| Today's interest rates of 3.8% are a good 1% lower than this time last year. That gives a buyer on a $300,000 mortgage nearly $35,000 more in buying power! What will interest rates be a year from now...don't know. How about housing costs? Don't know that either. However, I would say that today's interest rates combined with the existing housing costs which will predictably continue climbing, make this a good market. The market is becoming more and more challenging for first time homebuyers and buyer's wanting to downsize. More and more first time buyers are considering condos and townhouses (higher density housing) due to cost and availability. As for people downsizing, I hear this nearly every sale: I wish I would have downsized two years ago when costs were less and when it was not so physically challenging. If you are needing selling, buying advice...please keep me in mind. 36 years of real estate experience, excellence, and integrity!! |