4 Reasons You Should Buy a Home Today
Considering current home prices, mortgage rates and soaring rents, there may not be a better time in real estate history to purchase a home than right now. Here are four major reasons you should consider buying today:
Supply Is Shrinking
Throughout 2012 we saw inventory declining across Sussex County, finding a home of your dreams is become more difficult going forward. Inventory has shrunk to a 6 months supply in 2013.The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.
Price Increases Are on the Horizon
Prices have bounced along the bottom this winter. However, all projections call for rising prices moving into summer. We are already seeing that especially in downtown Rehoboth Beach. Several studies and surveys call for price increases over the next few years starting in 2013. One survey shows that prices could increase over 15% by 2016.
Interest Rates Are at Historic Lows (but rising)
Federal Reserve Chairman Ben Bernanke has kept interest rates low as housing is the key to bringing back our economy. However, if the economy continues to improve in 2013, the need to keep rates low will no longer exist. The 30-year-mortgage rate before the financial crisis was 6.57% (August 2007). Most analysts see rates heading above 4% by the end of the year.
Buy Low, Sell High
We 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’, but prices are beginning to rise. It’s time to buy.
With over 6 decades of trusted, local real estate experience, you can rely on us to find you the right home. Visit us at www.beachteam.com to find many easy to use and free MLS search options. Call us with any questions at 302-542-5534 or drop us a line at email@example.com. We look forward to providing you with exceptional service.