1. Low Interest Rates: Interest Rates are at an all-time historic low. Why is this such a big deal? You get more buying power from a drop in the interest rate than you do a drop in the sales price. At a mortgage amount of $400,000 the difference in a 4% Rate and a 3.125% rate is the difference between $1528 and $1371 which is $157 per month. That change in payment equates to about $37,000 in sales price. Plus, our preferred lenders are still offering great jumbo loan packages for loans over $563,000.
2. Inventory is LOW: If you have a home to sell, inventory is low and so you may be able to get a premium for your home due to the lack of options on the market. Studies are showing a 3.8% increase in the average home price from a year ago.. So if your property is in good shape, you’ll likely be very surprised at how well your property performs on the market!
3. The normal “tire kickers” are gone. People otherwise looking to purchase a home are staying out of the market. So the competitive home purchasing market is not nearly as cut throat as it has been in the past. You’ll get a more reasonable pace to decide on a home. Plus, many experts are seeing strong indications that in the next quarter those people will be out in the market again in record numbers. You’ll beat them to the punch!
“Don’t wait for the perfect moment. Take the moment and make it perfect.”
So…don’t wait. The right timing for that new home you have been dreaming about is NOW!