Last week I wrote a post about why right now is the time to sell but there's also a lot out there to support the buyers side of things as well! Zillow announced today that property values are going up as seen by the national average of a 1.6% raise in rent over the past couple months. This may seem intimidating as a buyer as the prices on homes rise but in actuality this is great news! This means that a home you buy now could already be worth more within a month or two. This isn't a time to hesitate, it's a time to buy what you see and what you like.
Beyond the rising property values mortage rates are dropping according to an article from DSnews.com. VP and chief economist for Freddie Mac, Frank Nothaft, put it in simple terms saying, "Compared to a year ago, rates on 30-year fixed mortgage rates are almost 0.9 percentage points lower which translates into nearly $1,200 less in annual payments on a $200,000 loan."
Essentially as property values rise and your home is worth more, you are paying some of the lowest mortgage rates in over a year. So you're paying less while you home is worth more! That's not such a bad deal at all. So if you have even started to consider buying now is the time to do it! Don't be afraid to look around and get a feel for the market, see what kind of prices are out there and then move quickly! Homes are going fast because a lot of people know it's ideal to buy, so look around and don't hesitate when you find a home you like!