Homes are Selling in Hampton Roads. Inventory of homes for sale is low from the Virginia Beach Oceanfront to the Suffolk Nansemond River.
The rates have been so low that a 3 Bedroom 2 Bath Home has been cheaper per month to own then to rent. Many people have been watching the news thinking they would never qualify to buy a home. when in fact because the rates have been so low they actually would qualify. It is a great time for First Time Buyers to become homeowners.
Sellers have also been sitting back watching the market thinking why should they sell now when their home was worth more 4 years ago.
Well Here is why, If they sell the home now the odds are they can re-buy a better home a at a lower cost.
Not a lower price but a lower cost, If the new home was 25% more expensive and the interest rate was 3% lower. That would equate to a lower payment on a more expensive home. ( More House for your Money )
This is a time that will be talked about for years to come! Some will be excited that they jumped in the market and others will be grumbling that they should have purchased a home when they had the chance.
Everyone makes their own choices in life and one we all have to make is do I buy or do I rent. My take on that is at least talk to a Local Lender, See if you qualify and what the cost would be. Now you can make an educated decision. Home Ownership or Renter
Remember where you are, If your reading this you were already thinking about a home……… www.ChooseaHomeNow.com
By Don Maclary
I have worked with Don for a couple years and he is a true real estate professional. He is always able to find what my clients want for their family, and does it quickly.
~ Nick, Local Mortgage Agent