Pre-ApprovaL:YOUR 1st Step In Buying A HomeIn many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to
Four Reasons To Buy A Home This Fall
Here are four great reasons to consider buying a home today instead of waiting.
1. Prices Will Continue to Rising
CoreLogic’s latest Home Price Index reports that home prices have appreciated by 5.7% over the last12 months. The same report predicts that prices will continue to increase at a rate of 5.3% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists,investment strategists, and housing market analysts. Their most recent report projects home values to appreciate by more than 3.5% a year for the next 5 years.
The bottom in home prices has come and gone. Home values will continue to appreciate for years.Waiting no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4%. Most experts predict that they will begin to rise over the next 12 months.The Mortgage Bankers Association, Freddie Mac & the National Association of Realtors are in unison,projecting that rates will increase by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expenses will increase if a mortgage is necessary to buy your next home.
3. Either Way You are Paying a Mortgage
As a paper from the Joint Center for Housing Studies at Harvard University explains:
“Households must consume housing whether they own or rent. Not even accounting for the more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”
4. It’s Time to Move On with Your Life
The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
But what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.
Call me today and let's discuss how I can help you save $1000s when you buy, invest, or sell rel estate.
Your local Real Estate Professional in Denver Metro and Suburbs.
Buying or selling a house can be an overwhelming and daunting process. Will my home sell? How much can I get for it? What can I afford to buy? All questions that need to be answered by a reliable and ....
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