I’d like to pass on some information that could be very important to you if you’re still in the market for a new home. Whether you are looking to purchase your first home, move to a larger home, or find your forever home, this information could help you realize your dreams more quickly and save you money. Because now is definitely the time to make your move.
According to many financial sources, including The Wall Street Journal, The Washington Post, and Bloomberg.com, home prices have jumped nearly 10% in the past year-the fastest increase since 2006!And with the housing market already into the spring peak selling season, prices are expected to go up even further.2
The good news is that while home prices are rising, interest rates still remain at an all-time low, continuing to help make homes affordable.3 But they’re expected to rise with the cost of housing by the end of the year. So buying now is your best opportunity to save on the new home you’ve always wanted.
The price of waiting can be steep. A nationwide panel of 118 economists, real estate experts, and market strategists recently predicted that home prices may go up another 3 to 4% by the end of 2013, with interest rates rising by 1%.4 Take a look at this example on a $250,000 home, based on a 3.1% price increase, with a current interest rate of 3.4%5:
Delaying your decision can mean remaining in your current situation, which has you looking to move, and can mean paying more for the same home you could have paid less for today.
I’d love to help you and your family find the home you want for the best possible price