Margo Christophilis
Seattle,
WA
More about me…
SeattleMargo.com - Horizon Real Estate
Address: 7900 Green Lake Drive North Suite # 212, Short Sale in Seattle, Seattle, WA, 98103
Office Phone: (206) 963-5525
Cell Phone: (206) 963-5525
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Seattle home value, buy now before you are priced out. Inventory is being snapped up quickly - here is why!
Want to Buy a House? It's Like 1995 all Over Again!
Why is this such a great time to own a home? This is the perfect storm if you are currently renting, what makes the perfect storm for a renter – home values have declined to a price point that is close to 2003, and with the mortgage rates at serious historical lows the buying power you have to own a home is like you just purchased in 1995.
Home values in the Green Lake – Seattle, WA area for a home that is of a normal 3 bedroom 1.5 bath home with roughly 1600 square feet in 1995 depending on the exact location you would have paid 165,000.00 – 205,000.00. In today’s market of Jan. 2012 you will spend around 285,000.00 – 435,000.00, again depending on exact locations.
So if you are a renter – this is the perfect storm:
1.Home Values Down
2.Mortgage Rates at all-time lows
3.Housing Supply – lots to choose from
4.Buyer’s Market – so you now can shop around and sellers will negotiate terms, price and incentives.
See Historical Chart for Mortgages for the Year 1995:
1995
30 Year
FRM
15 Year
FRM
1 Year
ARM
January
9.15
8.80
6.82
February
8.83
8.46
6.67
March
8.46
8.06
6.45
April
8.32
7.88
6.35
May
7.96
7.51
6.13
June
7.57
7.06
5.87
July
7.61
7.09
5.83
August
7.86
7.36
5.93
September
7.64
7.16
5.81
October
7.48
7.01
5.74
November
7.38
6.89
5.64
December
7.20
6.74
5.57
Based on the buying power of today’s interest rates you effectively are able to purchase your home as if it was 1995! Answer these questions!
•·What was the popular song in Jan. 1995?
•·Who won the Super Bowl on Jan. 29th 1995?
•·What Bombshell Beauty Married on Feb. 18th to a motley Rocker?
See how time goes fast and looking forward where will you be in 17 years?
Here is a great artical from Paul Muolo who wrote a post about buying a home like it was 2003.
•Mortgage Rates
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