Make An Investment
If you have been on the fence about buying a home, 2017 may be the ideal time to consider making a purchase. Many experts in the industry are saying that now is a better time than ever before to jump in and make an investment or to simply get out of the rent paying routine. This is especially true considering that rental rates have steadily increased across Washington State in recent months. The prediction is that rental rates will only continue to increase.
While it is true that inventories of homes have tightened, there is a growing number of homes being added to the mix as more and more homeowners look to capitalize on increased property values in 2017 by selling. This equates to a greater selection for potential home buyers. Price appreciation, while a two edged sword can indeed be a major driving force in the real estate industry ultimately spawning greatly increased activity in the market. This added to the fact that in 2017 there is expected to be ongoing growth in those who will hire contractors to build a home on a recently purchased lot.
Builders Are Also Speculating
With tight inventories 2017 continues to see more creative approaches to home ownership. If you can’t find the home of your dreams, simply find the perfect lot and then build a home to your exact specifications. Not a bad idea, especially in light of the fact that home choices have been somewhat limited in recent days. Builders are also speculating and building starter and middle-range homes for the same reason. This type activity serves to bolster inventory levels to some degree. Interest rates are another key metric in today’s unique real estate market.
Trending Toward A Steady Rise
Even though the Fed just raised benchmark rates again a few days ago, the overall interest rate that drives Anacortes mortgage rates is still considered invitingly low by historical standards. In short, consumers are still enjoying what are some of the lowest interest rates seen in a generation. While rates are trending toward steady rise, it is a slow process and as such potential homebuyers can expect good deals in this regard through the remainder of 2017 and into 2018. At the end of the day 2017 is truly a great time to buy a home in Anacortes or anywhere in Washington State.
Contact Nicole Haun today by visiting Realestateinanacortes.com and filling out our simple online contact form. We offer access to a wide range of Bow WA multiple listings as well as homes for sale in Mount Vernon Washington and many other surrounding communities.
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