« Return to Blogs

To Buy a Home in West Palm Beach or Wait-Signs Help Decide

Buy a Home | Buying Real EstateSpring signals the traditional start of real estate’s busy selling season, and while that’s all well and fine, when it comes to making your own momentous personal real estate decision—whether to buy a home or to sell your own—trying to decide exactly when to make the move is easier said than done.

It is true that this year national observers are unusually unanimous in expecting that last year’s sales upswing will continue. But if you are deciding whether now is the right time to buy a Palm Beach County home (or list yours for sale), the reasons behind the quickening sales activity might be an eye-opener. Here are five of the headline reasons why so many will decide to buy a home in West Palm Beach in 2014:

A Third Cheaper Than Renting

Web giant Trulia’s national averages show that it is still 35% less expensive to own than to rent. In the 100 largest metropolitan areas, even after mortgage rates rose from 3.75 to 4.50%, the home ownership advantage continued.

Protection Against Rising Rents

Renters are finding it more of a hassle even to find an apartment. In the third quarter of 2013, the U.S. apartment vacancy rate fell to its lowest level in over a decade (4.2%) even as the average effective rent in the U.S. rose by 3%, year over year. With supply of rental accommodation tight and unemployment falling, experts expect even higher rents in 2014.

House Prices Are Still Relatively Low

Again according to Trulia, house prices are still below benchmark value levels. In 91% of the largest metropolitan markets, analysts estimate that homes were 7% undervalued in 2013…and headed up.

It’s Becoming Easier to Qualify for a Mortgage

As interest rates rise, mortgage lender refinance business will suffer. Consequently, lenders will need to compete harder for new home buyers. That’s expected to lead to loosening of lending strictures, effectively increasing the number of prospective buyers.

House Prices Are Expected To Rise

House prices increased by 2% in the third quarter of last year, according to Federal Housing Finance Agency (FHFA) figures. If consensus predictions hold true, house prices will continue to rise by 3% in 2014….making sooner rather than later the optimal way to participate in that upward trajectory.

Whether you are hoping to buy a home in West Palm Beach this year or beginning to think it’s time to explore selling, the signs are certainly there. Call me anytime this week—or drop by the office to chat!

 

 

    

 

Questions, Comments or For more information you can email Christian Penner at TheMortgageTeam@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: 561-316-6800

ChristianPenner.com
http://www.christianpenner.com/to-buy-a-home-in-west-palm-beach-or-wait-signs-help-decide/
To Buy a Home in West Palm Beach or Wait—Signs Help Decide


Or You can click "Call Me" below to call Christian Penner directly using Google Voice


blackwhite#Christian Penner, #Mortgage Broker West Palm Beach talks about #Real Estate West Palm Beach. He also serves other Local Areas and provides home #Mortgage Solutions for Palm Beach Gardens, #Jupiter, #Boca Raton, #Wellington and #Tequesta. #Christian Penner Mortgage Broker Jupiter has the #lowest mortgage rates and the best #home mortgage programs like; #Jumbo loans, #FHA Home Loans, #VA Home Loans, #Reverse Mortgage Home Loans, #Freddie Mac Home Loans, #Fannie Mae Home Loans and #HARP Mortgage Loans. #Christian Penner Mortgage Broker Palm Beach Gardens has Served the area for over 15 years with his #Home Loan Lending Needs and Works with #FEMBI Mortgage in Jupiter. You Can Also Find Him On fb mortgageFacebook at: http://Facebook.com/YourMortgageBanker

- - -- - -

View Larger Map

- - -
ChristianPenner.com
http://www.christianpenner.com/to-buy-a-home-in-west-palm-beach-or-wait-signs-help-decide/
To Buy a Home in West Palm Beach or Wait—Signs Help Decide