4 Reasons to Buy Before Spring

1. PRICES WILL CONTINUE TO RISE
The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment
strategists, and housing market analysts. Their most recent report projects appreciation in home values
over the next five years to be between 15.1% (most pessimistic) and 32.8% (most optimistic). The bottom
in home prices has come and gone and home values will continue to appreciate. There is no sense in
waiting – now is the time to buy!

2. MORTGAGE INTEREST RATES ARE PROJECTED TO INCREASE
Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year
mortgage have softened recently, most experts predict that they will begin to rise over the next 12
months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of
Realtors are in unison projecting that rates will be up almost a full percentage point by the end of 2015.
An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a
year from now if a mortgage is necessary to purchase your next home.

3. EITHER WAY YOU ARE PAYING A MORTGAGE
According to a paper from the Joint Center for Housing Studies at Harvard University:
“Households must consume housing whether they own or rent. Not even accounting for more favorable
tax treatment of owning, homeowners pay debt service to pay down their own principal while
households that rent pay down the principal of a landlord plus a rate of return. That’s yet another
reason owning often does—as Americans intuit—end up making more financial sense than renting.”

4 IT’S TIME TO MOVE ON WITH YOUR LIFE
The ‘cost’ of a home is determined by the price of the home and the current mortgage rate and it
appears that both are on the rise. But, what if they weren’t? Would you wait? Look at the actual reason
you are buying and decide whether it is worth waiting. Whether you want to have a great place for your
children to grow up, you want your family to be safer or you just want to have control over renovations,
maybe it is time to buy. If the right thing for you and your family is to purchase a home this year, buying
now, rather than later, could lead to substantial savings.