Contact

10244 River Road, Potomac, MD 20854
301-349-7800 [email protected]
Do you want content like this delivered to your inbox?
Share
Share

What If I Wait Until Next Year to Buy a Home?

Ross Wilhelm

Ross is the Lead Buyer's Agent for the Crawford & Lee Team and has more than 23 years of experience in New Home Sales and a vast knowledge of con...

Ross is the Lead Buyer's Agent for the Crawford & Lee Team and has more than 23 years of experience in New Home Sales and a vast knowledge of con...

Sep 30 2 minutes read

As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.

The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Reporthome prices will appreciate by 5.2% over the next 12 months.

What Does This Mean as a Buyer?

If home prices appreciate by 5.2% over the next twelve months as predicted by CoreLogic,here is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately $250,000 today:

Bottom Line

If buying a home is in your plan for this year, doing it sooner rather than later could save you thousands of dollars over the terms of your loan.


How Much Has Your Home Increased in Value Over the Last Year?

If you are planning to list your home for sale in today’s market, let’s get together t...

Read More

CoreLogic Home Price Insights

Home Price Index (HPI) by CoreLogic, the most timely and comprehensive source of home pric...

Read More

I Am Ready to Buy a House... Now What?

I love working with first time buyers. Their enthusiasm for this new journey they are abou...

Read More

Ready to buy? Not sure?

We have the experience to help you with this decision.

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info