Is now the time to buy a home? With interest rates remaining at historic lows & a portion of the Puget Sound region poised to rebound, many of the experts suggest that the answer to question is yes.
According to Moody's economists, one of the communities ready for that rebound is Tacoma (and in my opinion, some of the surrounding areas). Tacoma is the second largest city in Washington, is close to Seattle and Joint Base Lewis McChord (JBLM). Home prices were cited as having fallen in the area, but given the diverse economy, location to available jobs, and the obvious impact of a deep-water international shipping port...the area is ready to recover. Buying when the prices are depressed sounds scary to many, but the old adage is buy low & sell high! Buying just makes sense when prices are low, and interest rates make more home affordable.
Look at an example of how interest rates can impact how much home you can buy. You can try out a variety of available real estate calculators online and discover how much you can afford.
A $200,000 home has the following payments (30 year fixed, principle & interest without including hazard insurance or mortgage insurance when applicable):
4% - $995
5% - $1074
6% - $1199
7% - $1330
As the market rebounds, so will the prices...a buyer's market now could become a seller's market quickly. If you are looking for a home and have been waiting, the answer is yes....let an experienced RE/MAX broker assist you in finding your next home.
Author:Vicki McLellan Phone: 425-301-2595 Dated: August 17th 2011 Views: 1,550 About Vicki: I'm a full-time licensed professional and love what I do. I use that enthusiasm to make the process ...
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""01/06/2015 - Reviewing Vicki McLellan, email@example.com Bought a Single Family home in 2014 for approximately $250K in Olympia, WA. Local knowledge: Five Stars Process expertise: Five Stars Responsiveness: Five Stars Negotiation skills: Five Stars Buying our first and second homes with Vicki were wonderful experiences. She has an APPARENT wealth of knowledge from her experience and was extremely proactive and diligent in helping us navigate the home buying process (one of which was a tedious short sale). I've also referred several friends to Vicki who all ended up buying with her help and they had nothing but good things to say. if you need an excellent, patient and pleasant realtor then you need Vicki.""