What Homebuyers Need To Know About Credit Scores

Written by Panama City Mortgage Mortgage Syndicated User on December 14, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Infographics, Mortgage Panama City, Panama City Mortgage.

Some Highlights Data shows 7 out of 10 prospective homebuyers don’t know the minimum credit score required by lenders or that it varies by lender and loan type. According to Experian, the range is anywhere from 500 to 700 for the minimum credit score. That means you don’t need perfect credit to buy a home. Your credit score is important – but that doesn’t mean it needs to be perfect. Work with a lender to learn more about home loan options that may work for you.

The Top 2 Reasons To Look at Newly Built Homes

Written by Panama City Mortgage Mortgage Syndicated User on December 13, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Inventory, Mortgage Panama City, Panama City Mortgage.

When planning a move, a newly built home might not be the first thing that comes to mind. But with more brand-new homes on the market and builders focusing on smaller, more affordable options, this type of home may just be the key to crossing the homebuying finish line. Here’s why a new build is worth considering – and how an agent can help you find one that meets your needs and your budget. 1. More Newly Built Homes Are Available Right Now First, let’s break down the types of homes on the market. A newly built home is a house that was just built or is under construction. On the other...

Why Moving to a More Affordable Area Makes Sense

Written by Panama City Mortgage Mortgage Syndicated User on December 12, 2024. Posted in Affordability, Mortgage Panama City, Panama City Mortgage.

Moving to a more affordable area could be the fresh start you need to get ahead financially. While some markets are certainly more affordable than others, know that working with a trusted real estate agent to find what fits your budget and your desired location – no matter where you want to be – is always the best plan. And with the rising cost of living, many people are rethinking where they live and looking for ways to cut expenses. If that sounds like you, here’s a great place to start (see visual below): These states are well known for lower housing costs, reduced insurance premiums, and...

What Will It Take for Prices To Come Down?

Written by Panama City Mortgage Mortgage Syndicated User on December 11, 2024. Posted in Affordability, Home Prices, Inventory, Mortgage Panama City, Panama City Mortgage.

You may be wondering if home prices are going to crash. And believe it or not, some people might even be hoping this happens so they can finally purchase a more affordable home. But experts agree that’s not what’s in the cards – and here’s why. There are more people who want to buy a home than there are homes available to purchase. That’s what drives prices up. Let’s break that down and explore why, nationally, home prices aren’t going to be coming down anytime soon. Prices Depend on Supply and Demand The housing market works like any other market – when demand is high and...

Why More Sellers Are Hiring Real Estate Agents

Written by Panama City Mortgage Mortgage Syndicated User on December 10, 2024. Posted in Agent Value, For Sale by Owner, For Sellers, Mortgage Panama City, Panama City Mortgage, Selling Tips.

Putting your house for sale on your own – often called “For Sale by Owner” or FSBO – might be on your mind. But you should know that it gets complicated very quickly, especially in today’s complex market. That’s why data from the National Association of Realtors (NAR) shows a record low number are going the route of selling on their own. Instead, more and more homeowners are choosing to work with a real estate agent (see graph below): And here’s why partnering with an expert is the go-to choice. Selling your home is a big deal, and while FSBO might seem like a way to save time or money, it...

Why This Winter Is the Sweet Spot for Selling

Written by Panama City Mortgage Mortgage Syndicated User on December 7, 2024. Posted in For Sellers, Infographics, Inventory, Mortgage Panama City, Panama City Mortgage.

Some Highlights Thinking about selling your house? Here are a few reasons why you may want to do it this season. Buyers looking right now are serious about moving and the number of homes for sale is typically lower this time of year – helping your house stand out. While inventory is higher this year than it’s been in the last few winters, you’ll still be in this year’s sweet spot.

Why Owning a Home Is Worth It in the Long Run

Written by Panama City Mortgage Mortgage Syndicated User on December 6, 2024. Posted in Home Prices, Mortgage Panama City, Mortgage Rates, Panama City Mortgage.

Today’s mortgage rates and home prices may have you second-guessing whether it’s still a good idea to buy a home right now. While market factors are definitely important, there’s also a bigger picture to consider: the long-term benefits of homeownership. Think of it this way. If you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. That’s because over time, home values usually grow – and that means a homeowner’s net worth does too. Here’s a look at how that can really add up over the...

When Will Mortgage Rates Come Down?

Written by Panama City Mortgage Mortgage Syndicated User on December 5, 2024. Posted in Forecasts, Mortgage Panama City, Mortgage Rates, Panama City Mortgage.

One of the biggest questions on everyone’s minds right now is: when will mortgage rates come down? After several years of rising rates and a lot of bouncing around in 2024, we’re all eager for some relief. While no one can project where rates will go with complete accuracy or the exact timing, experts offer some insight into what we might see going into next year. Here’s what the latest forecasts show. Mortgage Rates Are Expected To Ease and Stabilize in 2025 After a lot of volatility and uncertainty, the most updated forecasts suggest rates will start to stabilize over the next year, and should...

Sell Your House During the Winter Sweet Spot

Written by Panama City Mortgage Mortgage Syndicated User on December 4, 2024. Posted in For Sellers, Mortgage Panama City, Panama City Mortgage, Selling Tips.

A lot of people assume spring is the ideal time to sell a house. And sure, buyer demand usually picks up at that time of year. But here’s the catch: so does your competition because a lot of people put their homes on the market at the same time. So, what’s the real advantage of selling your house before spring? It’ll stand out. Historically, the number of homes for sale tends to drop during the cooler months – and that means buyers have fewer options to choose from. You can see how that trend played out over the past few years in this data from the National Association of Realtors (NAR). Each...

Should You Sell Your House As-Is or Make Repairs?

Written by Panama City Mortgage Mortgage Syndicated User on December 3, 2024. Posted in For Sellers, Mortgage Panama City, Panama City Mortgage, Selling Tips.

A recent study from the National Association of Realtors (NAR) shows most sellers (61%) completed at least minor repairs when selling their house. But sometimes life gets in the way and that’s just not possible. Maybe that’s why, 39% of sellers chose to sell as-is instead (see chart below): If you’re feeling stressed because you don’t have the time, budget, or resources to tackle any repairs or updates, you may be tempted to sell your house as-is, too. But before you decide to go this route, here’s what you need to know. What Does Selling As-Is Really Mean? Selling as-is means you won’t make...

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