4 Reasons To Buy A Home This Fall In Oregon

Dated: 09/13/2017

Views: 236

4 Reasons to Buy a Home This Fall in Oregon!

4 Reasons to Buy a Home This Fall! | MyKCM

Here are four great reasons to consider buying a home today, instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage 

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It's Time to Move on With Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.

If purchasing a home for you and your family is the right thing for you to do this year, buying sooner rather than later could lead to substantial savings.

Latest Blog Posts

Portland Oregon Area Residential Real Estate Review January 2018

January 2018 Residential HighlightsThe Portland metro area saw plenty of pending sales and new listings this January. Pending sales, at 2,311, outpaced January 2017 (1,990) by 16.1% and December

Read More

Two Major Myths Holding Oregon Home Buyers Back

2 Major Myths Holding Back Home Buyers Tuesday January 30th, 2018  Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up BuyersUrban Institute

Read More

If Your Considering Selling In Oregon Act Now

If You’re Considering Selling, ACT NOW!!  Thursday January 25th, 2018  For Sellers, Housing Market Updates, Move-Up BuyersDefinitely an aggressive headline. However, as

Read More

Why You Need A Professional On Your Team When Buying A Home

Why You Need a Professional on Your Team When Buying a HomeTuesday January 25th, 2018  First Time Home Buyers, For Buyers, Move-Up BuyersMany people wonder whether they should

Read More