Judith Sutton ABR CRS IDS PMN ASP IAHSP SRES GREEN
Judy@JudithSutton.com 908 803-0472
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HOME BUYING GUIDE
REASONS To Buy a Home This Summer
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Are you thinking of buying a home this summer? If so, you have a great opportunity in front of you. Here are just a few reasons why this season may be the right time to make your purchase.
Homeownership Has Many Advantages
Homeownership is the American dream – not just because it has tangible financial benefits, but because it also has the power to change lives. Whether your needs have changed, you’re looking for more stability, or you’re ready to enter a new chapter in your life, turn to homeownership. It not only provides a safe space to call your own, but it also helps you build your net worth through home price appreciation and home equity. Not to mention, it gives you a sense of pride and accomplishment that carries you through your day-to-day life.
More Homes Are Expected to Enter the Market
This Summer While the number of homes for sale is still lower than pre-pandemic norms, there is good news for your home search. Data from realtor.com shows the number of homes being listed for sale, known in the industry as new listings, has increased since the start of the year. In addition, 64% of sellers are planning to list their homes by the end of this summer. That should give you more options. If you begin your search now and work with a trusted real estate advisor, you’ll be in a great spot to benefit from those additional choices when your dream home hits the market.
Home Prices Are Climbing
So far this year, home prices have increased. While competitive buyers are expected to keep home prices climbing, industry leaders say the pace of the increases should moderate moving forward. As Len Kiefer, Deputy Chief Economist at Freddie Mac, says: “If you’re thinking about waiting until next year and that maybe rates are higher, but you’ll get a deal on prices – well that’s risky. . . It may be more advantageous to purchase this year relative to waiting until 2023." While everyone moves through the home buying process at a different pace, it’s more important than ever to put your plans in place and begin working with a real estate trusted advisor. That’s because it’ll cost you more to buy a home if you wait and if prices continue to rise. As your trusted advisor, call me for the latest updates.
Rents Are Rising Too
Census data shows the median monthly rent is also going up. To escape rising rents, consider purchasing a home so you can lock in your monthly mortgage payment. Even though the number of homes available for sale is low, homeownership is a much more stable long-term investment. . . home prices aren’t going to drop any time soon. So, if you’re on the fence about whether to buy now or wait for a better deal, buying sooner rather than later might be wise!
Best advice: Remember, you need to put things into perspective. Make a list of your needs, and where you want to go- and with a realistic perspective your TRUSTED REAL ESTATE ADVISOR can put you on the right road to success. It is truly impossible to predict what is going to happen in the future- about anything. Enjoying the here and now and listening to the facts is the only thing we really know- and waiting would be making any impossible guess. I can help guide you with solid facts about how best to make your next move a success. Let me be your trusted advisor!
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