Why it Couldn't be a More Perfect Time to Buy

Blog Post Image
Buying

Great news, indeed, for the real estate industry.

The increase in the loan limits means you can buy more house and still take advantage of the historically low interest rates - currently at 4.3% for the 30-year mortgage. Rates are still very low by historical standards; however, there are signs that the tide is turning and we will start seeing an upward swing in rates this year - something the market has been expecting for years. Another factor to consider is that renting eats away at about 1/3 of the median income compared with only 1/5 for a home mortgage. There couldn't be a more perfect time to dive into home ownership or make the change to a new home that better suits your needs.

According to data gathered by Zillow, mortgage affordability in the country's largest metros has the DFW Metroplex in the 15 percentile nestled between Pittsburgh, PA as the most affordable at nearly 11% and LA/San Francisco as the least affordable at nearly 42/41%, respectively. This means that DFW is still in the sweet spot between being a sound investment for the foreseeable future and very affordable - whether you're looking into investing or home ownership. Keeping this is mind, don't wait too long! According to Steve Brown, Real Estate Editor for Dallas News, North Texas home sales prices hit an all-time high in March. The median price of homes sold by real estate agents in the area was $260,000 - up 8 percent from a year ago. Read the full article.

Again, DFW is a very healthy market to invest in... it couldn't be a better time. Call me today and explore your options.

 

Julie Dinsmore | REALTOR Coldwell Banker DFW | Direct (940) 368-7913 | License #0699942

 

image001