Buy now or wait for a better deal on a better house? Well the real answer may be right in front of you. According to the Multiple Listing Service of Greater Cincinnati the average sales price for single family homes continues to rise.
And while interest rates remain low the amount of home you can afford today may decrease in the future. provided infographics highlighting purchasing power:
Even if mortgage interest remain below 4.25% as the price of homes increases what you can afford to buy is decreasing. Or what I call “you snooze you lose” syndrome. Very frustrating for buyers and their agents.
Buyers who are holding off to clear up credit and debt issues don’t really have a choice. Buyers waiting for something better may want to rethink their strategy and get serious about making an offer to buy sooner rather than later. And potential sellers worried about having their home sold and nowhere to go (also know as home seller’s dilemma) discuss your concerns and options with your agent before putting your home on the market.