The Real Estate market has been pretty busy this year. In 2012 a seller could be on the market for 3 - 18 months. Now there is such a shortgage of homes, that priced right and in good condition, they go under contract within days of being listed for close to list $ with multiple offers.
2012 was definately the bottom of the market and in 2013 prices are slowly increasing by 3 - 3.5%. Interest rates will slowly be creeping up by the end of the year from 3.875% to 5%.
This affects a buyer's power by $11,000 per $300,000. So, if you are looking at a $300,000 house now by the end of the year IF interest rates rise, you will now be looking at $289,000.
5 TOP REASONS PEOPLE BUY A HOME
FINANCIAL
1. Seeing Ownership as an Investment
2. Chance to Build Equity & Credit
3. Smarter Than Paying Rent
4. Most Cost Effective Than Renting
5. Financial Security & Stability
NON-FINANCIAL
1. Belief in Home Ownership
2. Don't Want to Live in a Rental
3. Better Place for the Family
4. Ability to do What They Want
5. Pride of Ownership
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