The reasons to buy now are stronger than ever. The National Association of Realtors has reported that the Housing Affordability Index is the most favorable it has been for buyers for over 40 years.
Don’t make the mistake of waiting for the spring market. This over-hyped market brings bidding wars and over priced homes of overly- optimistic sellers. Today’s market with less competition gives you more time to consider a home’s potential and this could work to your advantage. Many homes were overlooked earlier since they lacked the WOW factor. These homes offer you the opportunity to put your personal stamp on the home…you aren’t purchasing someone else’s taste.
So take a look at homes that have been on the market for a while. Any homeowner who is willing to let folks walk through their home in this weather ais serious about selling and may be market-weary and more willing to negotiate than previously.
Finally, remember that the Fed has begun “tapering” and will begin pulling back the asset purchases of the Stimulous Package that have kept rates historically low.
Wouldn’t you rather be planting bulbs in your garden this spring than fighting in bidding wars?
Take a look at what the market has done for homeowners in some of the communities we serve. It might be time to get on this appreciation bandwagon.
Median Sales Price Increase 2013
BACK BAY 7%
N. READING 5%
Contact RE/MAX Leading Edge to learn more.