 Fannie Mae, 90% of buyers don’t actually know what credit score lenders are looking for, or they overestimate the minimum needed.Let that sink in. That means most homebuyers think they need better credit than they actually do – and maybe you’re one of them. And that could make you think buying a home is out of reach for you right now, even if that’s not necessarily true. So, let’s look at what the data really says about credit scores and homebuying.There’s No One Magic NumberThere’s no universal credit score you absolutely have to have when buying a home. And that means there’s...

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Home Price Forecasts for the Second Half of 2025

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

Some HighlightsWith all the headlines circulating recently, you may be wondering what’s next for home prices? Here’s what the expert forecasts say.Home prices are still forecast to rise nationally this year, just at a much slower pace. But price trends are going to vary by area.To have a quick conversation about what’s happening in your local market, connect with a real estate agent.

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Today’s Tale of Two Housing Markets

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

Depending on where you live, the housing market could feel red-hot or strangely quiet right now. The truth is, local markets are starting to move in different directions. In some places, buyers are calling the shots. In others, sellers still hold the power. It’s a tale of two markets.What’s a Buyer’s Market vs. a Seller’s Market?In a buyer’s market, there are more homes for sale and not as many buyers. That means homes sit longer, buyers have more negotiating power, and prices tend to soften as a result. It’s simple supply and demand.On the flip side, a seller’s market happens when there...

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Housing Market Forecasts for the Rest of 2025

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

If you’ve been watching the market, you’ve likely noticed a few changes already this year. But what’s next? From home prices to mortgage rates, here’s what the latest expert forecasts suggest for the rest of 2025 – and what these shifts could mean for you.Will Home Prices Fall?Many buyers are hoping home prices will come down soon. And recent headlines about prices dipping in some areas are making some people believe it’s just a matter of time before there’s a bigger drop. But here are the facts.While home price growth is slowing down, that doesn’t mean we’re headed for a crash. As...

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