Why are you waiting until Spring?


Why you shouldn’t “wait until spring” to buy a home! It will save you $$ and headache!

Based on prices, mortgage rates and rising rents, there may have never been a better time to purchase a home than right now. Here are some reasons why you should consider buying now instead of when the Spring market hits.
Price Increases – The costs of building are continually going up. Especially if you are going to buy new construction this year, NOW is a way better time to do so before the builders raise their prices for the spring Market. If you are a first time buyer, you will probably pay more both in price and interest rate if you wait until the spring
Mortgage Rates – It is likely that you have heard about interest rates in the past year. The talk has been that they are going to keep rising little by little and most economists believe that when the spring market rolls around and our economy is still prosperous the interest rates are going to make significant increase over the next year, some say that the average interest rate at this time next year will be above 7% which is almost two full points above where we are now. Also, as rates go up your buying power goes down.
Less Competing Offers – With fewer buyers out looking at this time, it is less likely to have competing offers on the same house, which means that you will get a better deal! When the spring market rolls around and there are more buyers out looking we will more than likely have a very competitive market which may include paying over the list amount for the house you want and risking paying over market value for your home. This is especially true if the low inventory of homes continues.
Quicker Transactions – Right now there are fewer real estate transactions than there will be in the spring. Which means that the appraisers, lenders and home inspectors are less busy; which means you get to move into your home quicker! If you wait until spring with all of these services are very busy, it leads to more stress, and the possibility of a delayed closing.
And last but certainly not least….
Owning a home helps create wealth – Either you are paying for your own mortgage or you are paying your landlord’s mortgage. In a recent study it revealed that the net worth of the average homeowner is 30 times greater than that of a renter.

So are you ready to purchase a home? My best advice would be not to wait until Spring and start looking today! Schedule a home buying consultation by Contacting me today!
Jeremy Lemm
Coldwell Banker Tomlinson
📲 509-217-9904
📧 jjlemmrealtor@gmail.com


Comments

Post a Comment

Popular posts from this blog

Curb Appeal for Everyday

Image
  Curb Appeal 5 suggestions and a bonus.  With today’s market selling a property seems to be easier than ever. Low inventory and high demand are driving the market. But, how do you set your property apart from the rest from the moment the potential buyer pulls up in front of your property?  Why is curb appeal important? Most buyers, unless they are driving up & down the streets looking for “For Sale” signs, are finding the properties online. You need to make it “POP” in pictures to catch the buyers as they swipe through the properties, regardless of what site they are using. Here we will go over a few items that seem like no brainers, but sellers tend to not think about or feel is not needed. Below I will briefly go over 4 things property owners can do to draw attention to their property whether they are selling or not. #1. Mow the lawn. This is one of those well duh.. But you’ll be surprised how many sellers once they list their property, especially if they don’t li...
Read more

To list "For Sale by Owner" or not, Part 2

Image
Here is part 2 of To List "For Sale by Owner" or not. I found this article that probably says it a lot better than I ever could for many reasons. So without further ado here is an article on the benefits of going FSBO.  'For Sale by Owner': the Benefits of DIY Real Estate Have you ever gasped over the amount of money sellers have to fork over to a real estate agent? Image credit: Shutterstock Peter Daisyme VIP CONTRIBUTOR Co-founder of Hostt July 13, 2017 6 min read Opinions expressed by  Entrepreneur  contributors are their own. Technology and  the new business models are changing the real estate game . Think about the empowerment that's been transferred to consumers in so many areas; the same goes for selling homes. Working with a real estate agent or broker is no longer your only option. So, read on for a full accounting of what's changed in the FSBO (for sale by owner) world that's made commission-free real estate a viab...
Read more