Sellers Have Incredible Leverage in Today’s Market

Written by Lakeland FL Mortgage Syndicated User on November 3, 2021. Posted in For Sellers, Housing Market Updates, Interest Rates, Lakeland FL Mortgage, Mortgage Lakeland FL, Move-Up Buyers, Pricing.

With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying: “Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.” But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. According to the latest Existing Home Sales Report from NAR: “From one year ago, the inventory of unsold homes decreased...

There Are More Homes Available Now than There Were This Spring

Written by Lakeland FL Mortgage Syndicated User on November 1, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Lakeland FL Mortgage, Mortgage Lakeland FL, Move-Up Buyers.

There’s a lot of talk lately about how challenging it can be to find a home to buy. While housing inventory is still low, there are a few important things to understand about the supply of homes for sale as we move into the end of the year. The Number of Homes for Sale Usually Peaks in the Fall In the residential real estate market, trends generally follow a predictable and seasonal pattern. Typically, the number of homes available for sale (or active monthly listings) peaks in the fall. But in a chapter where so little feels normal, the question becomes: should we expect a fall peak this year? If...

Housing Challenge or Housing Opportunity? It Depends.

Written by Lakeland FL Mortgage Syndicated User on November 1, 2021. Posted in For Sellers, Housing Market Updates, Interest Rates, Lakeland FL Mortgage, Mortgage Lakeland FL, Move-Up Buyers, Pricing.

The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we’ve experienced historically. There are many reasons for the limited number of homes on the market, but as you can see in the graph below, we’re well below where we’ve been for most of the past 10 years. Today, across the country, there is only a 2.4-month supply of homes available for sale. The Opportunity This lack of homes for sale is creating a challenge for many buyers who are growing frustrated...

Does Your House Have What Buyers Want?

Written by Lakeland FL Mortgage Syndicated User on November 1, 2021. Posted in For Sellers, Housing Market Updates, Lakeland FL Mortgage, Mortgage Lakeland FL.

The rise in remote work is changing what many Americans want in their homes. Many companies are choosing to delay reopening or go remote full-time, and today’s buyers are looking for homes with more space to support their work needs. As a seller, if you no longer need the extra room you have in your home, rest assured there are buyers who do. Remote Work Is Here To Stay Remote work remains a reality for many Americans. A recent poll from Garter, Inc. shows many organizations have not yet returned their offices: “. . . 66% of organizations are delaying reopening their offices due to new COVID-19...

Your Home Equity Is Growing [INFOGRAPHIC]

Written by Lakeland FL Mortgage Syndicated User on November 1, 2021. Posted in For Sellers, Housing Market Updates, Infographics, Lakeland FL Mortgage, Mortgage Lakeland FL, Move-Up Buyers.

Some Highlights If you’re a homeowner, today’s rising equity is great news. On average, homeowners have gained $51,500 in equity since this time last year. Whether it’s funding an education, fueling your next move, or starting a business, your home equity is a great tool you can use to power your dreams. Ready to sell? Let’s connect to talk about how you can take advantage of your rising equity to reach your goals. Content previously posted on Keeping Current Matters

Important Distinction: Homes Are Less Affordable, Not Unaffordable

Written by Lakeland FL Mortgage Syndicated User on November 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Lakeland FL Mortgage, Mortgage Lakeland FL.

It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been. Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here’s what the report...

Category: Housing Market Updates