30 Things That Effect Rate

Why NOW is Always The Best Time to Buy.

Knowing the differences between a buyer’s and seller’s market can help you feel more confident in the timing of your next home purchase.

Buyer’s Market – Supply exceeds demand

• More properties to choose from • Homes may be on the market longer • Buyers have the advantage when negotiating • Burden is on the seller to price competitively • May indicate a slowing or stagnant economy • Equity growth may take longer

Seller’s Market – Demand exceeds supply

• Fewer options to choose from • It may take longer to find the right home • Homes sell quickly, buyers need to act fast • Less opportunity for negotiation • Buyers must make competitive offers • More common in times of economic growth • Home values rise quickly

The benefits of a buyer’s market are clear. More inventory means more choices, lower prices and a stronger negotiating position. It’s a great time to buy, especially for first time home buyers who don’t have to worry about selling their current home. In a seller’s market, the benefits to home buyers may not be not as obvious but they are significant.

A seller’s market means a growing local economy. Not only will the newly purchased home increase in value more quickly, but local tax revenues will increase as property values increase. This means your new community can invest in better roads, schools and infrastructure. The local job market is likely to be more stable in a growing economy and increased consumer spending will attract new business and entertainment venues to the area.

Long-term, the benefits of living in a strong local economy will outweigh the potential costs of buying in a seller’s market.

In any market, it’s important to start with a reliable pre-qualification from a well-known and experienced lending team like the Boles Group at Bay Equity Home Loans Gilbert and work with a quality Realtor like your Selling Made Simple agent who will find the perfect home and negotiate the best possible price regardless of market conditions.

Hidden Benefits of Home Ownership

If you are considering a home purchase, you are probably looking forward to eliminating rent increases, pet restrictions and some of the other irritations of answering to a landlord. You may also know that buying your own home is a reliable strategy for gaining long-term wealth with minimal risk to your initial investment.

It doesn’t stop there. Buying a home is so much more than putting a roof over your head and building equity.

Home ownership is the heart of a great community.

As homeowners make family and neighborhood ties, they contribute to the health and stability of their local community.

Homeowners are more likely to:

• Support local businesses • Get involved in local events • Volunteer or donate to local causes • Vote in local elections

Housing Drives Local and National Economic Growth

Housing is a vital sector of the U.S. economy that influences new job creation and employment stability. • Building a community of 1000 homes creates more than 2000 full time jobs. • Home construction and related industries employ around 6 million Americans. • Residential real estate investments account for more than 4% of the nation’s GDP.

“Pride of Ownership” creates a sense of wellbeing.

In American culture, owning a home is an important symbol of independence and stability that contributes to improved self-esteem, an increased sense of satisfaction and greater sense of being in control.

While getting a dog, painting your bedroom and planting a garden are all fun ways to enjoy the freedom of home ownership, the benefits to you and your community go much deeper than a coat of paint.