“Is now a good time to buy a house?” I get this question a lot. Many people are in homes with a large chunk of equity, a lower mortgage interest rate than today’s rate, or the home is completely paid off. They are not sure if they should make a move now or wait for a better housing market. The focus should not be on “timing the market”, but rather on “time in the market”. Home prices continue to climb, especially in our area. The sooner you purchase a home, the sooner you start the clock on appreciation and equity. If you are waiting on that dream home, remember the saying: “The best time to buy real estate was yesterday. The second best time is today.”
Feeling Stuck in Your Home?
Many homeowners are experiencing what the real estate industry calls the mortgage rate lock-in effect. They want to move, but they’re reluctant to give up their low interest rates. Here’s something worth considering, though: You may have more buying power than you realize.
