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AtCoastal Realty - The Morton Group Blog

Tuesday, January 16, 2024   /   by Todd Morton

Expert Quotes on the 2024 Housing Market Forecast

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market in 2024. In 2023, higher mortgage rates, confusion over home price headlines, and a lack of homes for sale created some challenges for buyers and sellers looking to make a move. But what’s on the horizon for the new year?

The good news is, many experts are optimistic we’ve turned a corner and are headed in a positive direction.

Mortgage Rates Expected To Ease

Recently, mortgage rates have started to come back down. This has offered hope to buyers dealing with affordability challenges. Mark Fleming, Chief Economist at First American, explains how they may continue to drop:

“Mortgage rates have already retreated from recent peaks near 8 percent and may fall further . . .”

Jessica Lautz, Deputy Chief Economist at the National Association of Realtors&nbs. ...

  virginia beach, home buying, first-time home buyer, housing market, housing supply, home selling, the morton group, virginia beach realtors, home prices, mortgage rates

Sunday, January 14, 2024   /   by Todd Morton

Why Pre-Approval Is Your Homebuying Game Changer

If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in your new living room or dining on your future all-season patio, be sure you’re working with a trusted lender to prioritize this essential step. Here’s why.

While home price growth is moderating and mortgage rates have been coming down in recent weeks, affordability is still tight.  At the same time, there’s a limited number of homes for sale right now, and that means ongoing competition among hopeful buyers. But, if you’re strategic, there are ways to navigate these waters – and pre-approval is the game changer.

What Pre-Approval Does for You

To understand why it’s such an important step, you need to know more about pre-approval. As part of the homebuying process, a lender looks at your finances to determine what they&rs. ...

  virginia beach, home buying, first-time home buyer, the morton group, virginia beach realtors, mortgage rates, mortgage, mortgage approval

Friday, January 12, 2024   /   by Todd Morton

Home Prices Forecast To Climb over the Next 5 Years [INFOGRAPHIC]

Some Highlights


If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028.



Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in equity over the next five years.



If you're worried about falling home prices, don't be. Many experts forecast they'll keep rising for years to come. If you have questions, let’s connect. ...

  virginia beach, home buying, first-time home buyer, housing market, housing supply, the morton group, virginia beach realtors, home prices, infographic

AtCoastal Realty - The Morton Group
Todd Morton
582 Lynnhaven Pkwy STE 400
Virginia Beach, VA 23452
757-589-7628
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Shannon Hodges
600 Lynnhaven Parkway Suite 100
Virginia Beach VA 23452
757-553-1643

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