Why You Should Buy a Home Now

Piggy Bank

Reasons to Buy a Home Now: Interest Rates & Price Trends

We frequently speak with people who are considering buying a home at some point in the future — whether it’s a few months, a year or a few years out. And while there are people who can’t qualify for a mortgage, if you can, it makes sense to explore buying a home now.

The Joint Center for Housing Studies at Harvard University recently released their 2015 State of the Nation’s Housing report. The report concentrated on the challenges renters in this country are facing because of the diminishing supply of quality rental units and dramatically escalating rents.

However, there was also information buried within the report that revealed that now is definitely the time to buy your first home or move-up to the home of your family’s dreams. With home prices still below peak values and mortgage rates still near historic lows, the monthly mortgage payment on a median priced home is less than at almost any time in the last 25 years.

Here is a graph which helps visualize the data from the report:

median-mortgage-payment

 

And here is an illustration of how the interest rate impacts your monthly mortgage payment:

cost across time

 

Bottom Line

With home prices increasing and mortgage rates projected to increase, now is the time to buy. While home prices in Long Beach and surrounding communities have increased over the past few years, there are still some affordable options.

Whether you’re considering your first home purchase or you’ve already bought and sold many homes, our Buyer Guide will provide you with great tips and information on how and when to buy a home. Download a free copy by filling out the form below.

You can also search all homes currently available here:

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About the Author

Shannon Jones has been selling real estate since 1998 and specializes in listing and marketing homes. She has consistently been one of the top Realtors in the Long Beach area. Prior to her award-winning career in real estate with the Shannon jones Team, Shannon has had successful careers in journalism and public relations. She holds a bachelors degree from UC Irvine and a masters degree from UC Berkeley. Shannon holds E-Pro, CDPE (Certified Distressed Property Expert), and PSC (Pre-Foreclosure Specialist) certifications. Shannon is very personable and maintains a very strong moral compass, always putting the best interest of home buyers/sellers above monetary goals. A California native, Shannon enjoys gardening, travel, reading, cooking and poker when she’s not selling homes MY DESIGNATIONS Lic# 01247705 | CDPE (Certified Distressed Property Expert) | E-Pro | PSC (Pre-Foreclosure Specialist) MY SERVICE AREAS Anaheim Bellflower Buena Park Carson Cerritos Cypress Downey Fountain Valley Garden Grove Huntington Beach La Palma Lakewood Long Beach Los Alamitos Los Angeles County Norwalk Orange County Rossmoor San Pedro Seal Beach Signal Hill South Bay Westminster

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