As with all other aspects of the economy, the real estate market locally as well as nationally is in a constant state of flux. Here are a couple key considerations to take into account with regard to the local Anacortes real estate market as well as the national real estate market as a whole. Perhaps most notable of all is the fact that today's current mortgage rates are considered some of the lowest that have ever been seen in history. This in itself is a good reason to consider making a home purchase sooner rather than later.
Lower Monthly Mortgage Payments
Prospective homebuyers should always remember that low interest rates translate into much lower monthly mortgage payments. Considering the fact that a mortgage will be paid over a period of many years, lowering the monthly payment can have a substantial impact on overall disposable income. In short, by lenders providing lower interest rates on home mortgages it helps to boost affordability. Those who thought they could not afford a home in a certain price range may find that now those homes are indeed affordable.
Most Dominant Trend
It is also important to note that inventories in the upcoming 2016 fall season are lower than anticipated. This simply means that there are fewer homes on the market for sale as compared to the existing demand for affordable housing. These two factors are perhaps the most dominant trends as the 2016 fall season approaches. Prospective homebuyers may wish to consider working with an experienced, dedicated and knowledgeable Anacortes real estate agent as a way to maximize their opportunities in this current realty market going forward.
Home Of Your Dreams
Because the supply of homes may not catch up with the demand exerted by prospective homebuyers in the fall, buyers may wish to consider expanding their search area. As an added note, new construction starts have recently dropped further limiting overall housing supplies nationwide. Fortunately, the Anacortes real estate inventory is unique, diverse and ever changing. This simply means that those wishing to live in this beautiful part of the country will likely find the home of their dreams by simply working with an Anacortes realtor who is thoroughly familiar with this dynamic residential property market. Contact Nicole Haun with Realestateinanacortes.com today to explore all possible buying options in this delightful part of Washington State.
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