For months now people have been trying to work from home with minimal effort in organizing an office or business from home; the reality is this may be the new way of doing business. Many people
Even with economic uncertainty it’s still a good time to buy or sell
Dated: October 5 2020
Amidst the confusion in our political climate; we also are dealing with an economic rollercoaster. Buyers, and sellers are frequently at a standstill not knowing if the time is right to make their next move. To get more insight on this topic Real Estate reporter Clare Trapasso spoke to a few experts.
According to Danielle Hale indicated Cash-strapped home buyers received a bit of relief this week; mortgage rates tumbled to a new all-time low—making those monthly mortgage payments just a bit cheaper.
This is good news for buyers who are in the market now, says realtor.com®'s chief economist, Danielle Hale. "It’s going to make monthly payments lower than they otherwise would be. Buyers need that right now, because prices are rising.”
Even in our current situation, pandemic with economic uncertainty the median home list prices rose 10.8% compared with last year in the week ending Sept. 5, according to realtor.com data. Nationally, the median home price was $350,000 in August—a record high.
A percentage point here or there may not sound like much, however, it can determine whether aspiring buyers can afford homeownership. It can also add up to some very big savings. Even a single percentage point difference has the potential to shave more than $100 off a monthly mortgage payment and can even result in tens of thousands of dollars of savings over the life of a 30-year loan in some cases. (The exact amount will vary based on the rate and size of the loan.)
"The low rates are helping, maybe they can afford a little bit more," he says.
Rick & Angie Decker are realtors with Local Homes and Land Real Estate. When life pushes you into a new chapter we're here to help you enter that chapter. We have years of experience helping others meet their goals and finding their forever home. Give us a call today at 843-499-6872 or email us at firstname.lastname@example.org
Trapasso, C. (2020). Mortgage rates tumble to yet another all-time low. Retrieved October 5, 2020 from https://www.realtor.com/news/real-estate-news/mortgage-rates-keep-falling-new-lows/
Rick & Angie Decker, Realtors
Rick and Angie Decker work together as The Decker Team and they specialize in both Commercial and Residential real estate.. Angie entered real estate part time in 2016 while also working as an Operati....
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