Door of Opportunity
How many times do we wait to be in that position where the stars have aligned to allow us to do something awesome, accomplish that next thing on our goal list, or take that next step in the game of life? For some it's planning that trip to Disneyland at the right time when the kids are all the right ages and there are funds to spend on the perfect hotel accommodations. For others it might be being able to buy the right kind of furniture for their home that'll be baby proof, toddler proof, or most accommodating for your teenagers and their friends. Timing is everything, and doors of opportunity appear before us when we consider all of the details around us and how they relate to our desired destination.
Home buyers need to be aware of their current opportunity created by the winning combination of our current interest rates and our current home prices. The short story: rates are at historical lows (just in case you haven't heard), and home prices that lowered to weather the recession are creeping back up. Home buyers acting now in this market are benefiting; the amount of square footage they can afford to finance now to suit their family needs will not be the same in the near future. Have a look at some of these details below:
- Existing Home inventory is dropping. When demand increases, and supply stays the same or decreases, prices go up.
- New home sales are strengthening. Some say that 2013 could reach 600,000 which would double 2011 sales.
- Pending home sales are strong. Our current landscape is reflective of the pending home sales numbers that were due to 2010's tax credit incentive.
Bottom line, people are comfortable once again to go out and stake their claim on a new home. Kind of like that ending scene in the movie 'Far & Away' where Tom Cruise is racing on his horse to get himself the land he feels he deserves…? Well, we digress.
If you've been thinking about your first or next home purchase, don't wait any longer to move forward. Contact one of our agents in the community that is right for you. If you have questions about lending, we partner with the best in the business. Aaron Fritz with Academy Mortage (Aaron.fritz@AcademyMortgage.com) can answer all your questions and help align your financing so you can reach your desired destination.