In today’s real estate market. most Parkland and South Florida buyers mainly focus on price when shopping for a new home. Also, sellers are mainly concerned with short-term prices as it relates to where home values are projected to be headed in the next 6-8 months. Unlike sellers, buyers should focus on the long term costs of homes.
In November, the Mortgage Bankers Association (MBA), the National Association of Realtors, and Fannie Mae and Freddie Mac all projected a 1% increase in mortgage interest rates in the next 12 months. This same group also projected that home prices will continue to rise. Their opinion of the projected amount for the home price increases is not a majority consensus. But, what does this all matter to buyers that are considering buying homes now or waiting for up to 12 months? MORE COSTS out of pocket per month! Above, please see the simple graph as a demonstration of the impact on the rise of interest rates in the coming months to a year.
The simple chart also does not take into consideration the potential increase in property values over the next year. As a result, it is certainly the perfect time to buy and sell real estate. Unless renting after selling homes, sellers will need to move to new properties to live, and they too can NOW take advantage of low interest rates and current market prices. The long term costs associated with purchasing homes, later than sooner, will be thousands of dollars per year out of each buyer’s pocket with 15-30 year loan terms.
My team and I will be working during the holidays and are available to help you with all of your real estate needs no matter if you are looking to purchase a home or sell your existing home in Parkland or South Florida. Please give me a call directly at: 954-609-0591. I would love the opportunity of helping you find the right home that fits your budget and assist you in answering all of your questions and concerns about buying or selling real estate.
If you are thinking about selling your home and interested in knowing what your home is currently valued at, please visit my What’s My Home Worth page or contact me at: 954-609-0591 to schedule a private, no hassle listing appointment. I look forward to earning your business and trust.
Our best marketing is YOU! Please visit our Client Testimonial Page to read more about the experiences of working with our team. Call me for your customized marketing plan and comparative market analysis! Let my full service and aggressive marketing campaign work for you and your family! Please give me a call at: 954-609-0591.
I am a Parkland real estate specialist and Parkland resident. Over the past few years, I have earned the distinction of being one of the top real estate selling and buying agents in the City of Parkland and in West Broward County and a top 1% Nationwide Realtor. I am also proud to announce that I am currently the # 3 RE/MAX Florida agent. If you would like to schedule a buyer or seller meeting with me, please feel free to call me directly at 954-609-0591 or send me a note here.
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