Interest Rates Still Low

You have 3 options while the interest rates remain below 4%, depending on whether you are considering a purchase, a move, or just staying put.
1. Now is still the time to purchase before another buying season erupts, with increasing prices and added competition heating the market. Rates remain low, and inventory, though still scarce, is on the market long enough to make thoughtful decisions.
2. Now is the time to consider refinancing your mortgage to secure a low, fixed rate or to even further lower your mortgage rate, if you can achieve an approximate 1% difference to make it worth your while.
3. Now is the time for a current homeowner to consider a move either up or down, depending on their stage in life. There are various ways to take advantage of this market. If one is willing to take advantage of the differential between coastal property and property more inland, where larger and newer homes might be achieved for the same price, it might be time make a move. It might be time to downsize, and take advantage of the equity built over a lifetime of ownership. Some cash can be released from a sale, allow you to still be mortgage free, and still keep property taxes reasonable by transferring the tax base. Lastly, for a growing family, it might simply be time to upsize to another property in the same area. It will be less disruptive, with same schools, shops, and social activities. Prices are not appreciating as quickly as before and will not cause stressful and hurried decision making that typified an earlier market.
Whatever your stage in life, there are always choices!
Call Nancy at 714-496-5950 to find out yours!

Posted on March 9, 2016 at 9:47 am
Nancy Low | Category: Buyers, News, Sellers

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