Home Prices Continues to rise
Last week the Fed signaled that they plan to continue to raise the interest rates well into 2015. I could not help but think about early 90’s where the rates continued to rise well past 7%.
So we wanted to explore why it might be good time to buy a home now:
1) Mortgage Rates will rise: Rates will continue to rise since the Fed has unleashed the cat out of the bag and the rates won’t be coming down any time soon specially with the continued recovery of the economy.
2) Prices will continue to rise: The prices of Silicon Valley homes have risen in double digits in the past year. And according to the most economists project home price appreciations for the next 5 years. Their range of projections range from 9.4% to 30.8% for home price appreciations which could is not a good sign for home buyers who want to wait.
3) Tax Deductions: Mortgage interest rates are deductible and offer some of the best available tax shelters available for savvy investors. In fact, Real Estate ownership has produced the largest number of successful millionaires.
4) Good deals don’t wait for no one: Silicon Valley is a neat place where small cities offer unique homes that don’t come to the market that often. So, delaying your search will eliminate the opportunity to own these homes.
So, Contact Us if you want to stop paying someone else’s mortgage and start building your own real estate portfolio.