When interest rates go up………….

Why is it the best time to buy real estate?

  1. Interest rates are around 3.75% for anyone with a 660 or above credit score and qualify
  2. Homes prices are down, so you can get more home for the money you spend
  3. Inventory is up, you can likely find exactly what you are looking for
  4. When you go to sell you will have an interest rate that may be severeal points lower that what can be obtained with a recovering market and makes your property more desirable for assumption

How long will this market last, not sure my crystal ball is broken. I do know this that when the economy recovers, historically we see much higher interest rates and higher housing cost. So if you look at maybe 3-5 years down the road you may pay twice as much for the same house. So if the price of the house goes up, when the interest rates double, will your salary increase that much to cover your housing cost being double, not likely?

Please comment and call if you would like to discuss this with me.real It is the best time to buy and keep  real estate. If you are on the fence get off and take action. If you have credit issue print out your credit report and starting fixing the negative credit that is keeping you from buying a home.

If you are thinking of aquiring rental property it is also a great time, Fayetteville NC is at about a 98% occupancy rate.

 www.fayettevillenc4sale.com for more information

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