Encouraging Home Sales
According to The National Association of REALTORS® yesterday, the nation’s pending home sales were up 0.9% for the month of June. And as this article by Market Watch reports, here in the South pending home sales rose by 1.1%, and overall median existing home prices are forecast to increase by 5%.
What does this mean? NOW IS THE TIME TO BUY YOUR HOUSE! With interest rates being predicted to rise continually, delaying the purchase of a home could cost you in the long run. If residential property values continue to rise, coupled with increasing interest rates, then investing becomes much more costlier, (reducing margins) (reducing returns). Speak to your loan officer today about pouncing on the opportunity to own that home you’ve been eyeing… right now.
Personally, I recommend Travis Deck with Summit Funding here in Middle Tennessee. I’ve always been able to rely on his expertise and personal touch with home buyers. Even if you are simply interested in using some of the rising equity in your home, Travis can walk you through the process.
Home buying can definitely be a tricky process; especially in a hot real estate market like Middle Tennessee. Around our office in Mount Juliet, we are seeing incredible growth! Make sure you are dealing with a knowledgeable real estate agent. Contact us today to learn more!