Our housing market is highly competitive and has been for quite some time. There are more folks looking to buy a home than folks looking to sell. Housing prices, like all commodities, are based on Supply and Demand. Many of our buyers have found themselves in situations with multiple offers, quick closing dates, and homes selling at unbelievable prices, making home buyers wonder if this is the right time to jump into the market. If you purchase a home you love and plan to stay in the home for at least five years, you cannot go wrong. Although interest rates are climbing, in five years interest rates are predicted to be even higher, therefore a home purchased now may be a bit overpriced, but your mortgage interest is still quite low, putting two x’s in the win column. One X for the home you love, and one for the still favorable mortgage interest. Historically home values rise, in this market it is possible for a year or two you may be underwater, but if you stay for a few years and enjoy your home you cannot lose. Remember, in Real Estate the Mantra is Location, Location, Location and Solivita is an Award Winning Community in Central Florida, the perfect location and the Perfect Community. You can always redo your kitchen, or change the paint color, but you cannot change your location and if you buy in Solivita your location is as good as “money in the bank”.
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