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Thinking of waiting to list your home until Spring?

by Kathy Brothers

Are you thinking of waiting to list your home until after the holiday season?  Or are you currently listed, and considering taking it off the market "because no one is looking now anyway?"  You may want to reconsider that decision!  Just ask this Happy Seller who got what she wanted for Christmas!  A contract and a "Sale Pending" sign!  Buyers who are shopping for homes at this time of year are NOT window shoppers!  They are serious buyers who want to buy a home NOW!  You can't sell if you aren't on the market! 

Should I Buy a Home Now?

by Kathy Brothers

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

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Kathy Brothers
RE/MAX Excels
1772 S. Randall Road
Geneva IL 60134
630-262-4312
Julie Fiorito - Buyer Specialist 630-201-6140
Fax: 630-208-9260