Applying For a Mortgage? Here’s What You Should Avoid Once You Do.

Written by Miami Beach Condo Financing Syndicated User on December 29, 2022. Posted in Buying Myths, Condo Financing Miami Beach, First Time Home Buyers, For Buyers, Miami Beach Condo Financing.

While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just home-related purchases that could disqualify you from...

Confused About What’s Going on in the Housing Market? Lean on a Professional.

Written by Miami Beach Condo Financing Syndicated User on December 28, 2022. Posted in Buying Myths, Condo Financing Miami Beach, For Buyers, For Sellers, Miami Beach Condo Financing, Selling Myths.

If you’re thinking about buying or selling a home, you probably want to know what’s really happening with home prices, mortgage rates, housing supply, and more. That’s not an easy task considering how sensationalized headlines are today. Jay Thompson, Real Estate Industry Consultant, explains: “Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.” Unfortunately,...

Financial Fundamentals for First-Time Homebuyers

Written by Miami Beach Condo Financing Syndicated User on December 27, 2022. Posted in Buying Myths, Condo Financing Miami Beach, Down Payments, First Time Home Buyers, For Buyers, Miami Beach Condo Financing.

Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home. Build Your Credit Your credit is one element that helps determine which home loan you’ll qualify for. It also impacts your mortgage interest rate. While there are many factors that go into your mortgage application, a higher credit score could lead to a lower monthly payment in the long run. So how do you make sure your credit is in the best...

What Makes a House a Home?

Written by Miami Beach Condo Financing Syndicated User on December 23, 2022. Posted in Condo Financing Miami Beach, First Time Home Buyers, For Buyers, Miami Beach Condo Financing, Move-Up Buyers.

There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy. While the financial aspects of buying a home are important, the non-financial and emotional reasons are too. Home means something different to all of us. Whether it’s sharing memories with loved ones at the kitchen table or settling in to read a book in a favorite chair, the emotional connections to our homes can be just as important as the financial ones. Here are some of the things that make a house a home. 1. You Can Be Proud of Your Accomplishment Buying...

What To Expect From the Housing Market in 2023

Written by Miami Beach Condo Financing Syndicated User on December 22, 2022. Posted in Condo Financing Miami Beach, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Miami Beach Condo Financing, Pricing.

The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it’s put the market into a reset position. As the Federal Reserve (the Fed) made moves this year to try to lower inflation, mortgage rates more than doubled – something that’s never happened before in a calendar year. This had a cascading impact on buyer activity, the balance between supply and demand, and ultimately home prices. And as all those things changed, some buyers and sellers put their plans on hold and decided to wait until the market felt a bit more predictable. But...

Mortgage Rates Are Dropping. What Does That Mean for You?

Written by Miami Beach Condo Financing Syndicated User on December 20, 2022. Posted in Buying Myths, Condo Financing Miami Beach, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Miami Beach Condo Financing, Move-Up Buyers.

Mortgage rates have been a hot topic in the housing market over the past 12 months. Compared to the beginning of 2022, rates have risen dramatically. Now they’re dropping, and that has to do with everything happening in the economy. Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains it well by saying: “Mortgage rates dropped even further this week as two main factors affecting today’s mortgage market became more favorable. Inflation continued to ease while the Federal Reserve switched to a smaller interest rate hike. As a result,...

2023 Housing Market Forecast [INFOGRAPHIC]

Written by Miami Beach Condo Financing Syndicated User on December 17, 2022. Posted in Condo Financing Miami Beach, For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Miami Beach Condo Financing.

Some Highlights From home sales to prices, the 2023 housing market will be defined by mortgage rates. And where rates go depends on what happens with inflation. If you’re thinking of buying or selling a home this year, let’s connect so you understand where the housing market is headed in 2023. Sources: realtor.com Home Price Expectations Survey (HPES) National Association of Realtors (NAR) Mortgage Bankers Association (MBA) Fannie Mae Freddie Mac Zelman & Associates Greg McBride, Chief Financial Analyst, Bankrate Content previously posted on Keeping Current Matters

You May Have More Negotiation Power When You Buy a Home Today

Written by Miami Beach Condo Financing Syndicated User on December 15, 2022. Posted in Buying Myths, Condo Financing Miami Beach, First Time Home Buyers, For Buyers, Housing Market Updates, Miami Beach Condo Financing, Move-Up Buyers.

Did the frequency and intensity of bidding wars over the past two years make you put your home search on hold? If so, you should know the hyper competitive market has cooled this year as buyer demand has moderated and housing supply has grown. Those two factors combined mean you may see less competition from other buyers. And with less competition comes more opportunity. Here are two trends that may be the news you need to reenter the market. 1. The Return of Contingencies Over the last two years, more buyers were willing to skip important steps in the homebuying process, like the appraisal...

Homeownership Is an Investment in Your Future

Written by Miami Beach Condo Financing Syndicated User on December 9, 2022. Posted in Buying Myths, Condo Financing Miami Beach, First Time Home Buyers, For Buyers, Miami Beach Condo Financing, Move-Up Buyers, Rent vs. Buy.

There are many people thinking about buying a home, but with everything affecting the economy, some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out. As Bob Broeksmit, President and CEO of the Mortgage Bankers Association (MBA), explains: “The desire for homeownership is strong. Many prospective buyers are waiting for the volatility in mortgage rates to subside, as well as for a clearer picture of the economic outlook.” If you’re in that position, remember that it’s important to consider not just what’s happening today but also what benefits you may...

Key Advantages of Buying a Home Today

Written by Miami Beach Condo Financing Syndicated User on December 8, 2022. Posted in Buying Myths, Condo Financing Miami Beach, First Time Home Buyers, For Buyers, Housing Market Updates, Miami Beach Condo Financing, Move-Up Buyers.

There’s no doubt buying a home today is different than it was over the past couple of years, and the shift in the market has led to advantages for buyers today. Right now, there are specific reasons that make this housing market attractive for those who’ve thought about buying but have sidelined their search due to rising mortgage rates. Buying a home in any market is a personal decision, and the best way to make that decision is to educate yourself on the facts, not following sensationalized headlines in the news today. The reality is, headlines do more to terrify people thinking about buying...

Category: For Buyers