Last week we talked a little about the temporary plateau in housing prices in Reno. Do you think it is time to take the plunge and finally upgrade? We vote yes, but that's not without reason. Thanks to the current economic climate and game-changing technology in the housing market, now is the perfect time to buy your luxury dream home. Here are a few reasons why now is the time.
Low interest rates
Lenders are giving buyers mortgage rates that are extremely enticing—you can get a mortgage below 4.0%. There’s a good chance these are the lowest mortgage rates we’ll see in a long time, which means affordability is at a high.
Prices are on their way up
Mortgage rates may be low, but housing prices are getting higher and higher because of demand—prices increased 5.1% year-over-year in November 2015. If you’re thinking about buying, delaying a few years could lead to a higher purchase price, or getting less home for your money.
A great job market
The United States added 2.65 million jobs in the last year. There’s increasing job security and available work, leading to high consumer confidence.
Technology makes buying simpler and less expensive
Along with listing websites like Zillow and Trulia, there are an increasing number of websites and apps that simplify the process, make it easier to shop around for homes and mortgages, and save you money.
Lower gas and energy prices mean more money in your pocket and more purchasing power. The money you’re not putting into your gas tank or toward your utilities can instead go toward saving for a down payment or affording a bigger monthly mortgage payment.
Have you been thinking of upgrading to your luxury dream home? Call us about one of our gorgeous properties, like 10611 Buckhorn Ridge in Truckee. This sophisticated home sits on 8 acres of breathtaking Truckee scenery. With large scale windows to take in the surroundings, and extravagant details like the stonework on the fireplace, you're going to love coming home to a magnificent estate. You'll be glad to have purchased when you did!
Search Tahoe Truckee real estate MLS listings at www.TahoeLuxuryRealEstateGroup.com or give us a call today 530 545 0587