Last week, Forbes published an article titled "Buy a home Now or Pay More Later" I thought I would share their insight to potential buyers considering buying now or waiting until later. If you have any questions, please let me know. I am here to help you with any of your real estate questions.
With mortgage rates creeping up toward 5% as 2013 draws to a close, potential home buyers have some decisions to make — and soon. The danger for potential home buyers isn’t that mortgage rates are nearing 5.00%; the real threat is that rates could go higher, to 5.50% or even 6.00% in 2014.”The article spells out the financials consequences a buyer would face by waiting. ($67,746 on a $300,000 mortgage). They gone on to identify four things a buyer should take into consideration before delaying a decision to purchase.
Rates will likely rise — and soon with 5% interest rates right around the corner.
The Federal Reserve will stop “tapering” causing rates to return to historically normal levels (6-7%).
Home values are rising
The autumn buying season is underrated “as you can take advantage of year-end tax breaks and the fall weather makes it an ideal time to move”.
These days there seems to be more and more fraud coming about. P
"I had the good fortune of working with Elena to find a home in a tough, tough market.
Elena very quickly grasped what my partner and I were looking for, and was able to find houses that were right up our alley. The market made offers and transactions real work; Elena was undaunted. She refused to let us get discouraged, and battled through obstacles to snag us a sweet, charming place to hang our hats!
She stuck through even after the deal closed, when some small issues arose... which we could not address as we were out of town.
This woman gets it done!"