5 Reasons Today’s Housing Market Is Anything but Normal

Written by Condotel Financing Florida Syndicated User on September 2, 2021. Posted in Condotel Financing Florida, Florida Real Estate.

There are many headlines out there that claim we’re reverting to a more normal real estate market. That would indicate the housing market is returning to the pre-pandemic numbers we saw from 2015-2019. But that’s not happening. The market is still extremely vibrant as demand is still strong even while housing supply is slowly returning. Here’s the definition of normal from the Merriam-Webster Dictionary: “conforming to a type, standard, or regular pattern: characterized by that which is considered usual, typical, or routine.” Using this definition, here are five housing industry metrics that...

What You Can Do Right Now To Prepare for Homeownership

Written by Condotel Financing Florida Syndicated User on September 1, 2021. Posted in Condotel Financing Florida, Florida Real Estate.

As rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from ApartmentList.com: “The first half of 2021 has seen the fastest growth in rent prices since the start of our estimates in 2017. Our national rent index has increased by 11.4 percent since January . . . .” Those rising rental costs may make it seem impossible to prepare for homeownership if you’re a renter. But the truth is, there are ways you can – and should – prepare to purchase your first home. Here’s some expert advice on what to do if you’re...

What Buyers and Sellers Need To Know About the Appraisal Gap

Written by Condotel Financing Florida Syndicated User on August 31, 2021. Posted in Condotel Financing Florida, Florida Real Estate.

It’s economy 101 – when supply is low and demand is high, prices naturally rise. That’s what’s happening in today’s housing market. Home prices are appreciating at near-historic rates, and that’s creating some challenges when it comes to home appraisals. In recent months, it’s become increasingly common for an appraisal to come in below the contract price on the house. Shawn Telford, Chief Appraiser for CoreLogic, explains it like this: “Recently, we observed buyers paying prices above listing price and higher than the market data available to appraisers can support. This difference is known...

The Difference in Net Worth Between Homeowners and Renters Is Widening

Written by Condotel Financing Florida Syndicated User on August 30, 2021. Posted in Condotel Financing Florida, Florida Real Estate.

Becoming financially secure is an important goal for many people today, but some don’t realize just how much homeownership can help them achieve that dream. A recent report, The Journey Toward Financial Freedom, surveys Americans about their perspective on financial wellness and their goals. It shows there may be a significant misconception about the role owning a home plays in building wealth: “Home ownership is one of the indicators Americans say is least connected to financial health.” Two major personal wealth goals – homeownership and net worth – work hand-in-hand. Below are just...

Your Checklist To Get Ready To Sell [INFOGRAPHIC]

Written by Condotel Financing Florida Syndicated User on August 27, 2021. Posted in Condotel Financing Florida, Florida Real Estate.

Some Highlights When it comes to selling your house, you want it to look its best inside and out. It’s important to focus on tasks that can make it inviting, show it’s cared for, and boost your curb appeal for prospective buyers. Let’s connect to make sure your house shows well and catches a buyer’s eye. Content previously posted on Keeping Current Matters Keeping Current Matters

If Housing Affordability Is About the Money, Don’t Forget This.

Written by Condotel Financing Florida Syndicated User on August 26, 2021. Posted in Condotel Financing Florida, Florida Real Estate.

There are many non-financial benefits of buying your own home. However, today’s headlines seem to be focusing primarily on the financial aspects of homeownership – specifically affordability. Many articles are making the claim that it’s not affordable to buy a home in today’s market, but that isn’t the case. Today’s buyers are spending approximately 20% of their income on their monthly mortgage payments. According to The Essential Guide to Creating a Homebuying Budget from Freddie Mac, the 20% of income that purchasers are currently paying is well within the 28% guideline suggested: “Most...

Why 2021 Is Still the Year To Sell Your House

Written by Condotel Financing Florida Syndicated User on August 25, 2021. Posted in Condotel Financing Florida, Florida Real Estate.

If you’re trying to decide whether or not to sell your house, this is the time to think seriously about making a move. Fannie Mae’s recent Home Purchase Sentiment Index (HPSI) reveals the number of respondents who say it’s a good time to sell is higher now than it was over the past few summers (see graph below). Today, the majority of consumers, 75 percent, say it’s a good time to sell a house. Why is sellers sentiment up year-over-year? The higher good time to sell sentiment has to do with today’s market conditions, specifically low housing supply and high buyer demand. In the simplest terms,...

What To Do with Your Vacation Home as Summer Ends

Written by Condotel Financing Florida Syndicated User on August 24, 2021. Posted in Condotel Financing Florida, Florida Real Estate.

As summer comes to a close, is it time to think about selling your vacation home? Based on recent data and expert opinions, it’s something you may want to consider. According to research from the National Association of Realtors (NAR), vacation home sales are up 57.2% year-over-year for January-April 2021. If you’ve taken your last vacation this summer, here are reasons you should consider selling your vacation home this year. 1. Remote work continues to drive demand for vacation homes. As the report from NAR says, based on continuously evolving work needs, there could be more interest in your...

What Do Experts Say About Today’s Mortgage Rates?

Written by Condotel Financing Florida Syndicated User on August 23, 2021. Posted in Condotel Financing Florida, Florida Real Estate.

Mortgage rates are hovering near record lows, and that’s good news for today’s homebuyers. The graph below shows mortgage rates dating back to 2016 and where today falls by comparison. Generally speaking, when rates are low, you can afford more home for your money. That’s why experts across the industry agree – today’s low rates present buyers with an incredible opportunity. Here’s what they have to say: Sam Khater, Chief Economist at Freddie Mac, points out the historic nature of today’s rates: “As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants...

Options for First-Time Homebuyers [INFOGRAPHIC]

Written by Condotel Financing Florida Syndicated User on August 20, 2021. Posted in Condotel Financing Florida, Florida Real Estate.

Some Highlights With a housing market this competitive, sometimes you have to think outside the box. Work with your trusted real estate advisors to do things like assess your budget, expand your search radius, look into other options, and determine your true needs. If you’re having trouble finding your first home, let’s connect to explore your options. It’s out there! Content previously posted on Keeping Current Matters Keeping Current Matters

Category: Florida Real Estate