Health & Fitness
It Can't Hurt to Wait, Can It?
Home sale prices in Wayland are up so it's of course a lot of people who want to sell are waiting to see if they go up more. Who doesn't want to sell for top dollar? But wait...there's more to the story.
It’s been said that more money has been lost due to indecision than was ever lost because of a bad decision. Regardless of whether you agree with the statement, delaying the decision to buy in today’s market is going to cost the buyer more.
Home prices have gone up considerably in almost every market in the country in the past year and while inventories are beginning to grow, prices are expected to continue to rise. Mortgage rates jumped 1% from the beginning of May to now. They could easily reach 5% by the end of the year and continue to rise in 2014.
Many of the financial experts in the country believe that the economy will not be strong until rates are in the 7% area.
Find out what's happening in Waylandfor free with the latest updates from Patch.
The two components that move the cost of housing are price and mortgage rates. Escalation of either one will have an affect but when both are going up simultaneously, it is dramatic. It can literally eliminate buyers who could have purchased earlier.
The following example MORE
