4 Reasons to Buy That Crow Wing County Home Before Winter
Seasons are quickly changing here in northern Minnesota. Those changes will bring the holiday season upon us before we know it. If you are on the fence about if now is the perfect time to buy your dream home in Crow Wing County here are a few reasons why you should buy before winter.
1. Project Mortgage Rates Increase
Recent reports from Freddie Mac showed that interest rates for a 30-year fixed-rate mortgage have lessened recently. However, many experts are predicting that they will start increase in the months ahead. All major housing authorities are predicting rates to be up nearly a full percentage point by the end of 2015.
2. Rising Prices
A recent poll of over 100 well known economists, housing market analysts, and investment strategists released shows that they predict home prices will increase. They are predicting that over the next five years home values on the pessimistic side will increase by 11.2% and on the optimistic side they will increase by 27.8%.
3.Paying Your Mortgage
“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” As stated in a recent report by the Joint Center for Housing Studies at Harvard University.
4. Time For A Change
The cost of a home is determined for most buyers based on the price of the home and the mortgage interest rate. All indications point to the fact that both home prices and mortgage rates are on the rise. Now is the time to buy before these two factors go any higher.
If you are looking to buy or sell a home in Crow Wing County this autumn, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.
Bill Grunewald/ Edina Realty.
Licensed in Minnesota/ Lic # 20204156