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4 Reasons to Buy Your Dream Home in the Hudson Valley This Winter

Monday, December 5, 2016   /   by Vanessa Saunders

4 Reasons to Buy Your Dream Home in the Hudson Valley This Winter

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As the temperatures in the Hudson Valley start to cool down, you might think that the housing market will do the same. This couldn’t be further from the truth! Here are 4 reasons GPS believes you should buy your dream home this winter instead of waiting for spring!


1. Prices Will Continue to Rise


CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.3% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.


The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.


2. Mortgage Interest Rates are Projected to Increase


Your monthly housing cost is as much related to the price you pay for your home as it is to the mortgage interest rate you secure.


Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage are currently at 4.08%. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by this time next year.


An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.


3. Either Way You’re Paying a Mortgage


There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either yours or your landlord’s.


As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.


Are you ready to put your housing cost to work for you?


4. It’s Time to Move on with Your Life


The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.


But what if they weren’t? Would you wait?


Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.


GPS Says:


If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258


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The data relating to real estate for sale or lease on this web site comes in part from One Key, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the One Key, Inc logo or an abbreviated logo and detailed information about them includes the name of the listing broker.

The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2020 One Key, Inc. All rights reserved.

The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.
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