In the grand scheme of things, timing really is everything and it’s incredibly true in our current housing market. Overall, conditions in Cumming & Alpharetta are favorable, but as the state of real estate continually changes, it’s important to remember that such a positive trend may not last too long.
Therefore, if you’re even considering moving into a new house, rest assured that now is the perfect time to find your dream home.
Below are ten reasons why you should jump on this opportunity since doing so will allow you to reap an abundance of marketplace benefits.
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1.) MORTGAGE RATES WILL INEVITABLY RISE: Though at historic lows, there are several factors which play into the current rates, such as support from the Federal Reserve and moderate economic growth. Long-story-short, these positive dynamics may not hang around for long.
2.) FEDERAL RESERVE SUPPORTS WILL END: Speaking of support, the question remains as to how long the federal government will continue to manage rates.
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3.) HOME PRICES ARE INCREASING: With seller’s markets forming in several prominent areas around the country, homebuyers should act now before pricing trends increase even further.
4.) FHA INCREASING COSTS: In an effort to boost the FHA reserve fund that was wiped out during the housing crash, lawmakers have increased mortgage insurance premiums.
5.) HOME SALES ARE INCREASING: Home sales are on the rise in many markets, which is creating an increased demand for homes; therefore, when you’re on the hunt for your dream home, you may find fewer options to choose from.
6.) INCREASING RENTS: With rents prices increasing approximately 3% each year, taking advantage of affordable homes in the present will save you an abundance of money in the future.
7.) MORTGAGE-INTEREST DEDUCTION: Since lawmakers are increasingly proposing a cutback or even a full elimination of the deduction, it’s wise to take advantage of it now!
8.) INCREASED AFFORDABILITY: The National Housing Affordability Index has repeatedly shown high increases in home prices, which means buying now will save you money.
9.) DELINQUINCIES HAVE BEGUN TO WANE: The continued decline of mortgage delinquencies will help to improve home prices and increase the confidence of potential homebuyers looking to enter the market.
10.) DESIREABILITY IS BACK: As opposed to a few years ago, people are less worried about an unsteady economy and are more confident about getting back into the market place.
In the end, when you begin your search, it’s important to choose a lender who is reliable and trustworthy.
The majority of the loans I process are for people who are making big life changes, which is why I pride myself in going the extra mile to guide my customers through every step of the mortgage process. If you’d like to take advantage of the wonderful opportunities in the Alpharetta housing market, please do not hesitate to call me or apply online at www.OnQFinancial.com.
Pam Wright | OnQ Financial | www.onqfinancial.com | 404-445-1033
