Keith Wenger: Imperial Mortgage & Real Estate

Real Estate Blog

March 2019

Waiting for the Market?

real estate market

CONFUSED?

Are you hesitant about buying a home in this market? We have all heard the rumors that the market cannot continue to rise at this pace and maybe it’s better to wait until the values go back down like in 2008-09!
 
Don’t be so sure my friends. My 30 years’ experience of watching and working in this market tell me a different story! The most recent data suggests that property values are not going down anytime soon, but we will see a slower pace of growth than we have in the last few years. More like 3-5% instead of 5-8%. Believe it or not, the weather has been a huge deterrent for our local market as people don’t like to buy or sell in rainy weather, but that is going to change with spring just around the corner! Spring always brings out the buyers and sellers. Also, do you know anyone who has been trying to rent a home? Good luck! Not much available and the rents are rising at a staggering rate. You can’t find a 3 bedroom home under $1600-1700/mo. Only way you can stop the rent increases is by buying a home with a fixed rate mortgage. Also, as stated in my last article, the feds raised the rate 4 times last year but have changed their bias to NOT raising them in 2019 except to hedge inflation which is low in this great economy we are currently in. This change in bias has lowered the rates to the lowest since early 2017 to the low to mid 4% range.

WHY NOW?

If you sit back and listen to the rumors, you may just find yourself priced out of the market and renting forever! Perhaps you should reconsider listening to rumors and let me help you find your dream home and be a homeowner! If you have kids old enough to buy, have them call me to get pre-qualified and on the right track of home ownership.

 

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