Category: For Buyers

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Don’t Expect a Flood of Foreclosures

Written by Ponte Vedra Beach Mortgage Syndicated User on August 26, 2023. Posted in Buying Myths, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Selling Myths.

The rising cost of just about everything from groceries to gas right now is leading to speculation that more people won’t be able to afford their mortgage payments. And that’s creating concern that a lot of foreclosures are on the horizon. While it’s true that foreclosure filings have gone up a bit compared to last year, experts say a flood of foreclosures isn’t coming.Take it from Bill McBride of Calculated Risk. McBride is an expert on the housing market, and after closely following the data and market environment leading up to the crash, he was able to see the foreclosures coming in...

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People Want Less Expensive Homes – And Builders Are Responding

Written by Ponte Vedra Beach Mortgage Syndicated User on August 26, 2023. Posted in For Buyers, Housing Market Updates, Interest Rates, Pricing.

In today’s housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low inventory. To overcome those challenges, many people are working with their agents to find less expensive homes. And with newly built homes making up a historically large percentage of the total available inventory today, that search often includes brand new homes.People Are Spending Less on Newly Built HomesThe graph below uses the latest information from the Census to show, in June, more of...

Where Are People Moving Today and Why?

Written by Ponte Vedra Beach Mortgage Syndicated User on August 26, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers.

Plenty of people are still moving these days. And if you’re thinking of making a move yourself, you may be considering the inventory and affordability challenges in the housing market and wondering what you can do to help offset those. A new report from Gravy Analytics provides insight into where people are searching for homes and what they’re prioritizing most right now. That information could help you plan your own move.1. People Are Moving to Cities with Lower Housing CostsOne big factor motivating where buyers are going is affordability and that’s no big surprise. People are relocating...