Home Equity: A Source of Strength for Homeowners Today

Written by St. George Island Mortgage Mortgage Syndicated User on November 15, 2022. Posted in For Sellers, Foreclosures, Housing Market Updates, Mortgage St. George Island, St. George Island Mortgage.

Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says: “. . . don’t expect a housing bust like the mid-2000s, as lending standards in this housing cycle have been much tighter and homeowners have historically high levels of home equity, so there likely won’t be a surge in foreclosures.” Data from the Mortgage Bankers Association (MBA) helps tell this story. It shows the overall percentage of homeowners at risk is decreasing significantly with time...

3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008

Written by St. George Island Mortgage Mortgage Syndicated User on October 27, 2022. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage St. George Island, Pricing, St. George Island Mortgage.

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time. There’s Still a Shortage of Homes on the Market Today, Not a Surplus For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Supply...