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    Real Estate you should know

    3 Powerful Reasons to Buy a Home Now

    Whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home....

    • Susana Murphy
    • October 8th, 2019
    • 3 min read

    Whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home. Here are three major reasons to buy today.

     

    1. Affordability

    Many people focus solely on price when talking about home affordability. Since home prices have appreciated throughout the past year, they assume homes are less affordable. However, affordability is determined by three components:

    • Price
    • Wages
    • Mortgage Interest Rate

    Prices are up, but so are wages – and interest rates have recently dropped dramatically (see #2 below). As a result, the National Association of Realtors’ (NAR) latest Affordability Index report revealed that homes are MORE affordable throughout the country today than they were a year ago.

    “All four regions saw an increase in affordability from a year ago. The South had the biggest gain in affordability of 6.9%, followed by the West with a gain of 6.0%. The Midwest had an increase of 5.8%, followed by the Northeast with the smallest gain of 1.8%.”

     

    2. Mortgage Interest Rates

    Mortgage rates have dropped almost a full point after heading toward 5% last fall and early winter. Currently, they are below 4%.

    Additionally, Fannie Mae recently predicted the average rate for a 30-year fixed mortgage will be 3.7% in the second half of 2019. That compares to a 4.4% average rate in the first quarter and 4% in the second quarter.

    With mortgage rates remaining near historic lows, Fannie Mae and others have increased their forecasts for housing appreciation for the rest of the year. If home price gains are about to re-accelerate, buying now rather than later makes financial sense.

     

    3. Increase Family Wealth

    Homeownership has always been recognized as a sensational way to build long-term family wealth. A new report by ATTOM Data Solutions reveals:

    “U.S. homeowners who sold in the second quarter of 2019 realized an average home price gain since purchase of $67,500, up from an average gain of $57,706 in Q1 2019 and up from an average gain of $60,100 in Q2 2018. The average home seller gain of $67,500 in Q2 2019 represented an average 33.9 percent return as a percentage of original purchase price.”

    The longer you delay purchasing a home, the longer you are waiting to put the power of home equity to work for you.

     

    With affordability increasing, mortgage rates decreasing, and home values about to re-accelerate, it may be time to make a move.

     Does buying now make sense? 

    Let's Discuss Your Options!

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    About the author

    Susana Murphy

    508-345-5632
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    I'm Susana Murphy, and I founded ALANTE with a clear vision and a passion for redefining what real estate should be. Let me share with you why ALANTE exists, what we stand for, and what we aim to offer both our valued clients and our dedicated agents. ALANTE Real Estate wasn't just a business venture for me—it was a calling born out of a deep-seated belief in doing things differently, and doing them better. Having been in the real estate industry since 2005 myself as a top producing Realtor, I saw firsthand the immense potential for innovation and improvement. I recognized that traditional practices were falling short in meeting the evolving needs of clients and agents alike. My vision for ALANTE was simple yet profound: to elevate the real estate experience by combining cutting-edge technology combined with story driven marketing and timeless values. In an industry often defined by transactions, I wanted to focus on service. I wanted to create a space where clients felt heard, valued, and supported every step of the way, and where agents could thrive in an environment that prioritizes collaboration, growth, support and integrity. At ALANTE, we believe in offering our clients more than just transactions—we offer them transformative experiences. We understand that buying or selling a home is not just a financial decision; it's an emotional journey filled with dreams, aspirations, and life-changing moments. That's why we approach each interaction with empathy, expertise, and a genuine desire to exceed expectations. For our agents, ALANTE is more than just a brokerage—it's a community of like-minded professionals committed to excellence. We provide our agents with the tools, training, and support they need to succeed, all while fostering a culture of mutual respect, collaboration, and continuous learning. We believe that empowered agents create exceptional experiences for our clients, and that belief is at the core of everything we do. In an industry that's constantly evolving, we remain steadfast in our commitment to innovation and adaptability. We embrace technology not as a replacement for human connection, but as a catalyst for enhancing it. From advanced marketing strategies to streamlined processes, we leverage technology to enhance efficiency, transparency, and results. We don't just meet industry standards—we set new ones. We believe in raising the bar and redefining what it means to be a leader in real estate. Our dedication to excellence, integrity, and client satisfaction sets us apart, and it's what drives us to continually push boundaries and exceed expectations. So, whether you're a client looking for a personalized, unparalleled real estate experience or an agent seeking a supportive, forward-thinking brokerage, we invite you to join us on this extraordinary journey. Together, we're not just reimagining real estate—we're elevating it to new heights. Welcome to ALANTE Real Estate, where your vision meets our passion.

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