BUYING A HOME? CONSIDER COST, NOT JUST PRICE

Reblogger Lynn B. Friedman
Real Estate Broker/Owner with Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ...
https://activerain.com/droplet/4ZFy

Dear Readers -

 

Debe Maxwell,  from Charlotte, NC offers a lot of wisdom in her posts. She takes a longer view that most people who look at costs.

 


Debe's foresight gives us all an opportunity to see real estate from different perspectives. Enjoy these other posts from Debe Maxwell's Blog including Sweetheart Deals, Your Dream Home, Photos and Copyrights and Sellers Should Think Like Buyers.

 

 

 All the best - Lynn

PS  If I haven't thanked you personally for reading my Blog, let me do so right now! I really appreciate your stopping by and (perhaps) commenting! L.

Original content by Debe Maxwell, CRS 228209

BUYING A HOME?  CONSIDER COST, NOT JUST PRICE

Buying a home in Charlotte NCAs a seller, you are likely most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price so much as the ‘long term cost’ of the home.

 

The Mortgage Bankers Association (MBA), the National Association of Realtors (NAR) and Freddie Mac project that mortgage interest rates will increase by this time next year. In fact, we’ve already seen a slight increase and another expected early next quarter as well.

 

To add to a home buyer’s awareness, according to CoreLogic’s most recent Home Price Index Report, home prices should appreciate by 5.2% by the end of the year. 

 

What Does This Mean as a Buyer?

 

Here is a sample of the impact an interest rate increase would have on the mortgage payment of a home selling for approximately $250,000 today if interest rates only go up to 4.2% and home prices appreciate by the 5.2% predicted by CoreLogic by December 31, 2017:

Future comparison for Charlotte home buyers

 

I know, you constantly hear real estate professionals say, “Now is the time to buy!” Right now, we are basing this advice on three known facts -

1.  The best time to purchase is when interest rates are at the rock bottom, as are the sales prices.  (The days of rock bottom pricing and interest rates are gone!)

2.  Sales prices HAVE increased over the past year.

3.  Interest rates have increased over the past 30 days.

 

Prices continue to rise month-over-month and we’ve already seen the Feds in action with an increase in interest rates during the past 30 days.

 

Another light bulb momentIf you are considering purchasing your dream home in the next year, it may be better to do it sooner rather than later.  The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as we get farther into 2017. 

 

So, what is YOUR cost of waiting to purchase?

If moving is something you’re considering in 2017, let’s talk!  Give me a call or text at (704) 491-3310 or email DebeM@remax.net and let’s get you moving towards that dream home!

 

© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com | BUYING A HOME?  CONSIDER COST, NOT JUST PRICE

     search charlotte real estate information at www.icharlotterealestate.com 

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Debe Maxwell, Realtor®/Broker/CRS
CharlotteBroker@icloud.com

Direct:  (704) 491-3310

 

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Topic:
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Rainmaker
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Lynn

Great choice to re-post Debe Maxwell post.

Good luck and success.

Lou Ludwig

Feb 16, 2017 06:39 PM #1
Rainer
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Shahar Hillel
Augusta Financial Inc. - Stevenson Ranch, CA
Mortgage Consultant, Loan Officer.

Lynn good evening.

Thank you for the re-blog missed this post the first time around.

Feb 16, 2017 06:58 PM #2
Rainmaker
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Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

This is a good choice for a reblog, Lynn B. Friedman 

Feb 16, 2017 08:22 PM #3
Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Lynn indeed a great re-blog from our friend Debe Maxwell  she was spot on, Endre

Feb 16, 2017 10:02 PM #4
Rainmaker
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Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Lynn B. Friedman ,

How did I miss this post! Wonderful! Thank you for re-blogging..excellent post..off to comment on Debe Maxwell post!

Feb 17, 2017 05:57 AM #5
Rainmaker
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Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

This was a great choice for a reblog, Lynn!  I had missed Debe's original post!

Feb 17, 2017 11:09 AM #6
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
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Lynn you do a great job of picking out excellent blogs to re-blog and this was a very good pick.

Feb 17, 2017 04:47 PM #7
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