The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 11.8% (most pessimistic) and 26.7% (most optimistic). 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 started to inch up, most experts predict that they will begin to rise even more over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison projecting that rates will be up approximately three quarters of a percentage point over the next 12 months. An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.
3. Either Way You are Paying a Mortgage
As a recent 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 it is 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.
Find Every North Central Washington Real Estate Listing at http://Melissa.NCWhomes.com
About Wenatchee, WA Real Estate - Melissa & Kent Kiser REMAX Landmark
We are full time Realtors for over 27 years, we have successfully represented buyers, sellers and investors in the sale and purchase of thousands of properties. We believe our success can be attributed to our honesty, dedication, commitment and level of service we provide to our clients. We skillfully learn what our client is seeking to accomplish, and research the necessary information to provide the best clear cut strategy to move forward. Constant communication and feedback are vitally important during the Real Estate process and we clearly and precisely guide our clients through every step of the way. Our Priorities Are Simple…They’re Yours! We are partnered with RE/MAX Real Estate the only National Real Estate firm with the #1 visited website in the country. We Love Selling Real Estate and our enthusiasm shines through!
You can search the entire North Central Washington MLS on our website at www.NCWhomes.com Please give us a call and see what 27 years of successful Real Estate experience can do for you. We would love to meet with you and show you our “First Class” marketing program. We will discuss your needs and create an individual plan to help you obtain your real estate goals. Great exposure produces amazing results!
Find Every North Central Washington Real Estate Listing at www.NCWhom
""We can't say enough good things about Kent and Melissa! As first time home buyers it was very comforting knowing they truly had our best interests at heart. Whether it was being available to show us a home or answer our questions, we could always count on them to be there. They truly made this experience for us an enjoyable one and most importantly, stress free! We will definitely be recommending them to others and we look forward to working with them again in the future!""