Why You Should Consider Buying Now Instead of Waiting

Is waiting to buy a home costing you money? I’m afraid so, and there are two big reasons why.

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (616) 447-7025 for a FREE home buying or selling consultation

Is waiting to buy a home costing you money? The answer is yes, and there are two main reasons why. 

The first is price appreciation over time. Property values are rising every day now, and supply and demand is pushing prices upward. The longer you wait, the more you’ll be missing out on a better home price.  

The second reason is interest rates are also rising. A 1% increase in interest rates decreases the average homebuyer's affordability by about 10%. That means if you want your mortgage payment to stay the same, you will have to buy a less expensive home. In other words, your buying power drops 10%. The Fed announced that they would be aggressive with interest rates this year, and they have more planned increases in the future. 

For a more detailed look at how interest rates are expected to impact the market in the coming months, you can click here. For a look at home price expectations for 2017, click here.

Don’t get caught on the sidelines in our market.

With both prices and interest rates moving up, every day you wait is costing you more money. Don’t get caught on the sidelines. 

If you have any questions or are interested in purchasing a property, give us a call or shoot us an email. We’d love to help you out.

Is Grand Rapids Approaching Another Housing Bubble?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (616) 447-7025 for a FREE home buying or selling consultation

Today, I just wanted to let you know that according to the National Association of Realtors, there is no housing bubble in sight.

It may seem like prices are inflated, but according to Realtor magazine, home prices and home sales are not nearly what they were ten years ago. Mortgage amounts are going down as well, so borrowers are much more conservative.

Additionally, mortgage lending is very tight compared to what it was ten years ago when everyone could get a mortgage, so the financial market is in a much different place than it was during the previous housing crisis.

To read the full article, check out this link: http://realtormag.realtor.org/news-and-commentary/economy/article/2015/07/no-housing-bubble-in-sight.

If you have any questions, give me a call or send me an email. I'd be happy to help you!

Who Should You Trust When Seeking a Loan in Grand Rapids?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (616) 447-7025 for a FREE home buying or selling consultation

There are many myths surrounding the lending industry, so today we thought we would do something to combat a prevalent one: the myth that all lenders are the same! 

There is a huge difference between working with a large national bank and a local bank. Typically, when working with a local or regional bank, you will have more direct contact with the underwriters, who are more familiar with the local paperwork: purchase agreements, addendums, contracts, etc. They simply know the process a little bit better!

All banks do not have the same rates and fees. I've seen banks vary by as much as half a percent in interest rates on the same day! We suggest shopping around and contacting a few local banks. The process will generally go a lot smoother once you've explored all your options and found someone you're comfortable with!

If you have any questions about the benefits of working with a local lender, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to help you make the most of your real estate venture!