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Thinking about Buying, but Waiting?
Have you been thinking about buying a new home? Are you waiting for rates to improve? We talk with people every day who are struggling with this question. The answers are unique in each circumstance, but the issues are the same. Spend a few minutes with us to talk about:
- What effect will rising rates have on your budget?
- Home prices are rising. What's the impact of waiting?
- How will rising rates affect the sale of my present home?
- What effect will buying a new home have on personal income taxes?
A) Rising mortgage rates can translate into higher payments if you only think in terms of 30 year fixed rates. However, many options are available that may work within your budget, including many variations on fixed-rate financing. It's important to examine these options before making a commitment to purchase. You'll be in a much better position to negotiate on a purchase if you already know your financing options.
B) Home values have historically increased an average of 5% per year. This is a geometric progression, not a linear one. The result is that home prices go up faster than rates could possibly go down. You may have a lot to lose and nothing to gain by waiting. Rates would have to fall 0.5% to offset the expected price increase over the next year. Right now, the most likely scenario is for rates to rise slightly.
C) You are not alone in this situation. The potential buyers of your home are struggling with the same questions. We've put marketing plans in place for many homeowners and homebuilders that attract more qualified buyers by offering them a lower payment. We can examine these same techniques to provide a marketing advantage for your home.
D) This question is very personal. We offer a tax analysis for first-time homebuyers, educating them on the tax advantages of ownership. Our move-up tax analysis is equally valuable. Your tax savings as a direct result of moving up to another home can be significant, in most cases saving hundreds of dollars a month.
Here's the important thing to remember: By focusing on your payment, not the rate on a specific mortgage type, you can make more informed decisions. If you are thinking about buying, arrange to spend a few minutes with us so you can have the answers that work for your situation.
R.E. Opportunity Network
3160 Crow Canyon Rd. #300
San Ramon, Ca.94583
Phone 925-330-6484
Fax 925-362-0849
