Admin

Buy Now or Forever Hold Your Peace

By
Real Estate Broker/Owner with Pro Players Realty

Great Buy

Delaying a home purchase waiting for home values to decline could price you out of the market.

Say you are waiting for Tallahassee home values to decline 10%...

If that were to happen, and interest rates rose 1% to the 6% level, then you may not no longer be able to afford the same Tallahassee property.  Interest rates are at all-time  lows and have likely probability to increase.  Not to mention the first time buyers tax credit.

Buying the same home | Waiting for price Decline | % change | Borrowing the same amount | Buying a better home

­­­Borrow

$100,000

$90,000

-10.0%

$100,000

$100,000

Interest Rate

5%

6%

20.0%

7%

8%

Monthly Payment

(30 year fixed rate loan)

$536.82

$539.60

0.5%

$665.30

$733.76