cost of waiting: The Potential Cost of Waiting to Buy a Home
- 02/21/14 04:44 AM
What is the Potential Cost of Waiting? For many years we did not have to worry to much about the cost of waiting because housing prices were flat and interest rates were historically low. However, home prices are increasing and interest rates are rising. More than ever you now need to think about how waiting to buy a home can potentially cost you thousands more. Take a look at the difference in the average price and interest rate from Dec 2012 to Dec 2013. The average price increased by $16,800 and the average rate increased by 1.11% with an increased payment … (0 comments)
cost of waiting: The Recent Rate Movement
- 07/31/13 10:39 AM
The Recent Rate Movement Prices are still going up, they may not go up another ten percent but they’re going up. Interest Rates are going up and we don't know where they will be by the end of the year. So it may not make sense to wait and buy. In fact, it will most likely cost you more money if you decide to wait. The picture above shows where interest rates were since the beginning of the year. Interest rates normally trade in bands. They don’t usually skyrocket up and down, but they bounce up and down within a … (2 comments)
For those thinking of waiting to buy, you have to think about the potential cost of waiting. For example If you didn't buy last year and waited to buy now, how would that have impacted you? What if you wait another year? Take a $200,000.00 house from last year, add a ten percent increase in price in the last year, increase the rate from 3.5 percent you could get last year to 4.5 percent and the mortgage payment went from a little less than $900.00 a month to over $1,100.00 a month. That’s a $216.62 increase every month … (2 comments)
I literally fell into this business, 42 feet to be exact. Straight down an elevator shaft 17 years ago. Ever since I have been a Colorado loan officer - My goal is to always make the loan transaction as stress free as possible and to always close on time. For some reason lenders forget that contract dates actually mean something. Go figure...right? Weird, I know! - I Currently sponsor weekly training webinars that feature ways to help your business by presenting cutting edge, innovative technology, strategies and transforming ideas to meet current market conditions. - I believe that success breeds success and that we are at our best when we are helping others to succeed. Basically a Zig Ziglar fan. :)
What is the Potential Cost of Waiting? 
;)
;)
