Here are four great reasons to consider buying a home today instead of waiting.
Prices Will Continue to Rise
CoreLogic’slatestHome Price Indexreports that home prices have appreciated by 6.6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.3% 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.
Mortgage Interest Rates Are Projected to Increase
Freddie Mac’sPrimary Mortgage Market Surveyshows that interest rates for a 30-year mortgage hovered close to 4.0% in 2017. Most experts predict that rates will rise over the next 12 months. TheMortgage Bankers Association, Fannie Mae, Freddie Macand theNational Association of Realtorsare in unison, projecting that rates will increase by nearly a full percentage point by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. Ayear from now, your housing expense will increase if a mortgage is necessary to buy your next home.
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 arepaying a mortgage–either yours or your landlord’s.
As an owner, your mortgage payment is a form of‘forced savings’that allows you to have 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?
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.
Author:Paolo Prieto Phone: 562-676-6560 Dated: March 12th 2018 Views: 291 About Paolo: ...
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For over 30 years, Scott has created award winning creative marketing campaigns for television stations across the country. He brings his sales marketing skills, social media knowledge and exceptional customer service to eXp Realty.
Scott was born and raised in Seattle, and has lived in Illinois, Texas, Florida, Virginia, Ohio and New York. But out of all those states he has called Southern California his home for over a decade.
Scott’s experience started in entertainment marketing, and for a few years he originated mortgage loans in Ohio. That is where he started to find how much real estate excited him. Because he has negotiated deals as a buyer and seller and has been a property manager of his own properties he understands your needs as a client. Scott’s exceptional customer service comes from intuition and how much he values each and every relationship.
Scott is excited to be a Realtor® with the innovative and esteemed brokerage firm eXp Realty. His honest communication with clientele and unique top-of-the-line marketing makes him one of the premiere agents to work with in Southern California.
For more information check out Scott’s website online (www.scottshambleyhomes.com).