Expert Home Price Forecasts Revised Up for 2023

Written by St. Augustine Mortgage Syndicated User on September 5, 2023. Posted in Housing Market Updates, Pricing, St. Augustine, St. Augustine Mortgage.

Toward the end of last year, there were a number of headlines saying home prices were going to fall substantially in 2023. That led to a lot of fear and questions about whether there was going to be a repeat of the housing crash that happened back in 2008. But the headlines got it wrong.While there was a slight home price correction after the sky-high price appreciation during the ‘unicorn’ years, nationally, home prices didn’t come crashing down. If anything, prices were a lot more resilient than many people expected.Let’s take a look at some of the expert forecasts from late last year...

Why It’s Still a Seller’s Market Today

Written by St. Augustine Mortgage Syndicated User on September 4, 2023. Posted in For Sellers, Housing Market Updates, Selling Myths, St. Augustine, St. Augustine Mortgage.

Even though activity in the housing market has slowed from the frenzy that was the ‘unicorn’ years, it’s still a seller’s market because the supply of homes for sale is so low. But what does that really mean for you? And why are conditions today so good if you want to sell your house?The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Housing inventory is measured by the number of available homes on the market. It’s also measured by months’ supply, meaning the number of months it would take to sell all those available...

Homeowners Have a Lot of Equity Right Now [INFOGRAPHIC]

Written by St. Augustine Mortgage Syndicated User on September 1, 2023. Posted in For Sellers, Housing Market Updates, Infographics, St. Augustine, St. Augustine Mortgage.

Some HighlightsYour equity grows as you pay down your home loan and as home prices increase. With home prices rising again, your equity is getting an extra boost.Almost half of homeowners are equity rich because they have at least 50% equity in their homes. If you’ve been in your home for a while, you might have gained a considerable amount of equity, too.Want to find out how much equity you have? Connect with a trusted real estate agent for a Professional Equity Assessment Report (PEAR).

How Inflation Affects the Housing Market

Written by St. Augustine Mortgage Syndicated User on August 31, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, St. Augustine, St. Augustine Mortgage.

Have you ever wondered how inflation impacts the housing market? Believe it or not, they’re connected. Whenever there are changes to one, both are affected. Here’s a high-level overview of the connection between the two.The Relationship Between Housing Inflation and Overall InflationShelter inflation is the measure of price growth specific to housing. It comes from a survey of renters and homeowners that’s done by the Bureau of Labor Statistics (BLS). The survey asks renters how much they’re paying in rent, and homeowners how much they’d rent their homes for, if they weren’t living in them.Much...

St. Augustine Film Festival

Written by St. Augustine Mortgage Syndicated User on August 31, 2023. Posted in City Blog, Community, St. Augustine, St. Augustine Festivals, St. Augustine Mortgage, Things to Do, What to Do.

Mark Your Calendar Date: January 11-14, 2024 Time: Various times Location: Lewis Auditorium Gamache-Koger Theater (AKA the Ringhaver Student Center) Alcazar Room at Lightner Museum Visit The Wesbite Get Directions Lewis Auditorium 14 Granada St, St. Augustine, FL 32084 Ringhaver Student Center 50 Sevilla St, St. Augustine, FL 32084 Lightner Museum 75 King St, St. Augustine, FL 32084 About the Saint Augustine Film Festival Celebrating their 13th year in 2024, the Saint Augustine Film Festival is an outstanding variety of foreign and independent films and documentaries; more than 50 independent...

StAugAlerts

Written by St. Augustine Mortgage Syndicated User on August 31, 2023. Posted in St. Augustine, St. Augustine Mortgage.

Learn how to subscribe to City of St. Augustine Emergency Alerts text notifications.

Buyer Traffic Is Still Stronger than the Norm

Written by St. Augustine Mortgage Syndicated User on August 30, 2023. Posted in Demographics, For Sellers, Housing Market Updates, Selling Myths, St. Augustine, St. Augustine Mortgage.

Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it.The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of...

Hurricane Idalia

Written by St. Augustine Mortgage Syndicated User on August 30, 2023. Posted in St. Augustine, St. Augustine Mortgage.

Information related to City operations and response to Tropical Storm Idalia

Why You May Still Want To Sell Your House After All

Written by St. Augustine Mortgage Syndicated User on August 29, 2023. Posted in Demographics, For Sellers, Selling Myths, St. Augustine, St. Augustine Mortgage.

Even though you may feel reluctant to sell your house because you don’t want to take on a mortgage rate that’s higher than the one you have now, there’s more to consider. While the financial side of things does matter, your personal needs may actually matter just as much. As an article from Bankrate says:“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market.”So, ask yourself this: why did I want to move in the first place?Chances are your...

Gen Z: The Next Generation Is Making Moves in the Housing Market

Written by St. Augustine Mortgage Syndicated User on August 28, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, St. Augustine, St. Augustine Mortgage.

Generation Z (Gen Z) is eager to put down their own roots and achieve financial independence. As a result, they’re turning to homeownership. According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), 30% of Gen Z buyers transitioned straight from living under their parents’ roofs to owning their own homes.If you’re a member of this generation, and you’re interested in pursuing your own dream of homeownership, here’s some information you may find helpful on why and where your peers are buying.The Reasons Gen Z Want To Become...

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