March 17, 2014 10:39 am
Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying.
1. Competition is about to Increase
Every spring a surge of prospective purchasers enter the housing market. Like you, they will want the best home
available in the best location
at the best price
. They will be competing with you for the ‘steals’ in the market. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy available today that no longer be available as the market heats up..
2. Price Increases Are on the Horizon
Nationally, home prices are projected to appreciate
by 4.5% in 2014 and by over 19% from now until 2018. First home buyers will probably pay more both in price and interest rate if they wait until the spring. Even if you are a move-up buyer, it will wind-up costing you more in net dollars as the home you will buy will appreciate at approximately the same rate as the house you are in now.
March 13, 2014 10:12 am
The KCM Crew welcomes back Nikki Buckelew as our guest contributor today.
Congratulations! You received a “come list me”
call from one of your mailings and have just scheduled a new listing appointment!
The home is located in a highly sought after part of town where the property values have steadily increased and homes are selling quickly. The homeowner tells you that the home is free-and-clear and that she is moving to another state to live with her daughter. You are already thinking to yourself, “Why can’t they all be this easy?”
March 12, 2014 10:03 am
released their Rent vs. Buy Report
last week. The report explained that homeownership remains cheaper than renting in all of the 100 largest metro areas by an average of 38%!
The other interesting findings in the report include:
- Even though prices increased sharply in many markets over the past year, low mortgage rates have kept homeownership from becoming more expensive than renting.
- Some markets might tip in favor of renting this year as prices continue to rise faster than rents and if – as most economists expect – mortgage rates rise, due both to the strengthening economy and Fed tapering.
- Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.