Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five reasons purchasers should consider buying before the spring market arrives:
Supply Is Shrinking
With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.
Price Increases Are on the Horizon
Prices are projected to appreciate by over 25% from now to 2018. First home buyers will probably pay more both in price and interest rate if they wait until the spring. Even if you are a move-up buyer, it will wind-up costing you more in net dollars as the home you will buy will appreciate at approximately the same rate as the house you are in now.
Owning a Home Helps Create Family Wealth
Whether you are rent or you own the home you are living in, you are paying a mortgage. Either you are paying your mortgage or your landlord’s. The Fed, in a recent study, revealed that the net worth of the average homeowner is 30 times greater than that of a renter.
Interest Rates Are Projected to Rise
The Mortgage Bankers Association, the National Association of Realtors, Freddie Macand Fannie Mae have all projected that the 30-year mortgage interest rate will be over 5% by the this time next year. That is an increase of almost one full point over current rates.
Buy Low, Sell High
We would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Today, real estate is selling ‘low’ compared to where it will be next year. It’s time to buy. CONTACT COURTNEY RAMIREZ FOR YOUR REAL ESTATE NEEDS 520-252-9640. Here are beautiful homes for sale in Pinal and Maricopa County
We often discuss the difference in family wealth between hom
"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.
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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.
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