More Homes to Choose From, but Your Payment Still Comes First
By Steve Van Gorden, Broker/Owner, SVG Realty LLC |
More choices can feel like good news, and it is. But more choices don’t make the monthly payment disappear.
A little more selection
The National Association of REALTORS® reported that September existing-home sales rose 1.5% from August. Inventory reached 1.60 million homes, equal to a 4.8-month supply. Sales in the South rose 2.8% for the month. Those are national and regional numbers, not a Pasco or Hernando County market report, but they point to a market where buyers may have more room to compare and sellers need to compete carefully.
At the same time, Freddie Mac reported that the average 30-year fixed mortgage rate was 7.32% on October 22, down slightly from 7.40% the week before. That small move helps, but the payment still needs to work for your household.
Buy the payment, not just the price
If you’re buying in Dade City, Wesley Chapel, Brooksville, Spring Hill or elsewhere on Florida’s Nature Coast, start with the monthly number. Ask a lender for a current quote based on your credit, down payment and loan type. Then add property taxes, homeowners insurance, flood coverage when applicable, association fees and maintenance. A lower asking price doesn’t always mean a lower total cost.
Sellers need a local plan
If you’re selling, more inventory means preparation and pricing matter. Look at the most comparable recent sales, not a national headline. Make the home easy to see, address obvious maintenance issues and decide in advance how you’ll respond to repair or closing-cost requests. The first goal is to earn serious attention from the right buyers.
Your next move should fit your life
For anyone downsizing or rightsizing, compare the whole lifestyle cost. A smaller home may reduce upkeep, but insurance, association fees and location can change the calculation.
I don’t think buyers or sellers need to guess their way through this market. At SVG Realty, we’ll look at the local options, your timing and the numbers that actually affect your next move. Call 352-206-4196 or start a conversation with the SVG associate you choose.