CoreLogic’slatestHome Price Indexreportsthat home prices have appreciated by 6.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% 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
Freddie Mac’s Primary Mortgage Market Surveyshowsthat interest rates for a 30-year mortgage have remained around 4% over the last couple months.The Mortgage Bankers Association, Fannie Mae, Freddie Mac& theNational Association of Realtorsare in unison, projecting that rates will increase by at least a half a percentage point 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 are 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 build 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 if 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.
** 843-513-3741 Call or Text anytime to arrange a showing on your next HOME! 843-513-3741 **
Author:Jerod Coulter Phone: 843-513-3741 Dated: March 29th 2017 Views: 286 About Jerod: ...
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Working full-time in real estate allows Jerod to be accessible night or day for his clients. Both buyers and sellers have an acute appreciation for the time, energy, and complex marketing strategies he provides through an extensive network of personal contacts, media outlets, and dedicated professional marketing department. His strenuous work ethic and aggressive negotiating strategies are unparalleled. Holding a Bachelor of Science Degree in Finance & Economics with combined work experience in the investment banking industry, Jerod helps his clients accomplish their personal goals as well as financial expectations in real estate. Jerod takes great pride in his work and has a genuine interest in helping people. Whether you are buying your first home, purchasing a second home closer to the beach, investing in numerous income properties, or getting ready to sell the home of your dreams, he excels at assisting clients with goal setting, analyzing the data, and educating you to make the most informed decision possible.
-My business oriented background combined with a superior client focused level of service will undoubtedly help you achieve your dreams in the real estate market.
-The foundation of both my personal life and my business is God, Family, and Friends.
-I work out of the spectacular Mount Pleasant office conveniently located less than 4 miles from 526 and just minutes from Daniel Island. Stop by to visit, or call to schedule an appointment.
-Selling homes from Hollywood to Huger and everywhere in between!
-Relocating? No Problem! Call me at 843-513-3741. I am on the relocation team and will be happy to get you started.