We know that the job market has seen slow but consistent growth over the past couple of years. We are also starting to see the real estate market turn around as well. As unemployment has fallen below 8% and more people are starting to show some stability in their jobs, first time homebuyers are entering the market and investors are starting to buy again. Between the foreclosure numbers dwindling and home prices rising, it now may be just the right time to call a Coldwell Banker By The Lake realtor.
Have you seen or heard that real estate prices are rising in your area. I know that in Denver North Carolina we are seeing more people becoming homeowners and investors. Low mortgage interest rates are also hoping to bring buyers back into the market. When investors started to see prices tumble, they left the real estate market. Now that they see prices on the rise, they are buying up single family homes and properties in bulk. In other words, now is the time to buy.
Take a look at mortgage interest rates. Over the past dozen years or so we’ve seen rates as high as 8% and now see 30 year mortgage interest rates around 3.5%. If you can get into a 15 year mortgage you will be looking at rates at or around 2.9% as of October 2012. Why are we excited to see these rates? Because they are the lowest that they have ever been. The average homebuyer may save hundreds of dollars a month by buying today as compared to just a few years ago.
Many communities saw prices fall over 30% in the last few years. With such a drastic fall, becoming a homeowner is becoming all the more affordable. In Denver North Carolina, you can find a single family home currently selling for under $35,000 as well as a property currently priced as $3,000,000. With nearly 250 homes currently on the market, there are plenty of choices in properties in the Denver, NC area.
News was just released today stating that we will have the best seasonal employment opportunities in some five years. My recommendation as an investor and if you happen to speak to a Coldwell Banker By The Lake realtor is to check out the real estate market and buy now.
Coldwell Banker can show you many properties in the Denver, NC area.