What to Expect from 2014
Welcome back to my video blog. The new year is just days away and I wanted to recap what 2013 meant to the real estate market.
During 2013 in the greater Philadelphia area, prices rose by about 4% over the year. Interest rates remained in the mid 4s, but are expected to increase to about 5.3% in 2014. What does that mean for you?
The time to buy is right now. If you wait and interest rates increase to above 5%, you are looking at an additional $161.08 to your monthly payment. That is around an extra $2,000 a year and an extra $60,000 over the lifetime of the loan. Buy now and save yourselves tens of thousands of dollars!
If you are ready to buy or sell, give me a call. Let's get started.
Thanks for watching and have a safe and wonderful holiday!
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