Don't Wait To Buy Your New Tooele Home
Don't wait to buy your new Tooele home.
My friends over @ KCM published this article about buying now instead of waiting till winter is over, and it it makes good sense. I wanted to share their 4 good reasons in case you were on the fence and did not know what to do.
A lot of home buyers are like bears during the winter and think they should hibernate until the weather warms up to make that big decision on a new house.
All I can say is, that's when the competition is back (they play like bears too), and with competition we all know comes higher prices.
Here is what KCM has to say.
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 Rise
The 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 10.5% (most pessimistic) and 25.5% (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:
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.
Still not convinced? Undecided? Then we need to talk.
There are some fantastic listings in Tooele County. Take a look at some and realize that they may not be available next year, and certainly not at that price........ Plus.....
The way folks think interest rates are heading, the monthly payment could price you out of the market.
Don't wait to buy your new Tooele home, call me Berna Sloan 435-840-5029. TODAY. Let's do this.
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