If you have been thinking about buying, here are 4 reasons to make the move and do it now:
Prices are going to rise.
Homes aren’t likely to get cheaper. According to data from CoreLogic, home prices have jumped 5.9 percent over the last year and are projected to continue to rise at a rate of 5.3 percent next year. In fact, home values are projected to climb more than 3.2 percent a year over the next five years.
Mortgage rates are low, for now.
Home buyers can save on their monthly mortgage costs. Borrowing costs have hit three-year lows recently, but they aren’t likely to stay there. The 30-year fixed-rate mortgage averaged 3.41 percent last week, getting close to its record low of 3.31 percent set in November 2012. That said, many economists are predicting that mortgage rates will begin to rise soon. Both NAR and the Mortgage Bankers Association project that rates will climb nearly a full percentage point by this time next year.
Renting is getting pricier.
Households that are paying rent instead of buying are often getting a worse deal. A paper from Harvard University’s Joint Center for Housing Studies says: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, home owners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”
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Author:Deborah Boyd Phone: 940-368-1306 Dated: July 12th 2016 Views: 3,224 About Deborah: My family has lived in North Texas for generations so I personally know the residential areas of Fri...
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
Our mission is to provide extraordinary services and exceed our clients’ expectations by always committing to the highest levels of professionalism, ethics and standards in the real estate industry.
JP and Associates REALTORS is a real estate company with a solid structure and foundation built around service and productivity. We believe in providing a fun and rewarding environment for all our REALTORS® and therefore always ready to support our REALTORs® Associates in any market and in any condition. All our REALTORs® will always strive to close more transactions in a given year than the average REALTOR®. Our goal is to recruit and retain the most professional, better trained REALTORs Associates in the local market.
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At JP And Associates REALTORS we strive to exceed our Clients AND our Associates expectations.
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