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Hey folks, today I want to talk to you about one of the questions I am asked the most: "Is now the best time to buy a home?"
When it comes time to decide whether you should buy a home or not, it depends on your personal situation. But I can tell you this: the experts say yes. We know that interest rates will continue to rise. Just this last week, Federal Reserve Chairwoman Janet Yellen said in a recent address that the rate hike will come gradually, and interest rates will start to creep up come September.
When you do decide to purchase a home, you are going to have to pay a mortgage no matter what. With prices and interest rates continuing to rise, wouldn't it make more sense to pay the mortgage at a lower interest rate, like one that you could lock in now?
I have access to a database of real estate information that’s not widely available to the public. Over at Keeping Current Matters, they have just recently released their Spring Report, and it looks like the experts agree now is the time to make your move. Here’s why:
- Prices will continue to rise.
- Mortgage interest rates are projected to increase.
- Either way you are paying a mortgage.
- It’s time to move on with your life.
When buying a home, you need to concern yourself with the long-term cost of a home, not just the price tag of a home. This means you need to look deeper than the purchase price if you want to make a profitable decision.
If interest rates rise even slightly, as they are projected to by the end of the year, your purchasing power will take a hit. In other words, if you wait, you could be paying a whole lot more money for less home.
We’re coming to an end of a long stretch of favorable market conditions. Like all good things, low rates and rapid home appreciation must come to an end. The experts seem to agree that 2015 will be the last stellar year before the market really starts to normalize.
I would hate for you to hesitate, and miss out on once-in-a-lifetime conditions as a result, if your on the fence about buying or selling.
If you would like to talk it over, I’m always available to chat. You don’t have to worry about contracts or obligations of any sort. Feel free to call or email any time.
