It's that time of year, the seasons are changing and with them bring thoughts of the upcoming holidays, family get togethers, and planning for a new year. Those who are on the fence about whether now is the right time to buy don't have to look much farther to find four great reasons to consider buying a home now, instead of waiting. 1. Prices Will Continue to RiseThe Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report released recently projects appreciation in home values over the next five years to be between 11.2% (most pessimistic) and 27.8% (most optimistic).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 Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise later this year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of next year.An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home. 3. Either Way You are Paying a Mortgage. As a recent paper from the Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners 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.”
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 whether 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 it is 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.
Author:Sherry Cabrera Phone: 214-454-6969 Dated: October 4th 2014 Views: 1,049 About Sherry: Sherry was raised in Mississippi and moved to Dallas 16 years ago with her daughter. Prior to movin...
Recently there has been a lot of talk about home prices and if they ar
"have bought and sold a lot of homes in the past twenty years and have worked with many realtors. Kellye Demski has by far been the best agent I have ever worked with! Kellye has helped me both as a buyer and as a seller and she was exceptional at both. As a buyer, she took the time to find out what I really wanted, asked the right questions and did her research. In less than a month, she had me in the house of my dreams at far below market value. She took care of everything and it was one of the easiest transaction I’ve ever experienced. When it came time to sell, Kellye was the one I called. I was confident in her abilities to price my house and get the traffic it needed to sell, but I was blown away by how much time she took to help stage the house and how amazing the photos turned out. We had multiple offers, but Kellye did not pressure me to accept an offer until I found the right buyer. Again, she took care of everything and the transaction was so easy I could hardly believe it.
Kellye is knowledgeable, professional and honest. She’s extremely proactive and responsive without being pushy. She knows the right people and how to get things done, but most importantly, she truly cares about her clients and takes the time to get to know them and their needs. I highly recommend Kellye as an agent and will definitely work with her again in the future. "