Labor Day weekend has come and gone, fall harvest is underway at local Central California vineyards, and apples are in season. Autumn is upon us! As your Central California real estate agent, I want to inform you that before winter hits, now is the time to buy a Central California home!
If you’re feeling unsure, here are some reasons to buy now rather than put it off for another year:
- Home price increases have slowed down but will continue to rise. Now that home price increases have slowed down, it’s a great time to buy at an affordable price. However, if you wait, prices will continue to increase, and you’ll be paying more for the same homes next year. According to projections from the National Association for Realtors, California homes will increase in price between 3 and 5 percent in the next year.
- Mortgage rates will increase. Summer homebuyers have been really fortunate, because mortgage rates remained at near-historic lows all season! However, rates are predicted to start increasing soon, and Freddie Mac projects that rates will be up almost a full percentage point by this time next year. A higher mortgage rate means you’ll have a higher mortgage payment every month!
- You’re paying a mortgage either way. Whether you rent or own, you’re paying a mortgage. So whose mortgage would you rather pay for, yours or your landlords? When it is your mortgage, you are investing in your future. You will see that money again when you turn around and sell the home down the road. When you rent, you never see that money again.
- It’s time to move on. You can always find a reason to hold off on buying a Central California home, but think about the reason you want to move or buy in the first place. Are you ready to invest in your future? Do you want to live on the beautiful Lake Nacimiento? Is your family growing? Is your family shrinking and you’re ready to downsize? Are you retiring? Find the home that is right for where you are in your life right now!
As you can see, there are plenty of reasons to buy a Central California home right now. Plus, do you really want to be searching for a home in the middle of winter or during the chaos of holidays? Now is the perfect time!
When you are ready to start searching the Central California real estate market for your perfect new home, contact me, your Lake Nacimiento real estate agent! I’d love to offer you my professional, personalized assistance.
From Grace Borzini
grace@oakshoresrealty.com