Today’s real estate market is one of the fastest-moving in recent memory. With record-low inventory in many market segments, we’re seeing multiple offers—and sometimes even bidding wars—for
Renting Vs Buying
Dated: June 29 2016
4 Reasons to Move Up to Your Dream Home This Spring
by The KCM Crew on May 9, 2016
Spring is in full force; the summer months are rightaround the corner.
If you are debating moving up toyour dream home, here are four great reasons toconsider listing your current home and moving up toyour dream home now, instead of waiting.
1. Buyer Demand is High & Inventory is Low.
Recent numbers show that buyer demand is at thehighest peak experienced in years, and inventory forsale is at a 4.5 month supply, which is still markedlylower than the 6 months needed for a historicallynormal market.Demand in many markets is far exceeding the supply,and more properties in March sold in less than 30days (42%) than in any month since last July.Listing your home today can greatly increaseexposure to buyers who are out in force and ready toact.
2. Prices Will Continue to Rise.
CoreLogic recently released their latest Home Price Index in which they predict that national home values will appreciate by 5.3% by this timenext year.The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting for your current home’s value toincrease before selling could price you out of your new home if you aren’t careful.
3. Mortgage Interest Rates Are Still Near Record Lows.
Interest rates have remained below 4% for some time now and are substantially lower than the rate previous generations paid when getting amortgage.The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison projecting that rates will riseover the next 12 months.An increase in rates will impact YOUR monthly mortgage payment. Even an increase of half a percentage point can put a dent in your family’snet worth. Whether you are moving up or buying your first home, your housing expense will be more a year from now if a mortgage is necessaryto purchase your home.
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 onthe 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. Have you always wanted to live in a certain neighborhood?Would a climate change be just what the doctor ordered? Would you like to be closer to your family?Bottom Line: If the right thing for you and your family is to move up to the home of your dreams this year, buying sooner rather than later could lead tosubstantial savings.
Please let me know if I can answer any questions or get you in touch with a reputable lender.
Sonia Comisarenco ~ REALTOR®~ Team Price Real Estate
We Introduce Buyers to Sellers
PH ~ 512-577-5208
Email ~ firstname.lastname@example.org
Website ~ sonia.buyinginaustin.com
Sonia was born in Argentina and has lived in the US since 1980 and in Austin since 2001. Besides being fully bilingual (English-Spanish), Sonia has made it her mission to gain extensive familiarity wi....