Homeowners Have Incredible Equity To Leverage Right Now

Written by Naples Mortgage Syndicated User on May 16, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Naples Florida Mortgage, Naples Mortgage.

Even though home prices have moderated over the last year, many homeowners still have an incredible amount of equity. But what is equity? In the simplest terms, equity is the difference between the market value of your home and the amount you owe on your mortgage. The National Association of Realtors (NAR) explains how your equity grows over time:“Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.”How Your Equity Can Help You Achieve Your GoalsThe equity you build up over the years can be used to your advantage when you sell...

Ways To Overcome Affordability Challenges in Today’s Housing Market [INFOGRAPHIC]

Written by Naples Mortgage Syndicated User on April 29, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers, Naples Florida Mortgage, Naples Mortgage, Pricing.

Some HighlightsWith so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget.You can also work with a trusted lender to consider alternative financing options and search for down payment assistance.If you’ve been searching for a home but are concerned about rising costs, make sure you have a team of trusted real estate professionals for expert advice.

The Three Factors Affecting Home Affordability Today

Written by Naples Mortgage Syndicated User on April 27, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Naples Florida Mortgage, Naples Mortgage, Pricing.

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages.Considering how each one of these factors is changing gives you the full picture of home affordability today. Here’s the latest.1. Mortgage RatesWhile mortgage rates are higher than they were a year ago, they’ve hovered primarily between...

The Power of Pre-Approval

Written by Naples Mortgage Syndicated User on April 25, 2023. Posted in First Time Home Buyers, For Buyers, Move-Up Buyers, Naples Florida Mortgage, Naples Mortgage.

If you’re buying a home this spring, today’s housing market can feel like a challenge. With so few homes on the market right now, plus higher mortgage rates, it’s essential to have a firm grasp on your homebuying budget. You’ll also need a sense of determination to find the right house and act quickly when you go to put in an offer. One thing you can do to help you prepare is to get pre-approved.To understand why it’s such an important step, you need to know what pre-approval is. As part of the process, a lender looks at your finances to determine what they’d be willing to loan you. From there,...

Why You May Want an Energy-Efficient Home [INFOGRAPHIC]

Written by Naples Mortgage Syndicated User on April 22, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers, Naples Florida Mortgage, Naples Mortgage.

Some HighlightsSince inflation is increasing the cost of goods and services, it may make sense to look for an energy-efficient home.Energy prices have increased over the last year, so look for energy-efficient features in your home search.If you’re looking to buy a home this year, work with a real estate expert so you have a partner to help you consider which features are most important to you.

Think Twice Before Waiting for Lower Home Prices

Written by Naples Mortgage Syndicated User on April 18, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Millennials, Move-Up Buyers, Naples Florida Mortgage, Naples Mortgage, Pricing.

As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy.A recent survey from Zonda shows 53% of millennials are still renting right now because they’re waiting for home prices to come down. But here’s the thing: the most recent data...

Category: Move-Up Buyers