Sedona Homes Online

#1 Sedona Real Estate & Sedona Home Search - Sedona AZ Foreclosure Homes

(928) 451-6098
  • Home
  • Search
    • Featured Homes
    • Personal MLS Portal
  • Local Info
    • Service Providers
    • Utilities List
    • Sedona History
    • Schools
    • Real Estate Taxes
  • Buyers/Sellers
    • Buyers
    • Sellers
    • Why Work With A CRS?
    • Calculators
    • Arizona Buyer Advisory
  • Contact
    • About Troy & Susan
    • Sedona Real Estate Blog
    • Reviews
  • Search
  • What’s it Worth?
  • ContactGet in Touch
    • About Susan & TroyAll About Us
You are here: Home / Sedona AZ Real Estate / What is the Cost of Waiting Until Next Year to Buy?

What is the Cost of Waiting Until Next Year to Buy?

December 13, 2017 By Troy

What is the Cost of Waiting Until Next Year to Buy? | Simplifying The Market

We recently shared that over the course of the last 12 months, home prices have appreciated by 7.0%. Over the same amount of time, interest rates have remained historically low which has allowed many buyers to enter the market.

As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.

The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 4.7% over the next 12 months.

What Does This Mean as a Buyer?

If home prices appreciate by 4.7% over the next twelve months as predicted by CoreLogic, here is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately $250,000 today:

What is the Cost of Waiting Until Next Year to Buy? | Simplifying The Market

Bottom Line

If buying a home is in your plan for 2018, doing it sooner rather than later could save you thousands of dollars over the terms of your loan.

Powered by WPeMatico

Filed Under: Sedona AZ Real Estate Tagged With: Sedona real estate

Contact Us

Sedona AZ Real Estate Broker Susan Deierling, ABR, CRS
Assoc. Broker
Realty Executives
Northern Arizona
Sedona AZ
(928) 451-6098 mobile/text/VM
(888) 494-0470 (US & Canada)
susan@sedonaemail.com

Contact Me | About Us

Sedona AZ Homes for sale Troy Deierling ABR CRS
Realty Executives
Northern Arizona
Sedona AZ
(928) 202-0700 mobile/text/VM
troy@sedonaemail.com

Contact Me | About Us

Contact Susan

Sedona AZ Real Estate Broker Susan Deierling, ABR, CRS
Assoc. Broker
RE/MAX Sedona
Sedona AZ
(928) 451-6098 mobile/text/VM
(888) 494-0470 (US & Canada)
susan@sedonaemail.com

Contact Me | About Us

Contact Troy

Sedona AZ Homes for sale Troy Deierling ABR CRS
RE/MAX Sedona
Sedona AZ
(928) 202-0700 mobile/text/VM
troy@sedonaemail.com

Contact Me | About Us
Realtor MLS HUD

Deierling & Deierling PLLC // All Rights Reserved Copyright © 2021 · Log in

Sedona home search

Sedona Homes Online Sitemaps | Post | Pages | Video | Category | Author | HTML

The data relating to real estate for sale on this website comes in part from the Sedona Verde Valley Multiple Listing Service (MLS). Listing broker has attempted to offer accurate data but is not guaranteed accurate by the MLS. All information presented is deemed reliable but not guaranteed. IDX is provided exclusively for consumer's personal, non-commercial use; and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use outside of this purpose is prohibited.