What’s Going To Happen with Home Prices This Year?

Written by Fort Lauderdale Condo Financing on January 14, 2022. Posted in For Buyers, For Sellers, Fort Lauderdale Condo Financing, Fort Lauderdale Condo Mortgage Rates, Housing Market Updates, Pricing.

After almost two years of double-digit increases, many experts thought home price appreciation would decelerate or happen at a slower pace in the last quarter of 2021. However, the latest Home Price Insights Report from CoreLogic indicates while prices may have plateaued, appreciation has definitely not slowed. The following graph shows year-over-year appreciation throughout 2021. December data has not yet been released. As the graph shows, appreciation has remained steady at around 18% over the last five months. In addition, the latest S&P Case-Shiller Price Index and the FHFA Price Index...

Two Ways Homebuyers Can Win in Today’s Market

Written by Fort Lauderdale Condo Financing on January 13, 2022. Posted in First Time Home Buyers, For Buyers, Fort Lauderdale Condo Financing, Fort Lauderdale Condo Mortgage Rates, Move-Up Buyers.

If your goal is to purchase a home this year, you might be looking for any advantage you can get in today’s sellers’ market. While competition is still fierce for homebuyers, there are ways you can win and secure the home of your dreams, even in a hot market. Act Early and Save The earlier you act this year, the more affordable your purchase will be. That’s because experts project mortgage rates will rise as we move deeper into 2022. According to Freddie Mac, the average 30-year fixed-rate mortgage is expected to be 3.5% by year’s end. Experts forecast home prices will rise as well. That means...

Why Inflation Shouldn’t Stop You from Buying a Home in 2022

Written by Fort Lauderdale Condo Financing on January 12, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Fort Lauderdale Condo Financing, Fort Lauderdale Condo Mortgage Rates, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing.

If you’re following along with the news today, you’re probably hearing a lot about record-breaking home prices, rising consumer costs, supply chain constraints, and more. And if you’re thinking about purchasing a home this year, all of these inflationary concerns are likely making you wonder if you should wait to buy. Investopedia explains that during a period of high inflation, prices rise across the board. And while home prices aren’t immune from this increase, here’s why inflation shouldn’t stop you from buying a home in 2022. Homeownership Offers Stability and Security Home prices have...

How To Hit Your Homebuying Goals This Year [INFOGRAPHIC]

Written by Fort Lauderdale Condo Financing on January 8, 2022. Posted in Down Payments, First Time Home Buyers, For Buyers, Fort Lauderdale Condo Financing, Fort Lauderdale Condo Mortgage Rates, Infographics, Move-Up Buyers.

Some Highlights If you’re looking to buy a home, you may want to put these items on your to-do list to ensure you hit your goals. It’s important to start working on your credit and saving for a down payment early. When you’re ready to begin your search, work with a real estate professional and get pre-approved so you know how much you can borrow. Connect with a real estate advisor so you have the guidance you need to achieve your homebuying goals this year. Content previously posted on Keeping Current Matters

Avoid the Rental Trap in 2022

Written by Fort Lauderdale Condo Financing on January 5, 2022. Posted in First Time Home Buyers, For Buyers, Fort Lauderdale Condo Financing, Fort Lauderdale Condo Mortgage Rates, Rent vs. Buy.

Are you one of the many renters thinking about where you’ll live the next time your lease is up? Before you decide whether to look for a new house or another apartment, it’s important to understand the true costs of renting in 2022. As a renter, you should know rents have been rising since 1988 (see graph below): In 2021, rents grew dramatically. According to ApartmentList.com, since January 2021: “. . . the national median rent has increased by a staggering 17.8 percent. To put that in context, rent growth from January to November averaged just 2.6 percent in the pre-pandemic years from...

How Much Do You Need for Your Down Payment?

Written by Fort Lauderdale Condo Financing on January 4, 2022. Posted in Buying Myths, Down Payments, For Buyers, Fort Lauderdale Condo Financing, Fort Lauderdale Condo Mortgage Rates.

As you set out on your homebuying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment? If you think you have to put 20% down, you may have set your goal based on a common misconception. Freddie Mac says: “The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.” Unless specified by your loan type or lender, it’s typically not required to put 20% down. According to the Profile of Home Buyers and Sellers from the National...

Expert Insights on the 2022 Housing Market

Written by Fort Lauderdale Condo Financing on December 29, 2021. Posted in For Buyers, For Sellers, Fort Lauderdale Condo Financing, Fort Lauderdale Condo Mortgage Rates, Housing Market Updates, Interest Rates, Pricing.

As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022. Odeta Kushi, Deputy Chief Economist, First American: “Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.” Danielle Hale, Chief Economist, realtor.com: “Affordability will increasingly be a challenge...

5 Tips for Making Your Best Offer on a Home

Written by Fort Lauderdale Condo Financing on December 28, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Fort Lauderdale Condo Financing, Fort Lauderdale Condo Mortgage Rates, Move-Up Buyers.

As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to help you rise above the competition. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it: “This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.” Showing...

Key Things To Avoid After Applying for a Mortgage

Written by Fort Lauderdale Condo Financing on December 27, 2021. Posted in Buying Myths, For Buyers, Fort Lauderdale Condo Financing, Fort Lauderdale Condo Mortgage Rates.

Once you’ve found your dream home and applied for a mortgage, there are some key things to keep in mind before you close. It’s exciting to start thinking about moving in and decorating your new place, but before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan. Here’s a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process. 1. Don’t Deposit Cash...

When a House Becomes a Home

Written by Fort Lauderdale Condo Financing on December 23, 2021. Posted in First Time Home Buyers, For Buyers, Fort Lauderdale Condo Financing, Fort Lauderdale Condo Mortgage Rates, Move-Up Buyers.

It’s clear that owning a home makes financial sense. But lately, the emotional side of what drives homeownership is becoming increasingly important. No matter the living space, the feeling of a home means different things to different people. Whether it’s a familiar scent or a favorite chair, the feel-good connections to our own homes can be more important to us than the financial ones. Here are some of the reasons why. 1. Owning your home is an accomplishment worth celebrating You’ve put in a lot of work to achieve the dream of homeownership, and whether it’s your first home or your fifth,...

Category: For Buyers