The question on everyone’s mind right now is “how will the market change with the increase in interest rates?”
There are many expert opinions out there. They run the gamut of
1) prices will continue to increase because inventory will remain low….. to a more moderate opinion of,
2) the market will slow due to decreased affordability with higher rates,……. all the way to the doom and gloom of
3) another recession is bound to happen.
For those of you who will be buying a home, acting now is in your best interest. The charts below show the cost of waiting. These charts show that the future cost isn’t just price appreciation, it is the lost appreciation, it is the higher down payment in the future, it is the higher taxes, etc that all go with next year’s price, and so on. These factors, coupled with rising interest rates should make anyone who is on the fence want to take action now.
If reading this piques your interest, call me with your questions and scenarios and I, along with my expert mortgage agent, will do an analysis for you.
See you around town,
Janice Jordan
925-580-7482
Janice Jordan is a third generation real estate expert. She has lived in Danville for over twenty years. In her spare time Janice loves to hang out with her daughter, Jenna, and go on outdoor adventures of all kinds.