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Real Estate Information |
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Conditions Are Right For Buying The Higher Priced Home You'Ve Always Wanted
Higher interest rates and home prices in the past have kept home owners from purchasing larger homes. The current real estate market conditions, however, are encouraging for many home owners who want to "buy up" to higher priced homes with more to offer. If you are considering trading up for a larger and more expensive home, conditions for doing so couldn't get much better. Interest rates are the lowest they've been in two decades, and home prices in many regions are the most affordable they've been in years. You should consider a few factors before reaching a decision to trade up:
Obviously, you'll need to sell your current home before getting serious about trading up to a new one. A healthy real estate market indicates that you'll have little trouble selling your existing home. The national Association of Realtors reported in August that sales of existing single-family homes are rising steadily, especially among first-time buyers. Affordable home prices and low interest rates could make the starter home you purchase several years ago particularly attractive. If you can afford the up-front cost, you may want to consider switching the fixed-rate mortgage on your old house for an adjustable rate on a new one. This could allow you to trade up without increasing your monthly payments. The type of mortgage you choose also depends on how long you plan to stay in your new home. A good mortgage lender can advise you on whether a fixed-rate is an advantage is you're planning on staying for more than 10 years. A fixed-rate may be better for long term owners who don't want to worry about rising mortgage payments. Trading up may not be worth the move if you're planning on living in the new home for only a couple of years. You might have to stay three to five years for your house to appreciate enough to recoup the closing costs. Conditions for a move-up haven't been this good in many years, and you may not want to wait much longer to consider it. An experienced real estate broker can help you decide if buying a new house now is a good investment for you. About The Author W. Troy Swezey is the author of "CONDITIONS ARE RIGHT FOR BUYING THE HIGHER PRICED HOME YOU'VE ALWAYS WANTED." As a Realtor at Century 21 Paul & Associates, he has helped many individuals with their real estate needs. Visit his web site to download his free e-book, "REAL ESTATE SECRETS EXPOSED." http://www.TroyIsMyRealtor.com or mail to: TroyC21@usa.net
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Yahoo Finance Singapore Q&A: The role of AI in the future of real estate Digital Journal Homestead property tax credit explained OC Today-Dispatch What $10M can buy in one of Oregon’s priciest cities OregonLive.com Private real estate poised to outperform in 2026 InvestmentNews Ask the Realtor: Real Estate Q&A with Kathleen Goneau, Your Concierge Realtor Nov. 28 edition Community Advocate Buyers are stepping up, sellers are pulling back RealEstateNews.com 'The upside of the public real estate market is still ahead of us' The Jerusalem Post Assetrix: Meet the founder building the NASDAQ of African real estate with blockchain technology Business Insider Africa Russell Real Estate Services and Mayo Realtors Join Forces Business Journal Daily UAE fund invests in Wellington equestrian, real estate heavyweight The Business Journals Compass v. Zillow hearing: Who made the stronger case? RealEstateNews.com Global bidding activity improves as commercial real estate investment cycle gains momentum Institutional Real Estate, Inc. Silicon Valley real estate development lowest since 2013 San José Spotlight Home sales rise in Delaware in October. Prices down from record high Delawareonline.com Vacant Bronzeville mansion once planned as a Black history museum gets a rescuer Crain's Chicago Business Places This Week: An estate built by Belleair’s first mayor St Pete Catalyst ARE Investors Have Opportunity to Lead Alexandria Real Estate Equities, Inc. 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