A recent survey showed that 3 out of 4 future home buyers (who are not first time buyers) plan to move up to some form of a ‘better’ home. The breakdown:
- Move to a significantly bigger home (49%)
- Move to a nicer home (17.5%)
- Move to a nicer part of town (8.6%)
If you or your family falls into any one of these categories, you should strongly consider making the move sooner than later. The ‘cost’ of your new dream house will be determined by two factors: the price of the house and the mortgage interest rate. Both are projected to increase this year.
Prices Set to Increase
In the recent Home Price Expectation Survey, 105 leading housing analysts called for a 3.1% increase in home values by the end of 2013.
Mortgage Interest Rates Projected to Increase
According to the Mortgage Bankers Association, after reaching record lows in 2012, the 30 year mortgage rates are expected to creep up slowly in 2013 to 4.4%.
Now is a great time to buy the home you always dreamt of owning. However, the longer you wait, the more it will cost.
If you are thinking of buying a home in Westport MA visit www.DistinctiveHomes-NE.comfor a free list of homes for sale in Westport MA.
If you are thinking of selling your home contact me for a FREE Current Market Analysis and to learn about our Market Plan to get your home SOLD!We work with one going in mind, YOURS!
Noemi Cardoso
Local Office. Local Agents. Local Knowledge.
William Raveis Real Estate
911 Main Rd - Westport MA 02790
Cell: 508-558-1945
www.DistinctiveHomes-NE.com
noemi@DistinctiveHomes-NE.com
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