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Four Reasons To Buy Wenatchee Real Estate Before Winter
Dated: November 12 2014
Views: 1104
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 11.2%
(most pessimistic) and 27.8%
(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: “Households must consume housing whether they own
or rent. Not even accounting for more favorable tax treatment of owning,
homeowners pay debt service to pay down their own principal while households
that rent pay down the principal of a landlord plus a rate of return. That’s
yet another reason owning often does—as Americans intuit—end up making more
financial sense than renting.”
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.
Bottom Line
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. Find ever Wenatchee and North Central Washington Real Estate Listing http://www.ncwhomes.com/
Melissa Kiser
We are full time Realtors for over 27 years, we have successfully represented buyers, sellers and investors in the sale and purchase of thousands of properties. We believe our success can be attri....
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