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Low Interest Rates Make It A Good Time To Buy Real Estate In Big Bear
I can’t think of a single time when a Realtor was asked if this was a good time to buy a home in Big Bear and the agent responding by saying no. If as a Realtor, I had a crystal ball, then there may have been times when I may have said “No, This is not a good time to buy in Big Bear” As of now, I don’t have that crystal ball, but if asked if this were a good time to buy in Big Bear, my answer would be yes and here’s why.Interest rates are at all time lows and while everyone expected them to rise after the last Presidential Election, they didn’t. In fact, the interest rates have fallen even lower since the elections. Let’s take a look at how these low interest rates affect your buying power today. Then we will take a look at what will happen to your buying power when they increase.For this discussion, we found a really nice cabin in Big Bear that you were able to buy for $250,000.00 You are putting 20% ($50,000.00) down and your interest rate is locked in at 3.5%. Based off of my calculations, that should give ... more
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