Right now you can lock in a crazy interest rate but is the rush of buying a home forcing you to overpay?
The housing market is crazy right now if you are looking to sell, and dangerous if you are wanting to buy. Listen in to my advice to home buyers.
Have you watched houses in your neighborhood fly off the market?
Home prices are up 40% since 2012. It's the third fastest growth of home rates since the 1890's.
Some of you right now are tempted to make rash decisions because of the reality of this housing market - multiple above-price offers, adding cash to the deal, or even waiving the home inspection.
These mistakes hurt you in the long-run.
Don't let the housing market pressure you into making a financially regrettably decision you wish you would have approached with more wisdom.
The Key Question To Ask In This Insane Home Market Is This:
Why Am I Buying?
Mortgage rates are great right now. It is a great time to buy in terms of the interest, but only if you are able to find a good deal that doesn't lead to reckless decision making.
The risk you face when buying a home today is the home value likely won't go up much.
If you are buying, you have to be careful. You are buying at the top of the market.
Be sure you understand your motives and have the self-control to make a financially-wise decision that helps you reach your dreams.