Great reasons why you should look at purchasing a home at this time is that tax returns are coming in and interest rates are at near record lows. The time to buy a home is now. Gas prices are more affordable than they have been in recent years and Fannie Mae is anticipating a 5.8 percent rise in home purchases during 2015. Generally real estate drives the economy, however during 2014 the economy was ahead of the housing market and 2015 is where it is expected that housing sales increase and set the pace. We will work hard with you to ensure that you are well educated in the Market and can avoid costly mistakes.
What we have been seeing in Goodyear, Litchfield Park, Avondale, Peoria, Glendale, Buckeye and Surprise is that move up buyers or current homeowner’s selling their homes to upgrade, are making up a huge portion of our market in Phoenix Metropolitan area real estate. They are selling their current home and using the equity as a down payment for their new home and many times getting a much lower interest rate on the new purchase. Finding your new home will be easy with advanced searches. Time is of the essence planning the sale of a home and the purchase of another one. Please contact us for more information on how you can schedule this.
The Time To Buy A Home Is Now
Some of the reason why the real estate market lagged a little in 2014 is grouped into our generations. Currently the Generation X’ers are the busiest in the real estate market. The Baby Boomers are moving on from their real estate investments. The Gen X’ers represent a small fraction of the Baby-Boomers and Millenials. The Millennials are going dictate when the real estate breakout year is going to happen. Traditionally the Millinnials frequently change jobs. Once they feel secure enough and settle into a career they will be confident to undertake a mortgage and that will bring fourth some major buying power.
Also First-time buyers have declined recently. Qualifying for mortgages has been challenging for these folks over the last 12 months. Currently first-time buyers represent a 27 year low at thirty-three percent. A U.S. Census reported that 50 percent of the people from 25 to 34 do not plan to buy a house within three years.
With interest rates still below four percent for many, and some great incentives to purchase homes today is why the growth is expected to climb this year. First-time homebuyers, Millenials, and everyone else are going to be able to take advantage of record low interest rates and save a lot of money. Not to mention if you currently own a home and may want to take advantage of moving up, or even downsizing and pocketing the extra money, the options are all out there for you to explore. Please Contact Us today to assist you with all of your real estate needs.