November 9, 2017
With interest rates on the rise after the Federal Reserve boosted rates in December and more increases likely on the horizon, there is no better chance for you to get into the housing market than now. Analysts expect rates to rise at least 3 times this year. Across the country, the median home sale price rose 5.5% last year and Redfin predicts a 5.3% increase in home prices this year. Locally, trends are much higher. Last year alone, median year-over-year home prices rose 8.2% in Clay County, 9% in Saint Johns and 9% in Duval! With the combined rate and home price increases, there is no better time than now for you to get the most home for your hard earned dollar.
October 18, 2017
Buying a home is an emotional decision as well as a financial one. In recent studies, published by the real estate website Trulia.com, if one can manage the payment, it pays for most households to take the plunge. The authors estimated the monthly cost of ownership. For the average home owner, it is less costly to own than rent. According to the ATTOM Data Solutions 2017 Rental Affordability Report, which analyzed data from 540 counties nationwide, buying a home is the more affordable housing option in 66% of the markets, up fro 58% last year. Barriers such as potential interest rates rising this year and median home price increases could possibly keep potential homeowners renting long term.