According to the National Association of Realtors, prices for...
According to the National Association of Realtors, prices for single-family homes rose more than 80 percent in 2012. While conditions are still advantageous for buyers, the market is changing, says Travis Jones of Rush Properties. According to a recent study, both home prices and home sales will continue to increase in 2013. Today, Travis Jones, Rush Properties' former president, advises homebuyers to take advantage of low mortgage rates and buy sooner than later.
Q: For the last few years, we've been in a buyer's market. Is the market finally starting to turn around?
Travis Jones, Rush Properties:Yes. We see more homebuyers competing for new homes, thereby creating a moderate sellers market. It's all about supply and demand.
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Q: What does this mean for the buyer?
Travis Jones, Rush Properties:A tight inventory means that house prices will continue to rise this year. And right now, inventory is down and prices are moving up.
Q: So is now still a good time to buy?
Travis Jones, Rush Properties:Yes. I would tell new homebuyers to purchase sooner rather than later. The inventory is down, but the mortgage rates are still at historic lows, which will eventually go up.
Q: Can buyers still get good deals on foreclosed properties?
Travis Jones, Rush Properties:Unfortunately, foreclosures are still very high in this country and buyers can still get a good deal on a foreclosure even though they are down 30 percent from a year earlier.
Q: What advice do you have for homebuyers?
Travis Jones, Rush Properties:I always tell homebuyers to do their homework regarding price, location and market availability, whether it's a foreclosed or non-foreclosed property. Only buy what you can afford; remember you are looking for a home that offers quality of living more than an investment.
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Posted in Real Estate Post Date 12/01/2014
Keller Williams Edge Realty Inc, Brokerage
Independently Owned and Operated
3027 Harvester Road Suite 105,
Burlington ON L7N 3G7
Office # 905-335-8808
Fax # 289-288-0550