I’m Scott Chappell and everybody knows that this is the slow time of the year to buy or sell real estate. Residential home values have gone up an average of 6% locally this year. The smart guys that do the forecasting agree that 2019 will be another good real estate year for buyers and sellers alike with a projected 5.62% average increase in values locally.
Smart Buyers and Savvy Sellers are taking advantage of this right now! They want to secure this year’s mortgage interest rates now before facing the higher rates in 2019. Two things we believe: in 2019 your mortgage payments will be higher and so will the price you pay for your home. Did you know that the Federal reserve raised their rates three times in 2017 and did three more consecutive increases in 2018? The Fed makes no secret that they intend to continue raising rates in 2019.
Did you know that a year ago, borrowing rates were under 4% and today they are 5%? That is a 20% increase in your house payment. Fortunately, the Temecula Valley offers affordability with quality of life style at the same time. Did you get my message? Buy now! It will only cost you more next year.
Happy Holidays! Give me a call at 951 313-4350 or email firstname.lastname@example.org