4 Reasons To Buy This Summer

Dated: 07/05/2016

Views: 319

4 Reasons to Buy This Summer! | Keeping Current Matters

Summer is here! The temperature isn't the only thing heating up right now, so too is the housing market in many areas of the country! Here are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 5.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.3% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects home values to appreciate by more than 3.2% a year for the next 5 years.

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 

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4%. Most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will be up almost a full percentage point 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 are Paying a Mortgage

As a 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 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.


by 


 Blog submitted by: Tina Young (Investor, Realtor) of The Real Estate MarketPlace – Servicing the Greater Fort Hood area which includes: KilleenHarker HeightsTempleBeltonCopperas Cove and Nolanville. Feel free to call Tina at (254) 338-0545 if you have any questions regarding Central Texas Real Estate.


For Real Estate Listings in Central Texas visit my website at: www.Tina.killeenlistings.com or if you’re on the go text  'Tina' to 254-227-5799

Blog author image

Chip Franks

The Supreme Commander of The Real Estate MarketPlace and A Good Guy, In General! Ron "Chip" Franks was born in 1972 in the thriving metropolis of Killeen, Texas and makes his profession there as on....

Want to Advertise on this Site?

Latest Blog Posts

9 MoneySaving Tips That Grandma Never Told You About

Your grandma and her ma before her knew how to pinch pennies. Bet they knew where every dime of their household income went. Do you? Don't kick yourself if you don't. It's tough in this day and

Read More

5 Painting Mistakes Thatll Show

 5 Painting Mistakes That’ll ShowPainting can be one of the most cost-effective ways to spruce up a listing. But homeowners can also make a lot of mistakes with this common DIY job. 

Read More

Preparing Your Home For Sale 2018

Have you really considered selling your home ?Are there lots and lots of questions that you'd like answered well let's try to answer a few ?Are you trying to sell your home as quickly as possible

Read More

Zillow

I realize that you may not know where I am. I am the owner of The Real Estate Home Team which is in Copperas Cove, TX. I have been helping people buy and sell homes in the entire Fort Hood area for

Read More