Why you should buy now!

Imagine this?  A real estate agent reccomending that you should buy a house... Shocking!  Well... here are the top 3  reasons you should consider buying now:

1. Rents are going up
2. Interest rates are going up
3. Prices are going up

Rents:
Rents in DC are increasing at an increasing rate.  Why are you paying your landlord's mortgage?
In DC buying is 41% cheaper than renting.  Yes you read that right!  See the article here.  Buying now will save you money.

Interest Rates:
Predicting the future is a fools game, but... it is clear that these historically low interest rates are not here to stay.  Here is a real world example of the impact of interest rate increase on the monthly costs of a mortgage.  In DC the median price is $432,500 (Assuming a 20% down payment and good credit etc.) At the current interest rate of 3.65% your monthly princple and interest payment will be about $1,582.  As interest rates rise, even to a historically low of, say, 4.5% your monthly principle and interest payment will rise by $171 per month to $1,753.  Not buying now will cost you real money! 

Prices:
So remember that economics class in high school?  Something about more money chasing fewer goods causes prices to increase.  Well, the Fed has been printing $85 Billion a month for the last few years (so money supply is going up) and last I checked the supply of houses in real terms is not increasing and the supply of houses actually for sale is decreasing. 

Add it all up and you have higher rents, lower interest rates and increasing real estate prices. Buying later will cost you real money.

 Contact your real estate professional to find your house today to lock in today's low interest rate, and ride the price wave upwards.

Washington DC is Awesome!  Live Here