Why Waiting To Buy Might Not Make Sense
Whether you are a first time or a move-up buyer, there are two factors that will impact the amount of house you can afford in your price range: home prices & mortgage rates.
Let’s look at what the experts are predicting over the next twelve months for these two areas:
Whether you are a first time or a move-up buyer, there are two factors that will impact the amount of house you can afford in your price range: home prices & mortgage rates.
Let’s look at what the experts are predicting over the next twelve months for these two areas:
PRICES
Over 100 economists, real estate experts and investment & market strategists were recently polled as a part of the Home Price Expectation Survey. They were asked to project where home prices are headed. The average value appreciation projected over the next twelve-month period is approximately 4.4%.
Over 100 economists, real estate experts and investment & market strategists were recently polled as a part of the Home Price Expectation Survey. They were asked to project where home prices are headed. The average value appreciation projected over the next twelve-month period is approximately 4.4%.
MORTGAGE INTEREST RATES
In the latest Economic & Housing Market Outlook from Freddie Mac, they predict that the 30-year fixed mortgage rate will be 4.7% by this time next year. As of last week, the Freddie Mac rate was 3.69%.
In the latest Economic & Housing Market Outlook from Freddie Mac, they predict that the 30-year fixed mortgage rate will be 4.7% by this time next year. As of last week, the Freddie Mac rate was 3.69%.
What does this mean to you?
If you are a first-time buyer currently looking at a home priced at $250,000, this is what it could cost you on a monthly basis if you wait until next year to buy:
If you are a first-time buyer currently looking at a home priced at $250,000, this is what it could cost you on a monthly basis if you wait until next year to buy:
insuring that the city’s infrastructure is state of the art and will meet the growth demands that coastal Georgia is experiencing. Our community rests along the banks of the Satilla River. Once called Saint Illa by Spanish explorers, the Satilla is a wonderfully unspoiled pristine waterway abundant with fish and wildlife. This vast inlet to the St. Andrews Sound provides a major access to the Atlantic Ocean and is without question an irresistible haven to boaters, anglers and naturalists.
waterfront homesites on 500-foot wide water that is 30 feet deep at low tide.
