How Will the Real Estate Market Affect You in 2014?

Welcome to my video blog. The New Year is here which might have you wondering what to expect for real estate in 2014. Last year was phenomenal; we saw incredible interest rates and a housing market on the rebound. We expect that trend to continue, but as the housing market gets healthier interest rates are likely to rise. Small increases might cost more than you think on your overall investment.

Let's take a look at what effect interest rates have on your purchasing power. If you buy a home for $250,000 at an interest rate of 4.22%, your monthly payment is $1,225.45 However, if you wait and buy the same house when rates are up to 5.3%, your monthly payment will be $1,388.62. That's a $162.80 monthly difference!

Don't wait to buy because it could cost you thousands of dollars. If you have any questions about the market or are ready to buy or sell, please give me a call at 561-951-9301.