Why Homebuyers Need To Act Now

Why Homebuyers Need To Act Now

 Why Homebuyers Need to Act Now

In compiling this report, Jonathan Smoke, chief economist for realtor.com® weighed many factors, including the long-term financial impact of owning versus renting, the amount estimated that renters will lose in waiting to buy, and the financial benefits of homeownership by market.

Interest rates, home prices, and the cost of rent are all predicted to go up throughout the year, which will impact the decision to delay purchasing a home, the report notes.

"Current market conditions give buyers the opportunity to build substantial wealth in the long-term, compared with renters and later buyers, in advance of  the projected increase in mortgage rates and continuing price appreciation," says Smoke.  "The problem is inventory is low, which has many would-be home buyers –especially first timers – standing on the sidelines and missing out on potentially material financial gains."

So what does this estimated long-term wealth gain really look like? Smoke reports that while some housing markets are more buyer-friendly than others, nationally the average buyer is set to gain $217,726 over a 30-year period based on today's dollars. Additionally, in 88 percent of metro areas, the financial benefit of buying a home right now accumulates at least $100,000 over 30 years.

"This analysis looks solely at the financial reasons to buy a home, based on assumptions about rising mortgage rates and changes in home values," says Smoke. "It's important to remember that a home purchase decision is deeply personal. Potential buyers need to consider factors such as upcoming life events, job security and potential relocation, in addition to financial benefits, because they too can have a significant impact on ownership."


Jenny Craig Headshot
Author:
Phone: 419-656-1105
Dated: June 1st 2015
Views: 678
About Jenny: For Service Beyond The Sale....Don't "WEIGHT" Contact Jenny Craig Today! Jenny has been a full t...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Here Are 5 Great Tips To Help You Pay Off Your Mortgage Early - Getting a 30 year mortgage
Move With Me To C L E NORTHERN OHIO REAL ESTATE - LOOKING TO MOVE TO THE CLEVELAND
Aug 14 2018 11858 1 - I found that most people need a
FAMILY COMFORT IN BRUNSWICK OHIO 4 BEDROOM COLONIAL FOR SALE - HURRY AND SEE THIS PRISTINE 4

Our Bloggers

The Partin Kostos Team - 116
Russell Aadmin - 290
Sherry Abell - 1
Marybeth Allen - 1
Dave Amarante - 8
Robert Andrews - 36
David Axford - 3
Heather and Rocky Baith - 7
Audrey Baka - 2
Lisa Baker - 25
Kayla Baker - 3
Anna Balduff - 25
William Bambrick - 1
Victor Baranovskiy - 1
Paula Barker - 25
Janet Beane - 1
Christine Begeman - 4
Olga Beirne - 3
Bellinski-Lynch Group BL Group - 123
Ryan Blake - 1
Chris Brandal - 21
Cody Branham - 1
Jason Brown - 7
Scott and Nancy Buchanan - 1
Jodi Burgett - 1
Carl Burgio - 1
Janice and Tom Burton - 18
James Cain - 2
Julie Clark and Cal Clark - 4
Mario Calabrese - 1
Martin Carlysle - 3
Alex Carney - 1
Terri Campbell and Carol Thomas - 2
Brett Casey - 2
Kim Casto - 19
Louise Ceepo - 1
Briana Childress - 1
Kathy Clark - 4
Nick Clawson - 7
Joe Clemenza - 1
Leah Comes - 4
Christina Coughlin - 2
Jenny Craig - 72
Mary Del Guidice - 1
James Dern - 8
Susan DiFranco - 8
Aaron Dolata - 51
Dawn Doleh - 1
Paige Elizabeth Dotson - 10
Ann Dowell - 1
Lynn Downing - 2
Heather Duncan - 1
Peggy Dunn - 3
Sara Eddy - 4
Saige Enos - 3
Annette Ervin - 2
Cara Farley - 6
Debora Ferrara - 4
Cynthia Fisher - 3
Bobbie Fogel - 1
Connie France - 20
Tammy Frazier - 4
Alesia Freet - 4
Jeff Frish - 21
Paula Furst - 23
SheAnna Garner - 10
Christina Gemmel - 1
Lisa Eyring and Geoff Lloyd - 2
Angela Giarikos - 60
Sandra Godbey - 1
Linda Gray - 4
Thad Gregg - 1
Maria Grimm - 23
Pam Hakaim - 4
Traci Hamlin - 1
Tricia Hanna - 35
Edward Harants - 2
Kaylee Harris - 3
Nikki Harsa - 38
Pamela Haywood - 3
Carol Herzing - 3
James Hiles - 6
Heather Hill - 14
Sheri-Lynne Hinton - 2
Matt Hlavac - 64
Belinda Hoffman - 28
Diane Hogrefe - 2
Sharon Hohman - 2
Peggy Hopp - 2
Gary Hopp - 5
Jewelle Hoye - 53
Laura Jackson - 3
Shona Jalowiec - 1
Donna James - 25
Debra Jeffreys - 2
Mary Kandell - 19
Kate Kashiani - 3
Jan Kasper - 6
Lisa Kassouf - 8
Christian Kenzig - 1
Tina Kerka - 2
Kelcie Kerstetter - 10
Jodi Kidd - 7
Gary King - 22
Kevin Kovach - 17
Earl Krogman - 1
Gloria Kusta - 17
Kerry Laird - 29
Jason Lang - 7
Stefanie Lange - 24
Joe Lattanzio - 61
Joshua Leonard - 24
Mary Little - 9
Sandra Lopatka - 12
Twila Lukavich - 4
Suzanne Mack - 1
Edward Madeline - 3
Jill Mader - 9
Liz Magyar - 12
Sandy Mangan - 5
Tiffany Mather - 16
Deborah McNeeley - 4
Yvonne Meder - 12
Lydia Melik - 57
Charlene Meyer - 13
Will Moine - 12
Kathy Montgomery - 2
Lisa Moore - 2
Debra K. Moore - 23
Muncie Moreno - 1
Christina Moretti - 8
Teresa Mullett - 4
Nancy Mullins - 3
Janny Myers - 3
Andrea Neal - 12
Doris Neenan - 1
Joanna Nemeth - 2
Jo Ann Nemeth - 1
Linda Nido - 1
Kelley Nuttall - 2
Carrie P Fiala - 35
Jennifer Parobek - 28
Tommy Partin - 3
Carolyn Patchin - 10
Chalon Patterson - 13
Dan Pelko - 14
Chelsey Pfahler - 4
Sandy Pinali - 15
Paul Pokryfky - 26
Mike Rakotci - 1
Kathleen Reinhart - 8
Mary Roche - 11
Kevin Rogers - 29
Sherry Rosbough - 13
Edith Ross - 33
Sandra Runyon - 1
Kevin Russell - 1
Carly Sablotny - 16
Donna Sadler - 9
Melissa Salem - 4
Christopher Salem - 4
Margie Sandin - 3
Sarah Schatz - 2
Kathy Schlessman - 9
Tim Semmens - 117
Sandra Shinn - 7
Ron Shorts - 8
Tamara Sims - 14
Janet Sirbaugh - 1
David J. Sleva - 3
Tammy Smith - 3
Scott Smith - 42
Jeanette Smith - 23
Brent Smith - 2
Helen Soeder - 1
Sarah Stashick - 41
Ann Steinemann - 5
Jodi and Ellis Stevens - 27
Jorunn Stimbra - 3
Karen Sutera - 5
Ronald Szmik - 12
Frankie Tadsen - 5
Jeffrey Tallman - 6
Jenny Taylor - 68
Casto Team - 1
Trista Tharp - 33
Julie Thompson - 8
Barbara Tibbitts - 4
Julie Trettel - 15
Patti VanScoy - 15
Bob VanScoy - 36
Rinula Vassilakis - 7
Brian Victor - 22
Nadija Vodopivec - 3
Brett Walchalk - 2
David A. Walzer - 3
Bill Warwood - 25
Amanda Wilkins - 14
Sara Williams - 3
William Les Wilson - 35
Sheila Wilson - 1
Andrew Wollf - 9
Jack Woodruff - 13
Lisa Yako - 11
James Yakovich - 1
Andriy Yakushchenko - 5
Angela Yuko - 1
Susan Zabrecky - 2
Stan Zarycki - 29
Denise Zarycki - 7

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Russell Real Estate Services
12198 Pearl Rd.
Strongsville, OH
440-379-1109
440-268-9647

Other Locations