Today's Real Estate Deal is the Interest Rate

Today's Real Estate Deal is the Interest Rate

With increased demand for homes and shrinking inventory in Brevard County, the real estate "deals" of the past couple of years are increasingly difficult to find.  Well priced homes in good condition do not last long in today's market. Even the distressed properties and fixer-uppers in the lower price range are being snatched up by investors.

Full price offers and multiple offer scenarios are increasingly more common. I know everyone wants a great deal on a house, but there is more to a great deal than the list price. 

Today the great deal in real estate is the interest rate.  Interest rates today are just below 3.5% and projected to rise to 4% next year and increase to 4.6% in 2014.

As demand for homes outpaces the supply, prices will continue to rise and the interest rates will also rise.  The cost will be significant for buyers who continue to wait on the sidelines.  Some may eventually be priced out of the market and unable to buy at all.

When purchasing a home it is important to consider the entire financial picture.  Today's home prices are still low and today's interest rates allow buyers to purchase more house at a lower cost.  The interest rates are historically low, but this deal won't last.

Contact me for more information about buying a house in Brevard County, Florida.

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