Now is a great time to buy and/or to sell real estate. Real Estate moves in all types of economic conditions.
WHY BUY NOW?
- Mortgage rates are at their lowest level ever. You can realize tremendous savings. A $250,000 mortgage at 6% over 20 years costs you $177,313 in interest. That same mortgage at today's rate of 3% costs you $112,547. You can save almost $65,000 at the 4% rate. Rates in the early 1980's went as high as 22%, in the 1990's we saw 13.5%. No one can predict where rates will be in the future,but we do know that rates are very low today.
- You have a good selection of homes to choose from.There are fewer buyers, that means you have less chance of competing with another Buyer.
- Our local market has shown a steady increase in the value of homes over the last 10 years. A great way to build equity as well as pride of ownership. Granted there are no quarantees that house prices will not drop, but historically home prices move higher. The average residential home in our area sold for $128,000 in 1999, $152,000 in 2002, $206,000 in 2005 and $248,000 in 2008. When do you step into the market?
WHY SELL NOW?
- Serious Buyers are looking for homes now. The mortgage rates are very low and there is a pent up demand. Our Spring Market has started. The competition normally gets greater in the coming months.
- Our prices, in general, have not seen a serious price correction.
- Every market fluctuates, timing and pricing is crucial.
If you wish more specific details of our market please do not hesitate to call or email me.