written by Leigh-Anne Osten, Mortgage Loan Officer with Bank of Albuquerque.
Spring is in the air! If the thought has recently crossed your mind about buying a new home in the Albuquerque Real Estate Market, here are some good reasons you should think about making the move:
- Home prices are on the incline – According to Zillow, Home values increased nationwide 6.8% in 2016. It is projected that they may increase another 3.5% coming in 2017. It is not predictable to know when home values could fall again, but it is best to make that purchase now before the prices continue to climb.
- Rates are still low…for now – As is the same with estimating on what property values will and won’t do in the future. Experts predict that mortgage rates will likely increase in 2017 but they are still low for now. It’s a good time to lock in a low rate to help you save big over the time span of your mortgage.
- Inventory is low – Competition is rising due to the lower inventory of homes on the current market. As with the principle of supply and demand, the lower the supply…the more the demand. Competition for buyers will start to increase with less options out there.
Still have questions about financing options?? Please contact me today! There are numerous programs that are helping people get into homes. Let’s discuss and see what would be right for you. Now is the perfect time to move forward and explore your options!