As you may have noticed, prices of real estate along the Grand Strand have increased over the last 12 months.
The future outlook of the Myrtle Beach area looks very promising with many professionals predicting appreciation for the next few years. There are great things happening in our area, and they are contributing to the growth and popularity of the Grand Strand. This is causing people to look at this coastal area as their place to invest or relocate.
But…What About Interest Rates?
Most bankers would tell you that interest rates are going to increase, and they will likely increase sooner than most people imagine.
I study the real estate industry often and I see more people lose money because of bad timing than they do by paying a few thousand more for a home. Time is not on your side in an appreciating market.
An increase in interest rates means that the “Cost of Borrowing Money” increases.
Don’t make the mistake that so many buyers make:
Don’t pass up your dream property because you want to buy it for $2000 less. If you miss the opportunity to buy your dream home because you want to save $2000, you risk buying it later and having to pay 1% more in the interest rate. That 1% increase in interest rate could cost you $2000 per year for the life of your ownership.
The choice is simple:
You can save $2000 now and lose $20,000 if you own for 10 years.
Saving $2000 today would be winning the battle.
Losing $20,000 over your ownership is losing the war.
If you are interested in learning more about concerns with interest rates than check out this article: Waiting To Buy Could costs Thousands . This is NOT a sales pitch, this is a fact based on data and logic.
We know which builders will pay up to $4000 of your closing costs or give you an extra $10,000 in upgrades.
Builders often promote specials to us that they do not show the public. So, if an agent does not represent you, you will never know that they would have given you closing costs or free upgrades. And remember, when you go into a new construction model without your real estate agent, you are not represented. If you do go exploring alone, make sure that you tell them the name of your agent. This will assure that you get every benefit they are offering.
There are good buys out here right now. Let's talk about your near-term plans and put a game plan together to help you reach your purchasing goals. With prices going up, we are negotiating hard with sellers and builders to get you the best deals.
Now is the time to buy a new home and build wealth.
And, it doesn’t cost you a penny to have us represent you.
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Provided courtesy of The Coastal Carolinas Association of REALTORS®. Information Deemed Reliable but Not Guaranteed. Copyright 2020 of the Coastal Carolinas Association of REALTORS® MLS. All rights reserved. Information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.