Why You Should Buy A Home Right Now

This week, we are going to look at the three financial reasons to buy a home now instead of waiting: prices are rising at an accelerated rate, interest rates are increasing and rents are skyrocketing. – The KCM Crew

I couldn’t agree more with this statement! Houses are selling in days, for more than list price and quicker than they have in years. This has not extended into the outlying areas however that will come in time.

The price of a home is the major consideration when deciding whether or not it makes financial sense to purchase a house. Experts are not only projecting that house values will increase in 2013 but they are also projecting interest rates to go up as well. With higher interest rates your buying power will decrease along with the actual cost of the home.

It took agents several years to get sellers realistic about their listing prices. Now that we are pricing more realistically inventory is low. A stable market is 6 months of inventory and the Triangle is down to 4 months. That is an indicator that the market has shifted from a buyer’s market to a seller’s market.

Now the work begins to educate buyer’s that these homes are priced well, and priced right and that they aren’t going to get thousands of dollars off the asking price. We are coming out of the bottom and the lack of inventory should be their sign that that is truly happening.

So, what is a buyer and seller to do? Listen to your agent, you have hired them for their expertise in the market and their market knowledge. They should be utilizing resources to determine where the market is headed.

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