The Best Time To Buy a Home This Year

Written by Bonita Springs Mortgage Syndicated User on September 16, 2024. Posted in Bonita Springs Condo Financing, Bonita Springs Mortgage, Buying Tips, For Buyers, Inventory, Mortgage Bonita Springs, Mortgage Rates.

A shift is underway in the housing market this season. And if you’ve been sitting on the sidelines waiting for the right moment to jump back into your homebuying search, this is a great time to do it. That’s because the best week to buy a home this year is just around the corner. Your sweet spot is here. The experts at Realtor.com study seasonal trends to figure out the ideal week for homebuyers:“Nationally, the best time to buy in 2024 is the week of Sept. 29–Oct. 5. This week historically has shown the best balance of market conditions that favor buyers. Inventory tends to be high, prices...

What To Know About Closing Costs

Written by Bonita Springs Mortgage Syndicated User on September 12, 2024. Posted in Bonita Springs Condo Financing, Bonita Springs Mortgage, Buying Tips, For Buyers, Mortgage Bonita Springs.

Now that you’ve decided to buy a home and are ready to make it happen, it’s a good idea to plan ahead for the costs that are a typical part of the homebuying process. And while your down payment is probably the number one expense on your mind, don’t forget about closing costs. Here’s what you need to know.What Are Closing Costs?Simply put, your closing costs are the additional fees and payments you have to make at closing. And while they’ll vary based on the price of the home and how it’s being financed, every buyer has these, so they shouldn’t be a surprise. It’s just that some people...

Why Pre-Approval Should Be at the Top of Your Homebuying To-Do List

Written by Bonita Springs Mortgage Syndicated User on September 10, 2024. Posted in Affordability, Bonita Springs Condo Financing, Bonita Springs Mortgage, Buying Tips, For Buyers, Mortgage Bonita Springs, Mortgage Rates.

Since the supply of homes for sale is growing and mortgage rates are coming down, you may be thinking it’s finally your moment to jump into the market. To make sure you’re ready, you need to get pre-approved for a mortgage. That’s when a lender looks at your finances, including things like your W-2, tax returns, credit score, and bank statements, to figure out what they’re willing to loan you. After that process, you’ll get a pre-approval letter to show what you can borrow. Here are two reasons why this is essential in today’s market.Pre-Approval Helps You Know Your NumbersWhile home affordability is...

The Latest on the Luxury Home Market

Written by Bonita Springs Mortgage Syndicated User on September 5, 2024. Posted in Bonita Springs Condo Financing, Bonita Springs Mortgage, Buying Tips, For Buyers, Luxury / Vacation, Mortgage Bonita Springs.

Luxury living is about more than just stunning views and cutting-edge smart home technology—it’s about elevating your lifestyle. And if you’re in the market for a million-dollar home, now is an excellent time to explore the thriving luxury market. Here’s why.The Number of Luxury Homes Is GrowingThe top of the market, or luxury homes, can mean different things depending on where you live. But in general, these are homes that are in the top 5% price range in any area. According to a recent report from Redfin, the average value of those homes has risen to over one million dollars:“The...

Could a 55+ Community Be Right for You?

Written by Bonita Springs Mortgage Syndicated User on September 2, 2024. Posted in Bonita Springs Condo Financing, Bonita Springs Mortgage, Buying Tips, For Buyers, Mortgage Bonita Springs.

If you’re thinking about downsizing, you may be hearing about 55+ communities and wondering if they’d be a good fit for you. Here’s some information that could help you make your decision.What Is a 55+ Community?It’s important to note that these communities aren’t just for people who need extra support – they can be pretty vibrant, too. Many people who are downsizing opt for this type of home because they’re looking to be surrounded by people in a similar season of life. U.S. News explains:“The terms ‘55-plus community,’ ‘active adult community,’ ‘lifestyle communities’ and ‘planned communities’...

Today’s Biggest Housing Market Myths

Written by Bonita Springs Mortgage Syndicated User on August 22, 2024. Posted in Bonita Springs Condo Financing, Bonita Springs Mortgage, Buying Tips, Economy, For Buyers, Mortgage Bonita Springs, Mortgage Rates.

Have you ever heard the phrase: don’t believe everything you hear? That’s especially true if you’re thinking about buying or selling a home in today’s housing market. There’s a lot of misinformation out there. And right now, making sure you have someone you can go to for trustworthy information is extra important.If you partner with a real estate agent, they can clear up some common misconceptions and reassure you by backing them up with research-driven facts. Here are just a few misconceptions they can help disprove.1. I’ll Get a Better Deal Once Prices CrashIf you’ve heard home prices are...

What Credit Score Do You Really Need To Buy a House?

Written by Bonita Springs Mortgage Syndicated User on August 15, 2024. Posted in Agent Value, Bonita Springs Condo Financing, Bonita Springs Mortgage, Buying Tips, First-Time Buyers, For Buyers, Mortgage Bonita Springs.

When you’re thinking about buying a home, your credit score is one of the biggest pieces of the puzzle. Think of it like your financial report card that lenders look at when trying to figure out if you qualify, and which home loan will work best for you. As the Mortgage Report says:“Good credit scores communicate to lenders that you have a track record for properly managing your debts. For this reason, the higher your score, the better your chances of qualifying for a mortgage.”The trouble is most buyers overestimate the minimum credit score they need to buy a home. According...

Why the Sandwich Generation Is Buying Multi-Generational Homes

Written by Bonita Springs Mortgage Syndicated User on August 1, 2024. Posted in Bonita Springs Condo Financing, Bonita Springs Mortgage, Buying Tips, For Buyers, Mortgage Bonita Springs.

Are you a part of the Sandwich Generation? According to Realtor.com, that’s a name for the roughly one in six Americans who take care of their children and their parents or grandparents at the same time.If that sounds familiar to you, juggling all the responsibilities involved certainly must have its challenges. But it turns out there’s one pretty significant benefit: it can actually make it a bit easier for you to buy a home.How Can It Help You Buy a Home?Realtor.com asked members of the Sandwich Generation if they agree or disagree that taking care of children and parents at the same time...

A Newly Built Home May Actually Be More Budget-Friendly

Written by Bonita Springs Mortgage Syndicated User on July 24, 2024. Posted in Bonita Springs Condo Financing, Bonita Springs Mortgage, Buying Tips, For Buyers, Home Prices, Mortgage Bonita Springs.

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 HomesThe median sales price for newly...

How Affordability and Remote Work Are Changing Where People Live

Written by Bonita Springs Mortgage Syndicated User on July 22, 2024. Posted in Affordability, Bonita Springs Condo Financing, Bonita Springs Mortgage, Buying Tips, For Buyers, Mortgage Bonita Springs.

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 AreaToday’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...

Category: Buying Tips