5 Reasons Why Now is the Time to Buy
Home Loan Rates are Lowering
- Right now both 15 and 30 year fixed loan rates are below 4% nationally. This indicates that banks are willing to loan and that you could get more loan for your money than before the recession.
Unemployment is Low and Payrolls are rising
- Low unemployment means that there is more money in people’s pockets and more potential for spending. Bigger Payrolls mean that companies are spending more money on employees. Both of those factors are good for the housing market more people can buy homes, improve their homes or invest in paying off their home loans. These reasons why banks offer lower rates and keep lowering them.
The Demand for New Homes is Outpacing Supply
- More money in people’s pockets and bigger budgets mean more people want dream homes built. This means fewer people want to rent more people want to buy. This as well forces banks to keep loan rates low.
If You Own a Home it’s Value is More than Likely Greater than it’s Liability
- In general home prices are rising for all the reasons listed above. This means that homeowners have equity that they can cash in on and move up. It is currently a seller’s market so a homeowner can win in any situation. Investors are buying up lots in bundles from all over the country.
Sell High and Buy Low
- Right now more than ever, the opportunity exists to take advantage of selling a home for greater value than it’s liability and buy a newer home at low cost meaning lower barrier to entry. Nothing last forever at some point supply will meet and exceed demand in the housing market, for one reason or another bank interest rates will rise and the market will shift. But right now there is a perfect storm for equity homeowners to cash out and move up. Now is the Time to Buy.