Have you been considering purchasing a new home and wondering if you should buy now or wait? The answer is a resounding “BUY NOW! …and hurry”! The real estate market has seemed like a roller coaster ride for some in the recent past, and we have all heard some of the horror stories about people who bought at the top of the market and now are “upside down” in their mortgage.
What a lot of people forget, is the horror story that goes like this….”I waited too long, now prices and interest rates are so high, I can’t afford to buy a home”…ever heard that one? This was a very common story back in 2003-2005, when prices were going up so fast you could easily see an increase of $5000 or more in one month!
Well, those times may be on the horizon again. Interest rates, while still at all time lows, are on the rise. The 30-year Weekly Primary Mortgage Market Survey® (PMMS®) rate has gone from 3.34% in January of 2013 to 4.31% as of July 25. This represents an increase of 97 basis points (almost a full percent), what this means to a home buyer is an monthly payment increase of almost $100 per month on the average mortgage payment. Some have even seen rates pushing 5% or more!
In addition to interest rates, home prices are also on the rise. According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in April 2013 was $193,300, up 11 percent from the previous year. Most builders have reported raising prices several times this year already, as costs to build and the price of land is rising fast.
If the rising prices and interest rates are not enough to get your attention, consider this, buying a new home, especially a quality built Maronda Home, will save you money on energy bills. New homes are required by code to be more energy efficient than homes built just last year. The Florida energy code requires increases in energy efficiency every three years and it has just gone into effect for this cycle. Maronda Homes has launched its new BEE SMART energy program that not only meets these requirements, but actually exceeds the standards set forth by the ENERGY STAR program. ENERGY STAR is a U.S. Environmental Protection Agency that sets the bar for energy efficiency.
If saving money is not your main focus, consider the excitement of a new home just for the lifestyle. Maronda Homes has redesigned its entire home plan inventory. These exciting new homes deliver up-to-date designs, with many upgrades, and layout options. They have plans to meet every family situation from the first time homebuyer to the empty nester.
Stop by one of Maronda’s great model home centers today and see why Maronda homes has offered its homeowner’s “an easily observable better value” since 1972. To get started visit Maronda online at www.marondahomes.com