And it is going to HURT!
Though various mediums(blogs, Facebook posts, twitter feeds, etc) I have been sharing various mortgage companies, Realtor analyst data and my own input on the pressure on interest rates.
Though the rates are not out of hand, the handwriting is on the wall and it won't be erased any time soon.
Add the strengthing home prices seen between 2012 and 2013, you find that the cost of delay is over $200 per month! That equates to over $82,000 over 30 years.
Look at the data for yourself:
If you have been waiting to sell or to buy, don't think that you missed out! That is very limited thinking. Sure you didn't buy Google either at $45 so can be upset that it is over $1000 now. Yet, I doubt it is what wakes you up every day.
The same is true of missing out when prices were at there bottom two years ago and interest rates were lower. Prices are still very
sharp in most of the country and in Hampton Roads specificially. And rates are way way below historical averages(7.5% range).
Thus, the getting is still very good.
So don't wait!!! Now is the time to sell and downsize or upsize.
Now is the time to STOP paying rent and save by owning a home.
What are you waiting for??????