4 Reasons to Buy Now! Homes in Mebane, Elon, and Burlington, North Carolina Are Selling Fast!
Jun 18th, 2015 by Kay
Here are 4 important reasons you’d better hurry if you plan to buy a home this year:
1. Inventory is tight in most areas.
2. Prices are stable and rising.
3. Interest rates are expected to rise.
4. Closing costs are rising and closing time will be longer.
Inventory is tight in Mebane, Elon, Burlington, Graham and Alamance County. Many homes sell in hours or a few days. Even homes that need some work are being picked off the market. If you find a home you think you might want, act quickly.
There are less homes to sell, and more buyers wanting to buy. Inventory has dropped 30% since 2012. This has stabilized prices, and in many cases, caused increased prices. Remember the supply VS demand equation?
Mortgage interest rates are on the rise. The 3′s are gone, and moving higher in the 4% range. Next will be 5%….you’d be surprised how much a 1% increase in interest rate will add to a house payment! Smart buyers are rushing to take advantage now.
The biggest change is expected in 2015. You will have to pay more and wait longer to close your new home. Lender rules are facing a major change that will increase your closing costs, and extending the closing dates. We are warned that attorney fees and other loan fees will cause you to pay more to get your mortgage. Added paperwork and security measures could extend the closing time frame by at least 25%.
If you are a seller in North Carolina, you can get top dollar quick! It’s best to list with a very experienced agent within a large company who handles most of the real estate sales in your city or town.
If you are a buyer in North Carolina, a buyer agent with a lot of experience and neighborhood knowledge will find you the right home quickly.
www.TeamKHomes.com …..find all homes for sale here….largest and most accurate list available.
Buyer or sellers find all the homes for sale in Mebane, Elon, Burlington, Graham, Hillsborough, Chapel Hill, Greensboro and cities east or west on my website.