Now is the time! There are some big reasons to go for it and buy this spring.
1. Rising Prices
CoreLogic’s current Home Price Index reports appreciation of 6.9% in the last 12 months on home prices. This report goes on to advise that a 4.8% price increase during the next year will occur, giving buyers a good reason to buy this spring.
Waiting doesn’t make sense anymore. Rock bottom home prices have come and gone.
2. Increasing Mortgage Interest Rates
In Freddie Mac’s Primary Mortgage Market Survey shows that the last couple months mortgage interest rates for a 30-year mortgage have remained near 4%. It is the prediction of The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors that interest rates will be increasing at least a half a percentage point by next year.
Monthly mortgage payments will be increased and if you need a mortgage to purchase your next home this will definitely raise your housing expense.
3. You Are Going to Pay a Mortgage Either Way
Renters need to decide if they want to pay their landlords mortgage or their own. Purchasing a home is an uncomfortable thought for some renters but at least then you are investing for yourself and your future.
Owning a home allows you to build equity that you can use later on in life. Think of a mortgage as a way of forcing you to save for your future. Renting gives your landlord the equity.
4. Focus On The Future
Both the cost of a house and the mortgage rate for that house are on the rise. Take advantage of what today’s rates offer.
If mortgage rates weren’t rising would you wait? Evaluate why you are buying. Is it for a wonderful place to raise a family, a safer location, more room, maybe a change of scenery?
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.
Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.
In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.
As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.
We are a full service brokerage with discounted commissions. We offer no long term listing contracts, a Performance Guarantee, Smart Seller Program and a Communication Guarantee. Contact us today and let us provide you with the very best real estate experience.