Whether you are a first time or a move-up buyer, there are two factors that will impact the amount of house you can afford in your price range: home prices & mortgage rates.
Let’s look at what the experts are predicting over the next twelve months for these two areas:
Over 100 economists, real estate experts and investment & market strategists were recentlypolled as a part of theHome Price Expectation Survey. They were asked to project where home prices are headed. The average value appreciation projected over the next twelve-month period is approximately 4.4%.
MORTGAGE INTEREST RATES
In the latestEconomic & Housing Market OutlookfromFreddie Mac, they predict that the 30-year fixed mortgage rate will be 4.7% by this time next year. As of last week, the Freddie Mac rate was 3.69%.
What does this mean to you?
If you are afirst-time buyercurrently looking at a home priced at $250,000, this is what it could cost you on a monthly basis if you wait until next year to buy:
If you are amove-up buyercurrently looking at a home priced at $500,000, this is what it could cost you on a monthly basis if you wait a year to buy:
With both home prices & interest rates projected to increase, waiting to buy could put a serious dent in your family’s wealth.
Author:Matt Watson Phone: 214-417-9171 Dated: April 3rd 2015 Views: 377 About Matt: ...
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You're excited about your next big move: You want to buy, build or sell a home in central Dallas, the urban heart of high-style Texas living. But you don't want to fight with paperwork or negotiate details. You just want a real estate agent who can.
I'm Matt Watson. I've worked with young professionals looking for upscale, uptown residences as well as empty-nesters looking to scale down and kick back. I've sold condos, townhouses, lofts, high-rises and homes (historic and otherwise) all over Dallas. And I know how to make your real estate purchase or sale easy and hassle-free.
If you're buying a home, I will:
Help you find a resid ence that matches your lifestyle.
Give you instant access to the Dallas Multiple Listing Service.
Help you find financing that works.
If you're building a home, I will:
Help you locate the right building site.
Help you select the home style, size and amenities that fit your neighborhood.
Help you select a qualified builder and coordinate construction.
If you're selling a home, I will:
Price your property based on market conditions and your personal goals.
Help you enhance your home's market appeal.
Market your property to the right buyer, not just any buyer.
And whether you're buying a home or selling a home, I will:
Always be your advocate and work in your best interest.
Always give you the facts you need to make the right decisions.
Always negotiate the details and handle the paperwork.
It's that simple. Welcome to the Matt Watson way of doing business.
Excited About Buying A Home This Year? Here’s What to WatchAs we kic
"Matt Watson was referred to us by a friend who had recently purchased a home with Matt’s help and guidance. She was delighted with Matt’s results in finding her the perfect home and she felt he would do the same for us. Matt was perfect for us as well. Matt took the time to get to know us personally so he could better gauge the best homes to show us. He payed very close attention to what we liked and didn’t like in properties and neighborhoods we were shown. Matt is extremely organized and doesn’t like to waste clients’ time so he was careful to show us only properties in our price-range and with the amenities and floor-plans likely to work best for us. The end result was Matt very creatively helped us to purchase two condominiums which we were able to join together to create one larger unit. It is the perfect home for us and we could not have done it without Matt. In addition to finding great properties, Matt was very skillful at negotiating prices and timing. We were delighted with outcomes in all of these areas. We are currently debating whether to invest in a couple of rental properties and we would once again ask Matt to guide and assist us."