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Tuesday, July 1, 2014

WHY you can't wait to buy a home in 6 months - and NEED to buy now!

Posted: 01 Jul 2014 04:00 AM PDT
Buying a Home: The Cost of Waiting | Keeping Current Matters
Whether you are a first time buyer or a move-up buyer, you should look at the projections housing experts are making in two major areas: home prices and mortgage rates.

PRICES

Over 100 economists, real estate experts and investment & market strategists were recently surveyed. They were asked to project where home prices were headed. The average value appreciation projected over the next twelve month period was approximately 4%.

MORTGAGE INTEREST RATES

In their last Economic & Housing Market OutlookFreddie Mac predicted that 30 year fixed mortgage rates would be 4.8% by this time next year. As of last week, the Freddie Mac rate was 4.14%.

What does this mean to you?

If you are a first time buyer currently looking at a home priced at $250,000, this is what it could cost you on a monthly basis if you wait to buy next year:
First Time Homebuyer's Cost of Waiting | Keeping Current Matters
If you are a move-up buyer currently looking at a home priced at $500,000, this is what it could cost you on a monthly basis if you wait to buy next year:
Move Up Buyer's Cost of Waiting | Keeping Current Matters

Bottom Line




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This post was written by:

Leslie from Northern California.
Yes.. I am a Bay Area transplant, long before everyone starting moving up here from the Bay Area and Southern California in 1977. I believe this helps me to understand what you may be looking for. And can help you adapt to our “Country Lifestyle”. Yes, I know the greatest hiking/ boating/ camping/ fishing spots and the best places to relax! If you are moving from another area, just ask me for one of my helpful Relocations Packages by clicking on the link

I hope you enjoy your visit.

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