3 Reasons NOW is the time to buy a home!
Have you been on the fence about buying a home for a while? Here’s some data that might convince you to make the move. According to Ted Jones, Stewart Title’s Chief Economist we are in the perfect market to promote homeownership. Here are 3 reasons why NOW is the time to buy a home!
1.) Low fuel costs: Have you noticed the cost of gas has dropped considerably in the last few months? That’s a great sign! According to Jones, cheap energy costs mean lower electric bills and savings on gas put more money in your bank account and allows many consumers to afford higher mortgage payments.
2.) Low interest rates: The average interest rates are below four percent making affordability more reachable than ever. In fact, the average rate for a 30-year, fixed-rate mortgage fell to 3.66 percent this week, according to Freddie Mac’s weekly mortgage market survey. That’s the lowest rate since May 2013.
3.) Rising home prices: “As prices rise, more and more people are realizing the time to buy is now,” notes Jones. “People who purchased a home a year ago basically got their first year of ownership free based on increase in home value.” According to Case-Shiller, November 2015 showed a 5.1 increase in pricing.
So what are you waiting for? If you’re ready to buy a home in the West Valley, Goodyear, Avondale, Litchfield Park and the greater Phoenix area, be sure to visit your one-stop shop for real estate services and let the award winning Bourland Group meet and exceed your expectations! We look forward to helping you with your real estate investment goals. –Joe
The Bourland Group
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This communication is provided to you for informational purposes only and should not be relied upon by you. RE/MAX Professionals is not a mortgage lender and so you should contact a qualified mortgage broker directly to learn more about its mortgage products and your eligibility for such products.