This summer is a great time to buy a home
Here are four great reasons why you should consider buying a home today instead of waiting!
1. Prices Will Continue To Rise.
Home values will continue to appreciate for years. Waiting to purchase no longer makes sense. CoreLogic’s latest Home Price report predicts prices will continue to increase at a rate of 5.2% over the next year.
2. Mortgage Interest Rates Are Projected To Increase
An increase in mortgage interest rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have increased by half a percentage point already in 2018 to around 4.5%. Most experts predict that rates will rise over the next 12 months.
3. Either Way, You Are Paying a Mortgage
As a home owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
4. Its Time To Move On With Your Life
Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.
If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to savings.
Information provided by KCM Crew.
Here’s May 2018’s Monthly Indicators Report from the Greater Boston Association of Realtors® showing Boston real estate market trends.
May 2018 Greater Boston Real Estate Market Trends
Steady price appreciation, rising interest rates and a shortage of homes for sale in Greater Boston resulted in slower sales of single-family homes and condominiums in May according to data released by the Greater Boston Association of REALTORS® (GBAR).
Sales of single-family detached homes experienced a modest 2.4 percent decline in year-over-year sales in May, as 1,217 homes were sold compared to 1,247 homes sold in May 2017. Despite this softening of sales, this was the fifth highest sales volume on record for the month of May and reflects a 43 percent increase over the 853 homes sold in April. The condo market had a similar cooling in sales volume as 1,060 units were sold last month, which compared to 1,091 condos sold in May 2017 is a 2.8 percent decrease. This was the eighth highest condo sales volume in May and reflects a 23 percent gain in units sold from 859 one month earlier.
- May condo sales DOWN -2.8%
- Median prices UP +4.8% ($550,000)
- Active Listings DOWN -0.3% to 1,955
- Listings added to the market UP +7.5% over last year (1,738 from 1,617 in 2017)
- May single-family home sales DOWN -2.4%
- Median prices UP +5.4% ($629,000)
- Active Listings DOWN -5.3% to 3,080
- Listings added to the market UP +9.6% over last year (2,506 from 2,287 in 2017)
Interested In Specific Neighborhood / Area Real Estate Market Trend Data?
Designated Residential Real Estate Specialist
As a certified and designated residential real estate specialist, I have the knowledge, experience and expertise to guide you in the important financial decision of buying or selling a home. I have earned various real estate designations over the years to further my skill and proficiency. I am a Certified Residential Specialist, Accredited Buyer Representative and hold the e-Pro and Green designations from the National Association of Realtors®.
I most recently expanded my speciality training and have received the Certified DRS Agent™ designation and The Certified Luxury Home Marketing Specialist® (CLHMS) designation.
Endorsed by the largest medical associations for doctors and doctors in training. The Certified DRS Agent™ designation is for agents who are serious about and committed to serving the needs of the medical community. Only agents, such as myself, that have demonstrated a required level of professionalism and success and who wish to enhance their presence in the medical community are in the network. As a DRS Agent, I am held accountable to a high standard within the network.
I have also earned The Certified Luxury Home Marketing Specialist® (CLHMS) designation that assures affluent buyers and sellers that as their agent, I have the knowledge, experience, competence, and confidence they require. I have completed the required training, met sales requirements and have proven performance in the upper-tier in the Greater Boston real estate market.
I enjoy working with a wide variety of clients and am committed to serving their specific needs.