Get More Bang For Your Buck Than In The Last 15 Years.

By
Real Estate Broker/Owner with Realty Empire Incorporated

The monthly cost of owning a home is more affordable now than in the past 15 years, and is less expensive than renting in many cities.

Low home prices combined with low mortgage rates – hovering at 4 percent or lower – create an appealing buyer’s market, analysts say.

For example, buyers today have a 77 percent increase in their borrowing power compared to 1991, according to Dan Green, a loan officer with Waterstone Mortgage in Cincinnati. He says that in 1991 a $1,700 mortgage payment allowed a borrower to take out a $200,000 mortgage. Today, at current interest rates, the homebuyer can get a $350,000 loan for that same monthly mortgage payment.

According to The Wall Street Journal 12 out of 28 cities tracked showed, monthly mortgage payments on a median-priced home – including taxes and insurance – were lower than the average rent levels.

Today’s market truly is a once in a lifetime opportunity….

Posted by

 

Stephanie Leon

Real Estate Broker
Realty Empire

6625 Miami Lakes Dr.
Miami Lakes, FL 33014

Contact me at:
786-664-7710
SLeon@RealtyEmpire.net

 

 

                        

  

 

All Rights Reserved. Copyright 2010-2018 Stephanie Leon Realty Empire 

Comments (2)

Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Why rent when you can buy. This is so true and get your rentere preapproved. They will love you for it.

Dec 01, 2011 03:31 PM
Malinda Montgomery RSPS AHWD TMS-Realtor
Gaffs Realty - Port Orange, FL

Hi Stephanie, It's definitely a buyers market with great deals on home purchase and mortgage rates.

Dec 01, 2011 03:32 PM