4 Great Reasons to Buy a Home This Fall
Jerry Newman gives us the perfect reasons to buy NOW - and this holds true in Charlotte, North Carolina as well! To his point about mortgage payments being less than monthly rental rates - a recent study conducted here showed that our rental rates were 53% MORE than monthly mortgage payments. That is a considerable difference, making a home purchase the smartest financial move you can make.
With both interest rates and sales prices on the rise, you really can't afford to keep paying someone else's mortgage for them instead of making your own!
Thinking of buying in the Charlotte Metro region but, don't know if the time is right, give me a call at (704) 491-3310. We're happy to assist you with your decision and introduce you to our preferred lenders to more closely evaluate your financial status and advise you as to your best 'move!'
(THE best Charlotte home search available - no kidding!)
Charlotte NC Real Estate Agents
Debe Maxwell, Realtor®/Broker/CRS
CharlotteBroker@icloud.com
Direct: (704) 491-3310
Here are four great reasons to consider buying a home today instead of waiting.
1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Index reports that home prices have appreciated by 5.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.3% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects home values to appreciate by more than 3.5% a year for the next 5 years. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4%. Most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by this time next year. An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.
3. Either Way You are Paying a Mortgage
As a paper from the Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”
4. It’s Time to Move On with Your Life
The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But what if they weren’t? Would you wait? Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy. If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.
So, why not call today at 210-789-4216, and take a look at all the Homes For Sale in and around San Antonio Area. San Antonio is still considered one of the top cities to live based on affordability, job opportunities, economics, and a variety of life styles.
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Jerry Newman, REALTOR®
US Army Retired
Brown Realty
1802 NE Loop 410 Ste 2
San Antonio, TX 78217
Direct 210-789-4216
www.JerryNewmanSARealEstate.com
Helping and Serving the real estate needs of buyers and sellers in the Greater San Antonio, Bexar County, and all the surrounding areas.
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