We have written many times over the last 48 months
that now is the time to buy a home. Now the case can be made, if you own 1, buy
2 more too, such is the opportunity. Of course what we have been saying has
been correct all along. If you had bought a home in Madison Wi over
the last 2 years you could not go wrong. But now the proof is mounting
that this elongated opportunity is closing fast.
that now is the time to buy a home. Now the case can be made, if you own 1, buy
2 more too, such is the opportunity. Of course what we have been saying has
been correct all along. If you had bought a home in Madison Wi over
the last 2 years you could not go wrong. But now the proof is mounting
that this elongated opportunity is closing fast.
Let’s start with home sales:
nationally they are trending up to 5.28 million from a low of 3.84 back just 6
months ago. (annualized figure) So Sales are up.
nationally they are trending up to 5.28 million from a low of 3.84 back just 6
months ago. (annualized figure) So Sales are up.
Let’s look at affordability!
Homes are more affordable that they have ever been, based on price and interest rates against household earnings. Household income to home price fell to 13% in 2010.
Homes are more affordable that they have ever been, based on price and interest rates against household earnings. Household income to home price fell to 13% in 2010.
Let’s look at interest rates:
They have gone up almost 1% from all time lows just 3 months ago. Hovering just below 5% for a 30 year, and predictions they will be at 5.6% later in the year.
Every 1% hike in rates is like adding 10% to the price of a home.
How long before we get to a historical average of 8.9% It is
likely, due to increased activity, prices will go up soon, and higher interest
rates will make buying a home less affordable. I ask you: Can you
hear me now? Start here now. Search all Madison Wi Area homes for sale.
They have gone up almost 1% from all time lows just 3 months ago. Hovering just below 5% for a 30 year, and predictions they will be at 5.6% later in the year.
Every 1% hike in rates is like adding 10% to the price of a home.
How long before we get to a historical average of 8.9% It is
likely, due to increased activity, prices will go up soon, and higher interest
rates will make buying a home less affordable. I ask you: Can you
hear me now? Start here now. Search all Madison Wi Area homes for sale.
To help in the decision process, watch this series of short
Videos: Sell My Home Madison. It will help
you decide if you are really a home seller.
Videos: Sell My Home Madison. It will help
you decide if you are really a home seller.
RealEstateGuy has been a full time, full service
Realtor since 1993. He is dedicated to helping people achieve their Real Estate
Goals and dreams. In order to provide more specialized service, he
created a team of hand picked specialists. Guy believes in constantly learning
more, so regularly attends national seminars and trainings. Guy has been a top
producer, leader in his office, a president of the Wisconsin chapter of CRS,
and has spoken at the Realtor Conventions.
Realtor since 1993. He is dedicated to helping people achieve their Real Estate
Goals and dreams. In order to provide more specialized service, he
created a team of hand picked specialists. Guy believes in constantly learning
more, so regularly attends national seminars and trainings. Guy has been a top
producer, leader in his office, a president of the Wisconsin chapter of CRS,
and has spoken at the Realtor Conventions.
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