Hello Friends,
As the temperature in many areas of the
country starts to cool down, you might think that the housing market will do
the same. This couldn’t be further from the truth! Here are 4 reasons you
should consider buying your dream home this winter instead of waiting for
spring!
1. Prices Will Continue to
Rise
CoreLogic’s latest Home Price
Index reports that home prices have appreciated by 6.3% over the last
12 months. The same report predicts that prices will continue to increase at a
rate of 5.2% over the next year.
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
Your monthly housing cost is as much related
to the price you pay for your home as it is to the mortgage interest rate you
secure.
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year
mortgage are currently at 4.08%. The Mortgage Bankers Association,
Fannie Mae, Freddie Mac & the National Association of Realtors are
in unison, projecting that rates will increase by this time next year.
An increase in rates will impact YOUR monthly
mortgage payment. A year from now, your housing expense will increase if a
mortgage is necessary to buy your next home.
3. Either Way You’re Paying
a Mortgage
There are some renters who have not yet
purchased a home because they are uncomfortable taking on the obligation of a
mortgage. Everyone should realize that, unless you are living with your parents
rent free, you are paying a mortgage - either yours or your landlord’s.
As an owner, your mortgage payment is a form
of ‘forced savings’ that allows you to have equity in your
home that you can tap into later in life. As a renter, you guarantee your
landlord is the person with that equity.
Are you ready to put your housing cost to
work for you?
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 now is the 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. https://goo.gl/Wr1usU
Thanks
so much,
ERA
Skyline Real Estate
3376
Harrison Blvd.
Ogden,
UT 84403
(801)627-6500
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