Three reasons why you should buy soon in our changing market.
If you don’t act soon, your dreams of buying could be gone. Here are three reasons why now is the time to make a move:
1. Interest rates are on the rise. The Federal Reserve recently announced that they’ll have four rate hikes by July 1.
2. Rising rates mean less buying power. A 1% increase in your interest rate could cost you $50,000 in buying power. If you bought a $450,000 house now, your monthly payments would be about $1,900. Once rates go up, that same price and payment might net you a less valuable home in a completely different neighborhood or school district.
3. Property values appreciate 10% to 20% every month. This quick rate of appreciation emphasizes the previous point. With values appreciating so quickly, you could be losing even more buying power.
If you have any questions, visit our website and don’t hesitate to reach out to us by phone or email. We look forward to hearing from you.