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4 Reasons It Is Still a Good Time to Buy

Published on August 16, 2015 by Carrie Watt

Thinking of Buying? Here are 4 Reasons Why it is Still a Good Time!

Fox Business recently published an article of why it is still a good time to buy. Here is a brief summary of why you should start looking for your new home now! For the full article, please go HERE.

1.  Interest Rates are Low
Mortgage rates around the nation are at 4%. With a 30 year mortgage falling to 3.98%. They are expected to stay low through the end of the year.

2.  Home Prices are Stabilizing
According to the latest S & P case, homes are still up almost 5% year-over-year, but home price index shows prices increased slightly less than expected. However, some hot markets, like Seattle, are still seeing low inventory and bidding wars.

3.  Owning is Cheaper Than Renting
According to Zillow’s Svenga Gudell, renters are spending 30% of their monthly income on rent, while homeowners are spending 15%.

4.  It’s Easier to Get a Mortgage
Lenders are now taking on more risk than they had in the past. The average down payment is 15% of the purchase price, but there are new rules that can help you put down an even lower amount.

Please contact us if you would like to discuss finding your new home!

Carrie Watt - “Pointe3 Real Estate - not your cookie cutter real estate brokerage. ”