Fall is the Time to Buy & Here’s Why - Contra Costa County, CA
Have you been thinking of buying lately but haven’t made any moves? Let us tell you why your time to buy could be now. As a buyer, you may know the market changes from what can be known as a buyer’s market to a seller’s market. A buyer’s market can be considered as a real estate market that is prime opportunity for a home buyer. For example, there is a lot of competition and sellers are more willing to negotiate. Another example is the market is supporting lower home sales. In three months, the same house could be worth more so why not catch it while it is lower.
And on the flip side, a seller’s market can be explained as a prime time for sellers to sell their home. The market may be supporting a higher sale for what they have in a home. The neighborhood may have become more desirable to buyers or there may not be as many homes available for sale. This can cause a flood of buyers where one home can receive multiple offers.
Right now, is a buyer’s market for mortgage rates, especially. This fall in Contra Costa County, CA, is your time and here is why.
Mortgage Interest Rates at Historic Lows
According to bankrate.com, mortgage rates are at a record low. They have sunk into a 3-month low. Interest rates for 30-year mortgages have remained around 3.5% for a little over 3 months. We know what goes down must come up. These rates will increase. So, if you have been waiting to take that leap into home ownership, now is the time to take advantage.
Rising Prices
Where there is a buyer’s market, a seller’s market must soon follow. Home prices are appreciating, which is great for sellers. For buyers, however, you gain the most to buy during your market; especially with mortgage rates being decreased. Rates are predicted to rise over the next year. Meaning that this time next year, homes in your area (Contra Costa County, CA) will cost more.
This fall is the Time to Buy & Here’s Why- Contra Costa County, CA information is brought to you by: The Irvin Team, Matt Irvin, Flexible Solutions to Fit Your East Bay Property Management Needs.
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