CHICAGO – June 4, 2015 – Potential homebuyers who don't take advantage of current interest rates and property prices risk losing out on thousands of dollars, according to realtor.com. Its Opportunity Cost Report notes that residential price appreciation is dropping, rents are climbing and higher mortgage rates are looming.
Realtor.com analyzed the 382 largest markets in the nation, estimating that the wealth an average buyer would accumulate over a 30-year period based on today's dollars is $217,726. In 88 percent of metropolitan statistical areas, buying a home produces a financial benefit of at least $100,000 over 30 years.
However, low inventory is keeping many would-be buyers on the sidelines, says realtor.com chief economist Jonathan Smoke.
"Current market conditions give buyers the opportunity to build substantial wealth in the long term, compared with renters and later buyers, in advance of the projected increase in mortgage rates and continuing price appreciation," he adds.
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I have to say that Michaela is the most efficient, enjoyable and effective real estate agent we've ever used and we bought and sold many houses. Since we bought our house sight unseen, Michaela went above and beyond the call of duty to keep us informed, FaceTime and text photos, checked the houses thoroughly and everyone she recommended along the way were also excellent.
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Michaela Sanchez is above and beyond any agent we have ever worked with, and we bought and sold many houses. She took care of every detail along the long and drawn out process of finding, inspecting and financing our home flawlessly and timely. Since we bought our home from California, Michaela earned our trust and our hearts staying ahead of the process as well as keeping us in the loop by taking many photos and videos and texting them to us; it was such a help for us to stay involved in the buying, inspection, financing and closing process. We highly recommend Michaela, you will be amazed at her efficiency and kindness.
Not yet, but will recommend if any is buying in the Sarasota area for sure.
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