What Do Past Years Tell Us About Today’s Real Estate Market?

Written by Cedar Key Mortgage Syndicated User on October 14, 2021. Posted in Cedar Key Mortgage, For Sellers, Housing Market Updates, Mortgage Cedar Key, Selling Myths.

As you follow the news, you’re likely seeing headlines discussing what’s going on in today’s housing market. Chances are high that some of the more recent storylines you’ve come across mention terms like cooling or slowing when talking about where the market is headed. But what do these terms mean? The housing market today is anything but normal, and it’s still an incredibly strong sellers’ market, especially when compared to the few years leading up to the pandemic. With that in mind, what can previous years tell us about today’s real estate market and if it’s truly slowing? We’re Still Seeing...

Don’t Wait for a Lower Mortgage Rate – It Could Cost You

Written by Cedar Key Mortgage Syndicated User on October 12, 2021. Posted in Buying Myths, Cedar Key Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Cedar Key, Move-Up Buyers.

Today’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn’t over just yet. If you’re one of the buyers who worry they’ve missed out, rest assured today’s mortgage rates are still worth taking advantage of. Even today, our mortgage rates are below what they’ve been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you’re still in a great position to secure a rate well...

What’s Causing Today’s Competitive Real Estate Market? [INFOGRAPHIC]

Written by Cedar Key Mortgage Syndicated User on October 8, 2021. Posted in Cedar Key Mortgage, For Sellers, Housing Market Updates, Infographics, Interest Rates, Millennials, Mortgage Cedar Key, New Construction.

Some Highlights Today’s strong sellers’ market is the direct result of high demand and low supply. Low mortgage rates and generational trends have created an increased demand for homes. Meanwhile, the slower pace of new home construction and homeowners staying in their homes longer have both led to today’s low supply. If you’re thinking of selling, let’s connect to talk about our local area and how you can take advantage of today’s housing market. Content previously posted on Keeping Current Matters

111,285 Reasons You Should Buy a Home This Year

Written by Cedar Key Mortgage Syndicated User on October 7, 2021. Posted in Cedar Key Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Cedar Key, Move-Up Buyers, Rent vs. Buy.

The financial benefits of buying a home versus renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner. According to the latest research from the National Association of Realtors (NAR): “Homeownership is a key pathway to building wealth and narrowing the racial income and wealth inequality gap. Housing wealth (equity) accumulation takes time and is built up by price appreciation and paying off the mortgage.” An increase in equity builds the wealth of the individual that owns it. This wealth can be passed down...

What Do Supply and Demand Tell Us About Today’s Housing Market?

Written by Cedar Key Mortgage Syndicated User on October 6, 2021. Posted in Cedar Key Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Cedar Key, Move-Up Buyers, Pricing.

There’s a well-known economic theory – the law of supply and demand – that explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is very low, prices can rise significantly. Understanding the impact both supply and demand have can provide the answers to a few popular questions about today’s housing market: Why are prices rising? Where are prices headed? What does this mean for homebuyers? Why Are Prices Rising? According...

The Main Key To Understanding the Rise in Mortgage Rates

Written by Cedar Key Mortgage Syndicated User on October 5, 2021. Posted in Cedar Key Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Cedar Key, Move-Up Buyers.

Every Thursday, Freddie Mac releases the results of their Primary Mortgage Market Survey which reveals the most recent movement in the 30-year fixed mortgage rate. Last week, the rate was announced as 3.01%. It was the first time in three months that the mortgage rate surpassed 3%. In a press release accompanying the survey, Sam Khater, Chief Economist at Freddie Mac, explains: “Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June.” The reason Khater mentions the 10-year U.S. Treasury yield is because there has been a...

As Home Equity Rises, So Does Your Wealth

Written by Cedar Key Mortgage Syndicated User on September 30, 2021. Posted in Cedar Key Mortgage, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Mortgage Cedar Key, Move-Up Buyers, Pricing.

Homeownership is still a crucial part of the American dream. For those people who own a home (and those looking to buy one), it’s clear that being a homeowner has considerable benefits both emotionally and financially. In addition to long-term stability, buying a home is one of the best ways to increase your net worth. This boost to your wealth comes in the form of equity. Equity is the difference between what you owe on the home and its market value based on factors like price appreciation. The best thing about equity is that it often grows without you even realizing it, especially in a sellers’...

Early October is the Sweet Spot for Buyers

Written by Cedar Key Mortgage Syndicated User on September 28, 2021. Posted in Cedar Key Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Cedar Key, Move-Up Buyers.

Are you looking to buy a home? If so, we’ve got good news for you. While there’s no denying the housing market is having a great year, many of the headlines are focused on the perks for sellers. But what about buyers today? As a buyer, you’re likely braving bidding wars and weighing low mortgage rates versus price appreciation as you search for your dream home. If you find yourself a bit discouraged, hear this: there are clear signs buyers may have more opportunities this fall. According to realtor.com, the sweet spot for buyers is just around the corner. In a recent study, experts analyzed...

If You’re a Buyer, Is Offering Asking Price Enough?

Written by Cedar Key Mortgage Syndicated User on September 27, 2021. Posted in Buying Myths, Cedar Key Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Cedar Key, Move-Up Buyers.

In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle. Things Are Different Today Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are: Receiving an average of 3.8 offers Selling in just 17 days Homes selling quickly...

It’s Still a Sellers’ Market [INFOGRAPHIC]

Written by Cedar Key Mortgage Syndicated User on September 24, 2021. Posted in Cedar Key Mortgage, For Sellers, Housing Market Updates, Infographics, Mortgage Cedar Key, Move-Up Buyers, Pricing.

Some Highlights Due to low supply and high demand, today is one of the strongest sellers’ markets we’ve seen. Sellers can benefit from more offers to pick from, higher home values, and a faster sales process. That might be why 73% of people believe it’s a good time to sell. Sellers, don’t miss out on this unique opportunity. Let’s connect so you can take advantage of this hot sellers’ market. Content previously posted on Keeping Current Matters

Category: Housing Market Updates