Yes, it's true that home prices have been rising over the last year or so. Yes, it's true that mortgage rates were going up last year, but you know what isn't true? The myth that first time home buyers can't afford a house right now! As a matter of fact, a recent study by NAR (National Association of Realtors) shows that first time home buyers made up 33% of home buyers this past March. One-third of home buyers are folks who are getting into a house for the first time.
The fact is that yes, home prices have been rising over the past few years - what that really means is that they are getting back to where they should have been after the crash 10 years ago. Also, the fed continues to show signs of not having any interest (pardon the pun) in raising interest rates so this makes for a great time to check into a mortgage with one of our many lender partners.
So, when you boil it all down, what does this really mean? It means that buying a home is just as much a part of the American Dream for younger generations as it was for their parents. Those that are taking the step towards being a homeowner are doing the right things to get ready...making sacrifices to save their down payment, cutting back on social things and getting their credit in order so they can stop dreaming and make buying a home their reality.
So, if you're ready to take that next step of home ownership because you realize that paying rent is like setting money on fire, we can get you in touch with the right people to get you started on your way. And of course, if you own a home and have been thinking of selling, this means there are buyers headed your way. Now may be a good time for us to talk about getting your home on the market.