10/19/2022 0 Comments
Rates and Buying Now
In our current market, interest rates have risen, and may still rise. This turns into a potentially tough time for consumers/buyers. But here are some notes for those who need to buy or are considering buying:
— As mortgage prices are up and rates up, so is the price of rent. These numbers inflate with the rest of the numbers. Meaning: a home investment—which is a view of the longterm — this kind of investment can still be worthwhile now. It’s all about where our monthly payments end up and if you can continue to build equity through a tough economic season. Buying over renting *still accomplishes ownership and equity in ways a monthly rent payment just releases earnings without capitalizing.
So, if you’re a renter —> Let’s talk. It is still worth the conversation.
— And what about rates? After the years we’ve had since the pandemic, it is a unique time. We don’t know when the economy will bounce back, but the factors remain for strength and a rise again after this downturn. So, building equity now and refinancing with lower rates is a good possibility. You are not locked into the rate you take on now forever. Times, and the season of money, will change. Always does. In fact, though these rates seem high compared to recent years, they are baseline rates compared to the 2000s and they are low compared to decades before that!
— Putting money in real estate right now is still one of the strongest investments. Bonds down, market down, retirement accounts down … property will still be here when the money flows back the other way. So, investing in real estate is that benefitting longview. We’ll help you think through it!
We know this market changed quickly this summer, but people are still looking to make moves. Some absolutely need to move/buy/sell due to job changes or life circumstances. We’ll help you look at the options, or we’ll help your friends and family. The OHT is here for you! Reach out anytime.
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