With rising rents, fallen home prices and still historically low interest rates- is now a good time to buy a house?
In the US it has always been more attractive to own a home over renting. However, in the last few years for many renting was a must. After the housing crash some people weren’t able to buy a house or weren’t ready to become homeowners again– at least not right away. They would rather rent until they feel comfortable again investing into the housing market. Landlords have been able to really relish in the housing decline. We have seen rents rapidly increase. Rising rents can sometimes make a mortgage payment look good again. Especially when you consider the mortgage interest tax deduction. Although, having a landlord just a phone call away to fix that leaky sink or replace the never ending running toilet often times keep renters from making the home ownership plunge.
2007 marked the beginning of drastically dropping real estate in our areas. In the past year we have seen those home prices finally start to increase again. The Phoenix, AZ market saw large swings in home prices. We are now hearing that the inventory has leveled out and we should see an equal playing field for both buyers and sellers.
Rates are still low. Can you afford to miss the boat on that lower rate? Yes, we have seen a small increase in interest rates, however historically they are still very low. According to market reports, housing experts expect rates to creep up in 2014. Will the same home that you are interested in now be within your buying power if rates rise a point or two?
Making the decision to purchase a home is a big one and requires a lot of thought. Only you will know when you are really ready to dive into home ownership. When you do, always remember to call a PRO! Barry Home Pro.
The holidays are a time of reflection for many. A time to reflect on the past, present and future. During this time I like to reflect on my business and past clients.
While being an expert real estate agent is important to me, there is nothing more important than using the resources that real estate has afforded me to be able to “GIVE BACK.” I am grateful for the Arizona real estate market and all of my many clients that help make me successful. There are many great things that come from being grateful. Being grateful makes you happier and healthier. It allows you to love what you do because you are so thankful for being able to do that job every day. When people see how much you love your job and how good you are at it, they are more likely to not only utilize your services but also refer you to their friends and family. I express my gratitude by giving back, how do you?
Today, I challenge my readers to do a 10 day “Give Back Movement!” Every day for the next 10 days, go out and do something nice! Send me your stories and how it changed your day, month or life! Here are some easy ways to start your movement.
1. Gift your favorite book to someone. In the sleeve of the book, write a small note as to how that person has inspired you.
2. Reconnect with an old friend. We never know what is going on in other’s lives, so it always nice to take the time to reach out and ask how someone you haven’t spoken to in awhile is doing.
3. Give a surprise gift. The gift can be home made and non expensive, it is just a token to show another that you are thinking of them.
4. Clean up litter on your street. This will show your neighbors and other community leaders how important your community is to you and inspire others to join in.
5. Instead of gifts for Christmas or people bringing food on Thanksgiving, ask them to do a random act of kindness and come prepared to share at the dinner table.
Thank you for following Barry Home Pro!