Here are four great reasons to consider buying a home today instead of waiting.

 

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.4% over the last 12 months. Year 2015  didn’t end in a bad way, 2015 right now is the best year  ‐ is the best year we had all the way back to 2006, nine years ago.  As a matter of fact, foot traffic, the number of people out looking at houses right now, the number of people looking to buy a house is increasing. Demand is increasing.

The same report predicts that prices will continue to increase at a rate of 5.2% 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% 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 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 almost three-quarters of a percentage point by this time next year. 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.Mortg Rates rising

 3. Either Way You are Paying a Mortgage

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 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.

To have an estimate on the mortgage payment for your property to buy, please visit us at monicaposada.zerching.com

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About Monica Posada,MSIRE

This profession has rewarded me with business and priceless relationships. The experience of over 11 years in Miami along with the awareness of what is happening in the market, guarantee that I will seek out the best real estate opportunities for my clients. You can expect accurate comparables and neighborhood statistics and will always make sure that our clients get the best property for their dollar regardless of how long it takes. Now as the sales manager for Real Living in Miami Beach, I train, coach and lead a professional real estate team, count on our company's amazing integrated suite of resources, which led it to receive an award by Entrepreneur magazine, "the Inman Innovator Award" and was named “The Most Promising New National Brand”. Our market research is specialized by property type and integrates cutting edge technology, local market trends, as well as regional and national developments to support property evaluation, pricing and positioning. Honesty and Integrity are the cornerstone of my career. I'm fluent in Spanish and English. Master Degree in International Real Estate (MSIRE) from FIU.(2015). Luxury Home Marketing Specialist (LHMS), TransNational Referral Specialist (TRS), Multi-million dollar producer, Member of the National Association of Realtors, Member of Greater Miami and the Beaches Realtor Association.
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