2 Need To Know Facts About Our Current Real Estate Market

2 Need To Know Facts About Our Current Real Estate Market

1.       Lack of inventory- This is a GREAT time to sell while properties are going for top dollar right now due to the lack of inventory. This is also the reason we are seeing builders popping up new subdivisions all around us. Interesting thing is, the lack of inventory is mostly in the $115,000- $250,000 price range which does not really match up with all these builders starting in the high 200's- 300's. The logic behind this- seasoned homeowners like yourselves can build or find a new home for a very reasonable price while selling their current property for top-dollar to first time home buyers or folks looking to down-size. Are you thinking you don't want to sell because you are comfortable with where your current monthly mortgage payment is? Great, I understand but what if I told you fact #2 may help you get more house for you money.  

2.       Low interest rates- Right now is the time to buy due to interest rates still being so low. A lower interest rate means more of each monthly payment goes towards your principle, the actual loan amount, and less is being thrown away on the interest of your loan. Let me clarify with an example; about ten years ago an average interest rate was about 8%. Let’s say you bought a house for $150,000, to keep it simple we will say you put no money down and got a 30 year fixed interest rate of 8%. Today interest rates are floating around 4.25%, meaning if you qualify for the 4.25% you can now buy a house for about $225,000 and still keep your mortgage payment where it has been for the last ten years.  That is a $75,000 difference. Just think about the difference 75k can make in a new house: more space, a newer home, different location, have a pool or other desired upgrades or maybe a new home with all of these. Not to mention, the proceeds you will probably get from selling your current home. That’s money in your pocket to pay off other debts, put towards a down payment to lower your new house mortgage payment even more or to just do whatever you want with.  My point is, with interest rates still low and the market being as hot as it is right now you need to take advantage, it would be crazy not to.

Worried you can’t get an interest rate that low? Scared your credit isn’t good enough to buy a house? Reach out to me anyways and I’ll get my preferred loan officer in contact with you. He has been in the business for a long time and really knows his stuff. So you may just be surprised at what you can get.

Interested in what your current property may be worth? Contact me, I'm more than happy to offer you a complimentary CMA (Comparative Market Analyst)

Tori Cecil -REALTOR
JP & Associates Realtors
Phone (972)795-9724
[email protected]
RealEstateByTori.com  

Note: Texas Law requires all real estate licensees to give the following information about brokerage services: http://www.trec.state.tx.us/pdf/contracts/OP-K.pdf


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Phone: 817-915-2872
Dated: June 4th 2014
Views: 2,097
About Kevin: Kevin Taylor is a native Texan who grew up in West Fort Worth. He was very involved with volunteeri...

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JP And Associates REALTORS
6136 Frisco Sq Blvd, #200
Frisco, TX
972-375-9448
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