Mortgage Amounts Surge to Record Highs ☘ Hoey Team ☘ exp Realty 🌴 Southwest Florida 🌴

Dated: December 5 2020

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Home buyers are taking on bigger mortgages as they compete in a fierce housing market and face higher home prices.

Realtor Magazine 2020 12 05 Mortgage Amounts Surge to Record Highs since the begining of the plandemic after going through the COVID-19 Coronavirus pandemic Hoey Team exp Realty

The average home purchase loan amount reached $375,000 last week, according to the Mortgage Bankers Association. That represents the highest average home mortgage since the MBA began the survey in 1990.

Tight housing inventories across the country mixed with strong buyer demand are causing home prices to quickly appreciate. The National Association of REALTORS® reported that in October the median existing-home price for all housing types jumped 15.5% year-over-year to $313,000.

In general, financial analysts recommend that monthly housing costs should not exceed 30% of take-home pay. Those monthly housing costs should include more than just the mortgage payment too, but also property taxes, homeowners insurance costs, private mortgage insurance (if applicable), and homeowner association fees. For example, The Motley Fool says that if a household earns $3,000 a month after taxes that would then give them $900 to spend on their monthly mortgage payment and those additional housing expenses.

Recent record-low mortgage rates are helping somewhat with housing affordability. Some homeowners may be able to save hundreds of dollars per month by refinancing. Read more: Record Number of Homeowners Stand to Lower Mortgage Payments

Here in Southwest Florida 🌴 especially as people continue to move / relocate to the area from other parts of the US, inventory remains low overall, but we do continue to list and sell homes; both Single family, and Condo type.  We have also seen an uptake in people planning ahead, and buying that second home now, rather than waitiang as they were planning to do.  Low interest rates are probably helping with this additionally.  Low inventory is the greatest chalenge for buyers.

At our Real Estate Team; Hoey Team ☘ we have been succesfully working 100% virtually / remotely for the past number of years as we continue to grow; i'm glad we already had systems in place to better help sellers and buyer with goal posts continually moving in our industry.

Article content from our NAR (National Association of REALTORS) Newsletter Magazine, and from other sources including Hoey Team ☘ exp Realty and from Freddie Mac

For those Living in or Visiting Southwest Florida wanting additional resources, or a list of places to see / visit:   www.VisitCollier.Com      Feel free to share this resource page with others  🌴

NOTE for Buyers and Sellers: On our Hoey Team â˜˜ VIRTUAL OPEN HOUSE Page you may WATCH ? Detailed HD 3D Immersive VIDEO ? Walkthrough Tours for all our COMING to MLS & AVAILABLE LISTINGS right HERE: ? www.SWFLVRE.com  ? 

For more Real Estate related information, or if you have questions on any aspect of Buying, Selling, Upsizing, Downsizing, Moving within or Relocating to or from Florida (the number 1 state for people to move to), or on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can help, we can address / answer your questions, and we are always available to help you or someone you know.

P.S. --> If You'd like for us to create a Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details https://HoeyTeam.239RealEstateDeals.Com

CLICK HERE to Visit our High Definition Virtual 3D Open House Tours Page 24/7

Click Here for our most recent Market update Report for Southwest Florida and beyond.

We do not discriminate on price, we help homeowners and renters in all price ranges; Click Here for more information on the Hoey Team ☘ and what we do to help or visit HoeyTeam.Net anytime.

Here is our informational Southwest Florida Website ☘

Barry is a CLHMS; Click Here to see how we help with higher end properties.

Please visit our Hoey Team ☘ Luxury Home Market Page by Clicking Here

Best Places to Retire? 13 of the ‘Top 25’ Are in Fla â˜˜ Hoey Team â˜˜ exp Realty ðŸŒ´ Southwest Florida ðŸŒ´

Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website.  â˜˜

We hope that you find the information useful.  If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team â˜˜ brokered by eXp Realty

Email us at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call/Text the Hoey Team ☘ at:  (239)-360-5527 

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Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can. 

Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats.  Thanks, Barry & Kim â˜˜

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Barry & Kim, Hoey Team 🍀 239RealEstateDeals.Com LLC ☘

"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....

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