4 REASONS TO BUY A HOME THIS FALL

Dated: 09/26/2016

Views: 276


4 Reasons to Buy This Fall | Keeping Current Matters

It’s that time of year; the seasons are changing and with them come thoughts of the upcoming holidays, family get-togethers, and planning for a new year. Those who are on the fence about whether or not now is the right time to buy don’t have to look much further to find four great reasons to consider buying a home now, instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.4% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects home values to appreciate by more than 3.5% a year for the next 5 years.

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 Remain at Historic Lows

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained at or below 3.5% for 13 consecutive weeks. The Mortgage Bankers Association, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by this time next year.

Any increase in rates will impact YOUR monthly mortgage payment. A year from now, the percentage of your income that you spend on housing will increase substantially if you choose to wait.

3. Either Way You Are Paying a Mortgage

Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage - either your mortgage or your landlord’s. As a 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 now is the 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.

I Am always here to be ready to help you with all your Real Estate needs 24/7

Ann Norton 330-412-9799 

Homes by Ann 

Blog author image

Ann Norton

I am dedicated to you! I will give you a 100% all of the time day or night! I will get you the house you want for the price you want! I will sell your house and get it done quickly! I think outside th....

Latest Blog Posts

Credit Repair Fast Free And In Under 30 Days Get You A HOME

Did you Know WE do Credit Repair So you can Buy A Home Fast sometime in 30 days?IF you haven’t joined our Facebook Credit Repair Groups you May want to hereSummitCountyStark County If you

Read More

First Time Home Buyer Options Where To Start

I am looking for People who are serious about wanting to purchase a homeThe prime candidate is someone who is working on their credit, not sure of their credit orsomeone with a 520-570 credit

Read More

Spring Is Here Its Time To Sell And Time To Buy

Welcome Spring! It's that time of year when the temps start to warm up. The sun is shining more. Time for some spring cleaning, time for new beginnings, time for homes to start hitting the

Read More

Easy Tips Sheet For Finding Great Deals IN Summit County

Want a Great DEAL In Summit County? Don'T Know where to look? Well I decided to help you out! With some "Quick Links" that show you specific lists  of potential propertunites: in Summit

Read More