Welcome to the AllIdahoFallsRealEstate.com Blog

2018-12-10 12:36:53
What If I Wait A Year to Buy a Home?
What If I Wait A Year to Buy a Home? | MyKCM

National home prices have increased by 5.4% since this time last year. Over that same time period, interest rates have remained near historic lows which has allowed many buyers to enter the market and lock in low rates.

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 Insights Reporthome prices will appreciate by 4.8% over the next 12 months.

What Does This Mean as a Buyer?

If home prices appreciate by 4.8% 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:

What If I Wait Until 2019 To Buy A Home? | MyKCM

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.

 
Blog Archive
2019-01-16 15:21:10
Is the Recent Dip in Interest Rates Here to Stay?

2019-01-15 15:04:55
Tax Time is Upon Us

2019-01-14 22:31:46
Buying a House This Year? This Should Be Your 1st Step!

2019-01-11 12:36:18
Homeownership Remains a Huge Part of the American Dream

2019-01-10 13:30:35
The Best Time to List Your House? TODAY!

2019-01-09 12:40:46
Important Message From: IDAHO DEPARTMENT OF HEALTH & WELFARE

2019-01-08 10:48:44
Excited About Buying A Home This Year? Here’s What to Watch

2019-01-07 17:57:29
Want to Get the Most Money from The Sale of Your Home? Use These 2 Tips!

2019-01-04 20:38:47
Top Renovations to Complete Before You Sell Your House

2019-01-03 10:02:57
Belief in Homeownership as an Investment is Far from Dead

2019-01-02 15:36:27
Here’s to a Wonderful 2019!

2018-12-28 14:10:39
24 Hours that Suddenly Improved the Market

2018-12-27 18:16:03
The Cindy Bates Group Is Here For You This Winter

2018-12-26 16:10:38
Buyers Are Looking for Your Home, Now

2018-12-20 14:27:23
Buying vs. Renting from Shalan

2018-12-18 08:41:19
5 Reasons to Sell This Winter!

2018-12-14 09:17:21
4 Reasons to Sell Your House This Winter

2018-12-13 09:20:23
No Bubble Here! How New Mortgage Standards Are Helping

2018-12-12 12:45:11
Don’t Get Caught in the Rental Trap in 2019

2018-12-11 11:01:29
How to Simply Increase Your Family Wealth by Paying for Housing

2018-12-10 12:36:53
What If I Wait A Year to Buy a Home?

2018-12-07 15:09:36
The Tale of Two Markets

2018-12-06 14:15:21
Try Just One More Time

2018-12-05 18:11:20
Where Are Interest Rates Headed in 2019?

2018-12-04 11:39:33
Homeowners Aged 65+ Have 48x More Net Worth Than Renters

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.