A Newly Built Home May Actually Be More Budget-Friendly

Written by Panama City Mortgage Mortgage Syndicated User on July 25, 2024. Posted in Buying Tips, For Buyers, Home Prices, Mortgage Panama City, Panama City Mortgage.

If you’re in the market to buy a home, there’s some exciting news for you. Many people assume that newly built homes are more expensive than existing ones (houses that have already been lived in), but that’s not always the case. In fact, exploring newly built homes can sometimes lead to more cost-effective options, especially today. Hard to believe, right? But the data doesn’t lie. Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option. Reason 1: Lower Median Prices for Newly Built Homes The median sales price for...

How Affordability and Remote Work Are Changing Where People Live

Written by Panama City Mortgage Mortgage Syndicated User on July 23, 2024. Posted in Affordability, Buying Tips, For Buyers, Mortgage Panama City, Panama City Mortgage.

There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it. Consider Moving to a More Affordable Area Today’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower. As Orphe Divounguy, Senior Economist at Zillow, explains: “Housing affordability has always mattered . . . and you’re seeing it across...

The Biggest Mistakes Homebuyers Are Making Right Now

Written by Panama City Mortgage Mortgage Syndicated User on July 20, 2024. Posted in Buying Tips, For Buyers, Infographics, Mortgage Panama City, Panama City Mortgage.

Some Highlights Want to know the biggest mistakes homebuyers are making today? They include everything from putting off pre-approval for too long, holding out for the perfect home, buying more than they can afford, and skipping out on hiring a pro. Connect with a real estate agent to make sure you have a pro on your side who can help you avoid these mistakes.

Unlocking Homebuyer Opportunities in 2024

Written by Panama City Mortgage Mortgage Syndicated User on July 19, 2024. Posted in Buying Tips, For Buyers, Home Prices, Inventory, Mortgage Panama City, Panama City Mortgage.

There’s no arguing this past year has been difficult for homebuyers. And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt like too much to tackle. You’re not alone in that. A Bright MLS study found some of the top reasons buyers paused their search in late 2023 and early 2024 were: They couldn’t find anything in their price range They didn’t have any successful offers or had difficulty competing They couldn’t find the right home If any of these sound like why you stopped looking, here’s what...

How To Determine if You’re Ready To Buy a Home

Written by Panama City Mortgage Mortgage Syndicated User on July 17, 2024. Posted in Agent Value, Buying Tips, For Buyers, Mortgage Panama City, Panama City Mortgage.

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more. And, you’re juggling how all of those things will impact the choice you’ll make. While housing market conditions are definitely a factor in your decision, your own personal situation and your finances matter too. As an article from NerdWallet says: “Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation,...

The Price of Perfection: Don’t Wait for the Perfect Home

Written by Panama City Mortgage Mortgage Syndicated User on July 11, 2024. Posted in Agent Value, Buying Tips, First-Time Buyers, For Buyers, Mortgage Panama City, Panama City Mortgage.

In life, patience is a virtue – but in the world of homebuying, waiting too long in hopes of finding the perfect home actually isn’t wise. That’s because the pursuit of perfection comes at a cost. And in this case, that cost may be delaying your dream of homeownership. As Bankrate explains: “One of the most common first-time homebuyer mistakes is looking for a home that checks each of your boxes. Looking for perfection can narrow your choices and lead you to pass over good, suitable options for starter homes in the hopes that something better will come along.” The Cost of Holding Out...

Things To Avoid After Applying for a Mortgage [INFOGRAPHIC]

Written by Panama City Mortgage Mortgage Syndicated User on July 6, 2024. Posted in Buying Tips, For Buyers, Infographics, Mortgage Panama City, Mortgage Rates, Panama City Mortgage.

Some Highlights There are a few key things you’ll want to avoid after applying for a mortgage to make sure you’re in the best position when you get to the closing table. Don’t change bank accounts, apply for new credit, make any large purchases or transfers, and don’t co-sign loans for anyone. Here’s a good rule of thumb. Always connect with your loan officer before making any financial decisions once you’ve started the mortgage process.

Homeownership: The Heart of the American Dream

Written by Panama City Mortgage Mortgage Syndicated User on July 5, 2024. Posted in Buying Tips, Equity, For Buyers, Mortgage Panama City, Panama City Mortgage.

Everyone’s vision for the future is personal and unique. But for many, common goals include success, freedom, and prosperity — values closely tied to having your own home and the iconic feeling of achieving the American Dream. A recent survey by Bankrate reveals exactly that: homeownership is still a part of the American Dream. The results show, at 78%, that owning a home tops the list, surpassing other significant milestones such as retirement, having a successful career, and more (see below): So, why is buying a home important to so many today? One reason is the financial and physical security...

Real Estate Still Holds the Title of Best Long-Term Investment

Written by Panama City Mortgage Mortgage Syndicated User on July 3, 2024. Posted in Buying Tips, For Buyers, Home Prices, Mortgage Panama City, Mortgage Rates, Panama City Mortgage.

With all the headlines circulating about home prices and mortgage rates, you may be asking yourself if it still makes sense to buy a home right now, or if it’s better to keep renting. Here’s some information that could help put your mind at ease by showing that investing in a home is still a powerful decision. According to the experts at Gallup, real estate has been crowned the top long-term investment for a whopping 12 years in a row. It has consistently beat out other investment types like gold, stocks, and bonds. Just take a look at the graph below – it speaks volumes: But why does real...

The Difference Between an Inspection and an Appraisal

Written by Panama City Mortgage Mortgage Syndicated User on June 28, 2024. Posted in Buying Tips, For Buyers, Mortgage Panama City, Panama City Mortgage.

When you decide to buy your first home, you may come across a number of terms and conditions you’re not familiar with. While you may have a general idea of what an inspection is, maybe you’re not sure why you need one or how it’s different from an appraisal. To keep it simple, here’s an explainer of each one and what they mean for you as a homebuyer. Home Inspection Once you’re under contract on a home you’d like to buy, getting an inspection is a key part of the process. An inspection gives you a clear idea of the safety and overall condition of the home – which is important for such a big...

Category: Buying Tips