THE TIME TO BUY IS NOW
If you've been considering purchasing a new home, my research shows that putting off that decision any further could cost you.
Here are a couple of key reasons that you should consider buying a home sooner rather than later:
Housing prices are healthy and growing.
In fact, in 2016, prices increased 5.7 percent on average in the United States according to the U.S. House Price Index - January 2017 published on March 22, 2017, and they're expected to continue on that trajectory.
At this rate, a $200,000 home could cost you $211,400 next year and $223,450 in just two years.
Current interest rates are still low but are on the rise.
According to Freddie Mac, the average rate on a 30-year mortgage in 2015 was just 3.85 percent. If you had a $200,000 mortgage at this rate, your payment would have been $938 a month.
Fast forward to today... Again, according to Freddie Mac:
For the week ending March 23, 2017, a 30-year fixed-rate mortgage (FRM) averaged 4.23 percent.
At this rate, that 2015 $200,000 mortgage payment of $938 a month would now be $982, an increase of $44 per month.
If rates increase just 1% to 5.23 percent, your payment would be $1,102. That's a potential increase of $120 a month!
My commitment to supplying you with the relevant economic data you need is the key to finding your new home. Contact me today to begin your home search.