I saw a Trulia article today that said the new generation of buyers, 18-34 expect to own a home in their lifetime, and hopefully within 2 years.
The majority of people surveyed expected home prices to go up in the next few years.
Right now the interest rate for 30 years is 3.25%, and at today's prices that is a great buy. So I would advise that if you have a down payment of 3.5% or more, if you have a credit rating of 620 or more, and you have had a job for 2 years, that you'd be "not so smart" to put off buying, because if the prices alone go up, that means more money in monthly payments, and should the interest rates also go up, that would mean even higher payments, which is great outlay of $$$ over the 30 years.
My advice, buy now!!
A realtor in Texas. I want to provide interesting real estate articles to keep readers current on what is happening in real estate and other topics of interest! With interest rates at all time lows, a shadow of repos to hit the market after the election, the downgrading of the US, and other important news, real estate has a major role to play on whether our country's economy is strong or flat or weak.
Showing posts with label home buying expectations. Show all posts
Showing posts with label home buying expectations. Show all posts
Thursday, December 27, 2012
Subscribe to:
Posts (Atom)