Thinking Of Buying A Home? 5 Reasons To Buy NOW!

Courtesy of Keeping Matters Current

2014-02-06 17.48.10Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying.

1. Competition is about to Increase

Every spring a surge of prospective purchasers enter the housing market. Like you, they will want the best home available in the best location at the best price. They will be competing with you for the ‘steals’ in the market. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy available today that no longer be available as the market heats up..

2. Price Increases Are on the Horizon

Nationally, home prices are projected to appreciate by 4.5% in 2014 and by over 19% from now until 2018. First home buyers will probably pay more both in price and interest rate if they wait until the spring. Even if you are a move-up buyer, it will wind-up costing you more in net dollars as the home you will buy will appreciate at approximately the same rate as the house you are in now.

3. Owning a Home Helps Create Family Wealth

Whether you rent or you own the home you are living in, you are paying a mortgage. Either you are paying your mortgage or your landlord’s. The Federal Reserve, in a recent study, revealed that the net worth of the average homeowner is 30 times greater than that of a renter.

4. Interest Rates Are Projected to Rise2014-02-09 17.05.58

The Mortgage Bankers Association, the National Association of Realtors, Freddie Mac and Fannie Mae have all projected that the 30-year mortgage interest rate will be over 5% by the spring of 2015. That is an increase of almost 3/4 of a point over current rates.

5. Buy Low, Sell High

Most would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Today, real estate is selling ‘low’ compared to where it will be next year. It’s time to buy.

Our high season is almost over in the Naples area and soon the cars will be streaming back up north.  Not as early this year probably because of the terrible weather still being experienced in our northern areas!  However, our roads will be quieter and there will be less people looking to buy homes.  This is a great advantage for the buyer who comes to look in April, May and June.  You have more opportunity to see homes because they are not occupied by renters or owners and the sellers know that they have to be more open to offers.  Our prices in Naples are on the rise but should rise less quickly during the coming summer months.  Take advantage of the quieter market to get yourself an excellent deal and a warm home to enjoy next winter when the snow is blowing up north!

Call me today at 239-601-3174 so that we can discuss your needs and wants and start narrowing down the search for you.  There are new communities being built, resales at great prices and plenty of time to look and enjoy our area.  NOW is the time don’t wait until you are freezing again next year!

Remember it is always toasty in Naples and you deserve your piece of Naples sunshine and to be warm and toasty!2014-02-06 17.56.22 2014-02-09 16.59.14

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