Good News and Positive Numbers For Wilmington NC real estate ( click on graph for more statistics)
Call us if you are thinking about selling your home.
We will be glad to give you advice
12 Signs Housing Recovery Is Taking Hold
If you’ve been one of those would-be home buyers on the proverbial fence, now is the perfect time to get off and make your move! All signs point to right now being a great time to buy in our local housing market — for far more reasons than historic low interest rates alone. We can work with you to take advantage of these truly extraordinary conditions to buy now. From discovering how much home you can afford to uncovering the best deals in our area, we will share with you the insider info you need to buy your next home today. Here are 12 signs why it’s a great time to make a move toward buying in this market.
1. Incredible Interest Rates
Interest rates are at historical lows. It’s hard to walk away from fixed-rate mortgages with low interest rates that can keep your monthly payment manageable for the life of the loan. Because your interest rate is low, you can afford more home than you would otherwise be able to buy.
2. Financing Back On Track
If you need a loan, lenders are ready to help. Once you provide evidence of your income and job history, a down payment and good credit score, you’re more likely to get a loan than at any time during the recent past.
3. Motivated Sellers
Whether it’s a homeowner who needs to relocate quickly or is being forced to short sell or it’s a bank selling their foreclosure property, there is no doubt that many sellers today are motivated. They want to get their homes sold and will consider your offer seriously, putting you in the driver’s seat during negotiations!
4. Fewer Buyers
Because so many would-be homeowners are still sitting on the fence waiting or don’t have the credit score needed to qualify today, your competition for buying now is going to be less than in the near future. Take advantage of that to start shopping!
5. Wide Selection
The number of homes available is still good, giving you a selection to choose from and some negotiating power. (Availability varies by price. Ask us for the latest listings.) Tip: If you feel like taking your time finding a home, beware that the true gems in the real estate marketplace are being snapped up fast!
6. High Affordability
The mortgage payment on a median-priced home at today’s average interest rate is the smallest percentage of median income in years, according to the National Association of REALTORS® Housing Affordability Index. Your home-buying power today is near an all-time high!
7. Home Prices Are Trending Upward
The days of rock-bottom prices are already history, especially for move-in-condition homes. You can still find a great deal on a home, but you need to act fast because the best-priced homes in the best condition don’t last long in our area.
8. Owning Vs. Renting
Rents continue to rise, often putting mortgage payments (principal and interest payments) below the average rental rates. For you, homeownership costs can be lower than renting!
9. Mortgage Deductions
The deductions for home mortgage interest and many other homeowner-favored tax breaks create a range of more great reasons to buy a home and get money-saving tax benefits every year.
10. Fix-Ups Abound
If you’re handy around the house and don’t mind if the home you buy isn’t in perfect move-in condition, you have even more options as a buyer. There are many homes that need work — sometimes just new paint and carpeting — and are available at a discount.
11. National Trends Are Not Ours
What you hear on the national news about “average” home-price trends simply does not apply when you look closely at our area. We know our real estate market best and can tell you exactly what is going on here in the neighborhoods you’re most interested in moving into.
12. The American Dream
Owning a home is still a goal of many Americans. To have a place to call your own, to customize it to your likes and to be able to show pride of ownership is what it’s all about. The American Dream is still attainable. Contact us and let us show you how!
To search all Wilmington NC real estate www.cbbaker.com or on your phone at mobile.cbbaker.com