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Results For Tag: home prices

Why You Should Not Wait To Sell

June 17, 2013 |  Article By :   | 

mortgage rateHousing prices are on the rise and are expected to continue rising so you should wait to sell your home? Wrong! In most cases, when you sell your home, you are going to be buying a new home. Yes, the price of your home will be higher in a couple years and the price of the new home will also be higher but what many sellers aren’t thinking about is the interest rate. Most forecasters say that the interest rate has already bottomed out and will be on the rise. What does this have to do with selling your home now or down the road when it may be worth more? The loan on your new home will cost you more because of the higher interest rates. Currently mortgage interest rates are 3-4% but in a couple years they are forecast to be 5-6% and on a 30 year mortgage for a $300,000 home, that adds up to a lot of extra costs in mortgage payments, thus making the home more expensive. Right now it is a seller’s market making it a great time to sell a home, you can find a home to buy and still get in on super low interest rates. Don’t wait – sell your home soon!

Why Own A Home

June 10, 2013 |  Article By :   | 

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Why own a home? Need some good reasons to buy your own home? Take a look at this short list.

  • Prices are still fairly low and so are interest rates. They say prices will increase by at least another 5% in the next year and interest rates may also rise, so get in as early as you can.
  • Rent is normally a variable that is only set for a short amount of time and seems to always increase. If you buy your own home and get a fixed rate mortgage, your “rent” will be the same for the life of your mortgage.
  • Rather than paying someone else for your place of residence, you are paying yourself with your mortgage payments. You can look at it as a form of savings plan as the equity builds in your home.
  • Mortgage interest is still a tax deduction. If you buy soon, you get a double bonus with the low interest rate and being able to use it as a deduction.
  • Paying your mortgage on time every month as well as your other bills will help get you a great credit score.

If you are on the fence about buying a home, now is the time to get off that fence and do it while homes are still a great deal!

Home Price Increases

May 31, 2013 |  Article By :   | 

According to the KCM Team home prices are expected to be on the rise as much as 5.4% in 2013.  As I have said many times, if you want to buy, you should buy soon as not only prices are on the rise, but interest rates will go up as well. If home prices do rise some 5% in the next year, what does that do to the prices of homes? Take a look at the infographic below from the KCM Blog to see what a home costs now vs. in a year from now.

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Why You Need To Buy Now

February 12, 2013 |  Article By :   | 

5853529_sIf you have been thinking about buying a home but have been putting it off, you really should get ready and buy sooner rather than later. Many buyers have just been waiting as prices continued to sink as well as interest rates but things are all starting to change and if you don’t get out and buy soon, you may end up paying a lot more for many reasons!  I have made a list of 5 of the biggest reasons to get out and buy now.

  1. Mortgage rates – while they are still at historic lows, they are forecast to start rising in 2013
  2. Rent is skyrocketing – right now for many, it is less expensive to buy than to rent, why not pay yourself that rent money
  3. Home prices are rising – while the housing market is far from a complete recovery, prices have started to rise and this trend is expected to continue
  4. Mortgages will be tougher to get – the government is expected to continue to tighten the guidelines for mortgages
  5. FHA loans are going to get expensive – FHA is going to dramatically increase the cost of FHA mortgage insurance late this spring making these loans much more expensive.

Now is the time to get into that new home while the prices and mortgages are still low!