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Why Should You Buy a West Coast Home Before the End of Q1?
Manage episode 156873333 series 1203908
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If you are on the fence about buying, or if you've even considered it, you need to purchase a home and close by the end of the first quarter. That may sound a bit hasty, but these three compelling reasons might convince you to act soon.
1. Higher interest rates. The Fed is raising interest rates a quarter of a point every quarter of 2016. To minimize the amount of interest you will have to pay on a 30-year mortgage, you want to close on that mortgage by the close of the first quarter of 2016.
2. More competition. The longer you wait to make your move, the more buyers you'll have to compete with. More buyers come out in the summertime in Oregon, Washington, and California, which increases the competition for you and makes it more difficult to get your offer accepted.
3. Home values are still going up. If you want to get the most home for your money, the sooner you identify a property, the better. Close by the end of the first quarter in 2016 if you want to get the best deal possible, as prices will continue to rise through the summer.
If you have any questions about making your move soon, or if you need real estate assistance of any kind, please don't hesitate to reach out to us. We would love to hear from you!
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