The recent normalization of the real estate market has created a strong buyer's market, particularly for first-time buyers and real estate investors who don't have to wait for their home to sell before taking advantage of lower prices and increased choices.
4 Ways Homebuyers Benefit
1. Affordabiity is high. The housing affordability index, whic measures the ability of an average household to afford a home, has registered favorable numbers for the past several months. This is especially encouraging for first-time homebuyers.
2. Interest rates are low. Thirty-year fixed rate mortgages have been hovering around 6% for the past several years, representing the most stable period for interest rates in the past 40 years. Rates are expected to stay low for the near future.
3. It's a great time to move up or invest. Affordable home prices and a good selection mean good news for people looking to move up or find bargains. for homeowners looking to move up to a larger home, selling your home now may result in a slightly lower sale price, but the difference will be reclaimed with your next purchase. Real estate investors can use this time to find great real estate opportunities on homes around the country that can be turned into vacation rentals, family retreats and second homes.
4. A home is still the best long-term investment. A recent study released by the Federal Housing Finance Agency has confirmed that housing values have climbed significantly throughout thenation during the past 5 years. Of the 292 metropolitan markets surveyed, 273 showed positive net home value to the tune of 29%.
For an update on the most current Case-Shiller Report : http://atlrealestatescoop.com/
Please do not hesitate to contact me if you have any questions or just would like more information. I am here to help. I hope to be your real estate consultant for life.~ Dawn