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 18th 2011 Views: 1,554 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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"Cari is the gal who will get it done for you! She is awesome!! Cari helped us find are home last year in July and we have been so happy! Thank you so much for helping us find the home that was right for my family! She answered all are question and was always on the ball! Cari always kept us updated and was always on the look out for homes. She's great with the banks and making sure everything was fare with no secrets! Cari was a delight to work with! If I was to look for anther place I will be calling her again. When its time to sell my other home I will be calling her. Cari will find you the home you want not the home she can just sell. Not only that she became a friend! Thank you with all our hearts! We love our home!!
The Robertson Family,
Travis, Sherry and Veronica"