Save Money and Buy Now!
Why should you buy a home now? The cost of a home is determined by price and current mortgage rates. And both are going up. We’ve passed the bottom of the market and, according to NH Association of REALTORS® President, Bill Weidacher, the market is consistently heading in a positive direction. Here’s why waiting no longer makes sense.
Home Prices are Rising – According the Case-Shiller Home Pricing Index, nation-wide, home values have increased 10% in the last year. Many experts are calling for the prices to continue to rise. In NH, the median price is up 5% from last May and YTD sales are 11% ahead of last year. A 22.3% appreciation in home values over the next 5 yrs. is projected by the Home Price Expectation Survey.
Interest Rates are Rising – Freddie Mac reports that interest rates for the 30-yr. fixed rate mortgage has risen about 1/2 percentage point. The National Association of REALTORS®, the Mortgage Bankers Association, and Fannie Mae are anticipating the interest rates to further increase by ½ percent by this time next year.
If you are considering the purchase of a home and like the idea of saving money, then buying sooner rather than later should be on your to do list! Give me a call to work with a REALTOR® in the know and the 2013 Sunapee Region Board of REALTORS® REALTOR® of the Year. 603-526-4116, www.donnaforest.com
Why should you buy a home now? The cost of a home is determined by price and current mortgage rates. And both are going up. We’ve passed the bottom of the market and, according to NHAR Pres. Bill Weidacher, the market is consistently heading in a positive direction. Here’s why waiting no longer makes sense.
Home Prices are Rising – According the Case-Shiller Home Pricing Index, nation-wide, home values have increased 10% in the last year. Many experts are calling for the prices to continue to rise. In NH, the median price is up 5% from last May and YTD sales are 11% ahead of last year. A 22.3% appreciation in home values over the next 5 yrs. is projected by the Home Price Expectation Survey.
Interest Rates are Rising – Freddie Mac reports that interest rates for the 30-yr. fixed rate mortgage has risen about 1/2 percentage point. The National Association of REALTORS®, the Mortgage Bankers Association, and Fannie Mae are anticipating the interest rates to further increase by ½ percent by this time next year.
If you are considering the purchase of a home and like the idea of saving money, then buying sooner rather than later should be on your to do list! Give me a call to work with a REALTOR® in the know and the 2013 Sunapee Region Board of REALTORS® REALTOR® of the Year. 603-526-4116, www.donnaforest.com.