WHY BUYING IS STILL AN IMPORTANT OPTION
Many of you know that my family and I moved here from Florida a little over 5 years ago. We still learn new things about Michigan life and culture. For example, one of my best friends here suggested that our boys go outside and look for antlers...since now is the time of year when the deer shed them. Who knew? To my complete shock, my son came home a short time later with an actual deer antler, found not on etsy, but in our own backyard! Michigan Spring!
As far as Real Estate goes, many of you know that we are still in a strong seller’s market. That means homes are selling in record time, many times above asking, if properly priced and marketed. If you are considering selling your home, we would love to help!
However, I still believe that now is a perfect time to lean towards home buying!
Let me share some facts from a class I attended taught by Dr. Ralph DeFranco, the Global Chief Economist for Mortgage Services and ARCH MI.
WHY IT’S STILL A GOOD TIME TO BUY A HOME:
- Home values are forecasted to keep appreciating...which is favorable for homeowners...yet on the flip side, unfavorable for buyers who wait longer than they need too.
- Interest Rates Rising: a stronger economy and job market, as well as tax and policy changes in Washington all point to one thing: a rise in Interest Rates...the higher the rates, the less ‘home’ one can afford, and the more they will pay in interest over the life of their loan.
- Rent prices are rising higher than inflation! Put your money towards paying off your own mortgage and building your equity.
- Don’t Fear Another Bubble Bust: Our seller’s market is based on low inventory, a decrease in new construction, and an increase in demand for homes. According to the ARCH MI Risk Index, homes across the US are considered less than 4% overvalued. What this means is that there is not likely going to be a ‘bubble burst’ in home values like we all experienced 10-12 years ago. Quite the opposite.
So, if you are wanting to buy a home now, or in the near future, I would love to invite you out to one of our Free Home Buying Workshops. I have teamed up with a mortgage lender, and a title agent, and we will unpack the financial and real estate side of the home buying process.
This is a free service that we offer to our communities, so please share with anyone that you feel would benefit from our workshop!
(And...if you want to talk about buying, but cannot attend, please call me directly.)
DETAILS FOR THE WORKSHOP:
Thursday, April 26th, 7-9pm
Great Lake Crossing Office Building
1301 W. Long Lake Rd
Troy, MI 48098 (look for the directional signs)
Email, Call or Text me to guarantee your spot.
*Snacks and drinks to be provided.
Enjoy your weekend, and I hope we all get some time in the sun!