Should I Buy Now or Wait Another Year?

By
Real Estate Agent with East West Partners of VA, Hampton Roads, Virginia 0226005035

Wondering if now is a good time to buy a new home? Thinking about waiting a little while longer to purchase because you think you have plenty of time left before mortgage interest rates rise? You might want to take another look at the Infographic below from Real Estate with Keeping Current Matters. Homebuyers have a great selection of new homes available now and most economists predict 2016 will be the best year for the housing market in over 7 years.

What is the real cost of waiting another year? As the Keeping Current Matters' chart points out, the cost of waiting to buy is defined as "the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time". The longer you wait to buy your dream home, the more likely the interest rates will rise, and thus the overall cost to buy will increase.

If you're looking for a new home in the Hampton Roads area of Virginia, you can start your search at Founders Pointe. You can tour 4 furnished models and select from 8 new homes available for sale, priced from $449,900 to $649,000.

Founders Pointe is a waterfront community in Isle of Wight County (just 10 minutes to the town of Smithfield) and features resort style amenities with quality custom homes ranging in price from $400,000 to over $800,000. Visit www.founderspointe.com to find out more about the central location and excellent school system in Isle of Wight County. Contact Donita Frantz or Mark Edwards with East West Realty for more information, (757) 238-9009

Discover the best in lifestyle communities at Founders PointeLiberty Ridge, and The Riverfront at Harbour View. East West is also celebrating its 25th anniversary of the Gatling Pointe Yacht Club, a riverfront club/restaurant and pool complex with a 68 slip marina adjacent to the town of Smithfield,Virginia. Visit an East West Realty Sales Center today. 

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Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

With steadily rising property values and homeowners' equity, the housing market continues to regain its footing while mortgage delinquency and home foreclosures go down.

May 24, 2016 04:35 AM #1
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Mark Edwards

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