Are you one of the many buyers thinking you should hold off until the market hits rock bottom?
Not only are you running the risk of interest rates rising, you will never be able to time market bottom because you'll only know the market hit rock bottom when you see it in the rearview mirror and by then its too late to turn your car around. All the should've(s), would've(s), could've(s) won't change the fact that you missed out on the best time to buy a home.
Affordable housing together with mortgage rates being lower now than they have been in more than 40 years offers buyers the opportunity to secure low payments not just for today but for years to come.
Below is a chart that lists:
- a sampling of recent fixed mortgage rates (Feb 2009, May 2004, Dec 1999 and Jan 1995)
- how the rates would affect the monthly payments on a $350,000 home
- how much more you'd pay monthly if you were to buy at higher mortgage rates, compared to the Feb 2009 rate
- how much more you'd pay after 30 years if you were to buy at a higher interest rate
Source: bankrate.com and Source: realstorynj.com
*These payments do not include taxes or insurance.
Buyers that are looking to take advantage of long-term savings realize that NOW is the PERFECT time.
The chart above confirms that waiting any longer can really cost you...
Do you really want to pay more than you should?
I didn't think so.
Whether you are buying your first home, downsizing or moving up, let me open the door to your next home.
-Gina
****With deep roots in the Essex County, I service buyers and sellers throughout many Essex County communities and neighboring Morris and Passaic Counties, specializing in the entire West Essex Area (including Fairfield, Caldwell, West Caldwell, North Caldwell, Roseland, Essex Fells, Verona and Cedar Grove) and my hometown areas of Belleville, Bloomfield, Nutley and Little Falls.****
Gina Chirico, Sales Associate
973-715-1158 cell
973-992-6363 ext 116
Gina.Chirico@PrudentialNewJersey.com
When opportunity knocks..make sure Gina Chirico is there to answer your door!
