What is the big deal about an interest point
My last few blogs have been about the lack of inventory and how the real estate market is swinging back to a sellers market. We are starting to see appreciate in almost all states and at 3% to 5% in the Asheville NC and Hendersonville NC areas.
We have buyers calling from Fla, seeing listings on the internet and wanting to make offers sight unseen, with intentions to preview the home during the Due Diligence period. The buyers are hearing how quickly homes are going under contract and they don’t want to miss out on a great deal!
But with all of this information rampant on the internet, TV and other medias, there are some buyers out there who are saying, “I think I will wait and see if the prices come back down”.
Well, let me give you another reason why NOW is the time to invest in real estate. Interest rates. In Fall of 2012, the interest rates hovered around 3%. Now, since January 2013, interest rates have started inching up.
The interest rate has been hovering around 3.4% lately, but if the Mortgage Bankers Association is right, it will creep up to 4.4 percent by the end of the year. If you take a look at a $200,000 mortgage at 3.4% and also at 4.4% you will see the difference it makes in your monthly payment.
A savings of over $100 a month on your monthly payment, the fact that home prices are creeping up are two great reasons to invest in real estate now.
If you are looking for a home in Asheville NC or Hendersonville NC area and not working with a Realtor, my firm, Exit Realty Vistas would love to have the honor of helping you purchase or sell your next home.
Your real estate marketing expert for the Asheville, Hendersonville, Fletcher NC areas. Providing the most comprehensive real estate site for all of the Asheville area is our goal! (828)776-8100. Exit Realty Vistas