It’s Official – Rates are on the Rise
One of the Friends of the Firm, Realtor Dale Hirst, posts this today:
In case you didn’t notice yesterday, the FOMC (Federal Reserve chaired by Janet Yellen) raised rates .25% yesterday and said they expected to do so again 3 times in 2017. How does that effect you? For those who are already home owners, that is overall good news as it shows a trend of improving economic conditions which is very positive for equity. Valuation is expected to increase 3 – 5% next year which would mean $6,000 to $10,000 for a $200,000 dollar home. Right now homes for sale inventory remains at lows. Congratulations! With all of this, the ability for buyers to assume your lower interest loan becomes much more valuable.
While this is good news for you, if you have any friends or family that are on the sidelines or in a decision making process, the time to seriously consider getting “in front of the parade” before rates and prices increase further is now. The time of procrastination is going to get increasingly expensive especially when the Spring season gets nearer. As always, if I can be of any assistance I would be happy to help. I always appreciate your referrals!
Selling Hampton Roads One Yard At A Time
Dale Hirst, REALTOR licensed in VA
BS West Point, Mdiv, MS Ed
Top 1% agents in Hampton Roads
Beach South Realty
5265 Providence Road #202
Virginia Beach, VA 23464
Give Dale a call or call Charlie or Jeff at our office if you need feedback on home selling, buying or refinancing plans you are considering. We love to talk real estate!
Charles Dandridge Pittman, Jr., Esq.
Anderson & Pittman PC
Real Estate Legal Services
712 Hillingdon Court
Virginia Beach, VA 23462