How to Show Your Clients the Cost of Waiting
With prices on the rise in most areas of the country, many first-time buyers might think that they should wait to buy. But unfortunately with interest rates also on the move, the Cost of Waiting a year to buy is climbing even faster.
CoreLogic predicts a 5.3% appreciation in home prices in the next 12 months. Freddie Mac predicts an increase of a full percentage point in interest rates.
We wanted to be able to give you 10 prices ranges to help your clients see the Cost of Waiting in a range that makes sense for your area. We have given the slides a home on the Infographics page, you can click on the icon at the top of the page to find ten price ranges showing exactly what will happen to a mortgage payment if the experts are right.
If you would like to customize the slides for an exact interest rate, or price range we have included the Power Point versions that can be customized with the use of a mortgage calculator!
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This is great!!!! Thank you
Most sellers think I am going to wait to sell my home and make more money. Yes you will sell your home for more money. By the same token the home you want to buy will also go up. The interest rate are also on the upward trend . In the end by waiting your buying power becomes much lower due to rising home prices and rising interest rates.
So the time to sell is now. Keep in mind the home you buy will increase in price over the next four years , there by giving you more equity and more personal wealth.
Fantastic…
Great info!