Rising Inventory Means This Spring Could Be Your Moment

Written by Cedar Key Mortgage Syndicated User on March 17, 2025. Posted in Cedar Key Mortgage, For Buyers, Home Prices, Mortgage Cedar Key.

Want to know two reasons this spring might finally be your time to buy? Inventory has grown and sellers may be more willing to negotiate as a result. That means you’ve got more options and more power than buyers have had in years. Let’s break it down.1. You Have More Homes To Choose FromThe number of homes for sale this February was higher than it’s been in any of the past five Februarys – and that’s great news for your home search. The graph below uses the latest data from Realtor.com to show the supply of homes on the market has grown by 27.5% in just the last year:More choices for your...

What You Need To Know About Pre-Approval

Written by Cedar Key Mortgage Syndicated User on March 14, 2025. Posted in Buying Tips, Cedar Key Mortgage, For Buyers, Infographics, Mortgage Cedar Key.

Some HighlightsBefore you even start looking at homes, there’s something you should do first – and that’s get pre-approved for your mortgage.Pre-approval is when a lender checks your finances and decides how much you’re qualified to borrow for your home loan. This helps you determine your budget and makes your offer stand out for sellers.?Connect with a trusted lender to get the process started.

Is the Housing Market Starting To Balance Out?

Written by Cedar Key Mortgage Syndicated User on March 13, 2025. Posted in Cedar Key Mortgage, For Buyers, Inventory, Mortgage Cedar Key.

For years, sellers have had the upper hand in the housing market. With so few homes for sale and so many people who wanted to purchase them, buyers faced tough competition just to get an offer accepted. But now, inventory is rising, and things are starting to shift in many areas.So, is the market finally balancing out? And does that mean buyers will have it a bit easier now? Here’s what you need to know.What Makes It a Buyer’s Market or a Seller’s Market?It all comes down to how many homes are for sale in an area compared to how many buyers want to buy there. That’s what ultimately...

Buying Your First Home? It’s Okay To Feel Nervous

Written by Cedar Key Mortgage Syndicated User on March 12, 2025. Posted in Buying Tips, Cedar Key Mortgage, First-Time Buyers, For Buyers, Mortgage Cedar Key.

Buying your first home is exciting, but let’s be real – it can also feel overwhelming. It’s a big step, and with that comes plenty of questions. Am I making the right decision? Can I really afford this right now? Will I be able to make ends meet if I have unexpected repairs? What if I lose my job?Here’s the thing: every first-time homebuyer has these thoughts. The homebuying process has always been a mix of excitement and nerves, and that’s completely normal. Here’s some information that can give you a bit of perspective, so you don’t have these concerns.Focus on What You Can...

Mortgage Rates Hit Lowest Point So Far This Year

Written by Cedar Key Mortgage Syndicated User on March 11, 2025. Posted in Cedar Key Mortgage, For Buyers, Mortgage Cedar Key, Mortgage Rates.

If you’ve been holding off on buying a home because of high mortgage rates, you might want to take another look at the market. That’s because mortgage rates have been trending down lately – and that gives you a chance to jump back in.Mortgage rates have been declining for seven straight weeks now, according to data from Freddie Mac. And the average weekly rate is now at the lowest level so far this year (see graph below):While that may not sound like a significant shift, it is noteworthy. Because the meaningful drop from over 7% to the mid-6’s can change your mindset when it comes to buying...

Should I Buy a Home Right Now? Experts Say Prices Are Only Going Up

Written by Cedar Key Mortgage Syndicated User on March 10, 2025. Posted in Buying Tips, Cedar Key Mortgage, First-Time Buyers, For Buyers, Home Prices, Mortgage Cedar Key.

At one point or another, you’ve probably heard someone say, “Yesterday was the best time to buy a home, but the next best time is today.”That’s because nationally, home values continue to rise. And with mortgage rates still stubbornly high and home prices going up, you may be holding out for prices to fall or trying to time the market for that perfect rate. But here’s the truth: waiting for the right moment could cost you in the long run.Home Prices Are Still Rising – Just at a More Normal PaceThe idea that prices will drop dramatically is wishful thinking in most markets. According to the...

Headed Back Into the Office? You May Decide To Move

Written by Cedar Key Mortgage Syndicated User on March 6, 2025. Posted in Buying Tips, Cedar Key Mortgage, For Buyers, Mortgage Cedar Key.

It’s no secret that remote work has surged over the last few years. And that flexibility gave a lot of people the freedom to move — and work — from wherever they wanted.But now, a growing number of companies are requiring employees to return to the office. And that’s leading some people to make decisions about where they live and if they need to move.How Return-to-Work Policies Are Impacting Housing During the rise of remote work, a lot of employees took the opportunity to move away from expensive or crowded city centers. Some opted for suburban neighborhoods and larger homes with yards,...

Is a Newly Built Home Right for You? The Pros and Cons

Written by Cedar Key Mortgage Syndicated User on March 3, 2025. Posted in Buying Tips, Cedar Key Mortgage, For Buyers, Mortgage Cedar Key, New Construction.

When searching for a home, you don’t want to skip over new builds as an option. Right now, there are more newly built homes to choose from than there would normally be in the market. And those added choices come with some pretty incredible benefits. Talking to your agent is the best way to see if this type of home makes sense for you.Here’s a quick rundown of some things your agent will walk you through – including a few of the top perks of buying a newly built home today and some potential things you’ll want to think about before you ink any contracts.The Perks of Buying a Newly Built...

Is It Better To Rent or Buy a Home Today?

Written by Cedar Key Mortgage Syndicated User on February 28, 2025. Posted in Cedar Key Mortgage, For Buyers, Infographics, Mortgage Cedar Key, Rent vs. Buy.

Some HighlightsA study shows that 70% of prospective buyers fear the long-term consequences of renting. And here’s why.?Rent usually rises over time and that can make it harder to save up to buy a home. But when you buy, you can stabilize your housing expenses and grow your net worth as home values rise. While renting may be the less expensive option in some markets, it can’t match the long-term benefits of homeownership. What’s your #1 reason for wanting to buy?

Is an Accessory Dwelling Unit Right for You? Here’s What To Know

Written by Cedar Key Mortgage Syndicated User on February 26, 2025. Posted in Buying Tips, Cedar Key Mortgage, For Buyers, Mortgage Cedar Key.

Are you having a hard time finding the right home in your budget? Or maybe you already own a home but could use some extra income or a designated space for aging loved ones. Either way, accessory dwelling units (ADUs) could be the smart solution you’ve been looking for in today’s market.What Is an ADU?According to Fannie Mae, an ADU is a small, separate living space that’s on the same lot as a single-family home. It must include its own areas for living, sleeping, cooking, and bathrooms independent of the main house. And they can take shape in a few different ways. Fannie Mae adds, an ADU...

Category: For Buyers