As the temperature in many areas of the country starts to cool down, you might think that the housing market will do the same. This couldn’t be further from the truth! Here are 4 reasons you should consider buying your dream home this winter instead of waiting for spring!
1. Prices Will Continue to Rise
CoreLogic’slatestHome Price Indexreports that home prices have appreciated by 6.3% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.
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
Your monthly housing cost is as much related to the price you pay for your home as it is to the mortgage interest rate you secure.
Freddie Mac’s Primary Mortgage MarketSurveyshows that interest rates for a 30-year mortgage are currently at 4.08%. TheMortgage Bankers Association, Fannie Mae, Freddie Mac& theNational Association of Realtorsare 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 expense will increase if a mortgage is necessary to buy your next home.
3. Either Way You’re Paying a Mortgage
There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage -either yours or your landlord’s.
As an owner, your mortgage payment is a form of‘forced savings’that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.
Are you ready to put your housing cost to work for you?
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.
If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.
Author:Future Client Phone: 480-838-9613 Dated: December 14th 2016 Views: 181 About Future: ...
Solutions Real Estate has the Solution to all of your Arizona Real Estate needs. Veteran owned company based in Gilbert, Arizona with several offices throughout the Phoenix Metropolitan area. Currently expanding in southern California in the San Diego market.
"I have worked with several realtors but none with the passion and drive that Adriana Klink has. Adriana made me feel comfortable and excited about my listing. She thought out of the box and came up with refreshing ideas other relators had not thought of to get my house more exposure. Adriana went above and beyond to become my home's advocate. She did not stop when meeting opposition from the HOA, it only made her more persistent.
Adriana eagerly looked for opportunities to introduce my home to potential clients whenever she could. Rather than sending an email and hoping it would lead to something, Adriana traveled to communities near and far to create relationships with other agencies.
Adriana kept me well informed throughout the time as my agent. Copies of documents I signed were also sent for my records and she followed up on any leads or visit to receive feedback.
I would recommend Adriana to anyone looking for a Realtor that will go above and beyond! She will not only represent your home, she will make you feel informed, comfortable and confident!