You Snooze You Lose-What Buyers May Be Losing By Waiting

By
Real Estate Agent with Equity Real Estate - Advantage

                

 

               OR

 

 

 

 

I'm sure you've noticed that interest rates are creeping up.....again! They were the lowest they've been in years. Rates are still very good, but they may not stay that way for long! Another factor to consider is that  housing prices are near what they were in 2003 in our particular area! Do you know someone who is fence sitting....waiting for the perfect time to buy? Yeah, most of us do. You may want to make them aware of some very interesting numbers. Point out to them the difference in owning a $320,000 vs. a $240,000 home for the exact same payment amount! Do you think that might make them sit up and take notice?

Loan Amount     Rate       Payment        Payment     Rate        Home Price

$320,000.00 @ 5.25% = $1,766.00         $1,766.00 @ 5.25% = $320,000.00

$320,000.00 @ 6.00% = $1,918.00        $1,766.00 @ 6.00% = $294,700.00

$320,000.00 @ 6.50% = $2,022.00        $1,766.00 @ 6.50% = $279,540.00

$320,000.00 @ 7.00% = $2,128.00        $1,766.00 @ 7.00% = $265,566.00

$320,000.00 @ 7.50% = $2,237.00        $1,766.00 @ 7.50% = $252,680.00

$320,000.00 @ 8.00% = $2,348.00        $1,766.00 @ 8.00% = $240,775.00

FACT: Rates are Phenomenal - now!

FACT: Home Prices are Lower and Fantastic!

FACT: We are in the PERFECT STORM!

Home prices and interest rates are subject to change and both most likely will go up.

Payment will go up substantially for the exact same home!

Food for thought!

Happy buying!

 

Contact Suzanne Gallegos, Salt Lake City's Service First Realtor

Serving Salt Lake City, Utah and surrounding areas

www.suzannegallegos.com

801-910-1152

**FREE relocation package available

Comments (2)

David Henke
Long & Foster Real Estate, Inc - Newtown Square, PA
Realtor, Homes Just West of Philadelphia PA

Great examples that really show the bottom line.  This is a great time to take advantage of the market.

Jun 10, 2009 11:05 PM
Laura Gray
RE/MAX Realty Group - Gaithersburg, MD

Wow - I wish i could send a little chart like that to everyone of my buyers. What the eye sees in relation to $$$$ beats all of the talking I can do. I am convinced that all my clients hear is Wa-WA -wa wa wa like the teachers on the Charlie Brown shows.

Jun 19, 2009 08:58 AM