Today's Real Estate Deal is the Interest Rate

By
Real Estate Agent with RE/MAX AEROSPACE REALTY www.LauraSellsBrevard.com SL3236966

Today's Real Estate Deal is the Interest RateInterest rate deal in real estate

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.

You can visit my website to search for homes in Brevard County, Florida with no obligation.

Comments (5)

Kathy Stoltman
Balboa Real Estate - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793

Hi Laura, the interest rates have never been so good, now is a great time to buy.

Nov 13, 2012 09:58 AM
John G. Johnston
John G. Johnston & Associates, LLC - Westcliffe, CO
An Exclusive Buyer's Agent ~ Westcliffe, CO

Hi Laura  I have had more than one client this year that decided to finance the property even though they could have written a check; all because interest rates have never been so good!  Thanks for sharing.

Nov 13, 2012 10:29 AM
Christine O'Shea
Christine E O'Shea Broker - Naples, FL

Laura, I agree with John above, in our area 75% of the buyers are cash, however, they like to finance and keep their cash!

Nov 13, 2012 10:34 AM
Laura Forman
RE/MAX AEROSPACE REALTY www.LauraSellsBrevard.com - Melbourne, FL
Your Brevard Premier Property Specialist

Yes there are a lot of cash buyers, but even the cash buyers are considering financing the amount above their initial price range to acquire the property that would otherwise be out of reach.

 

Nov 13, 2012 10:45 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Laura, it is true, right now you can buy LOTS more house with this low interest rate.   Once it starts increasing, your buying power just decreased!

Nov 13, 2012 11:27 PM

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