So all the chatter about the Feds lowering the rate this year might turn out to be just that…chatter. Now the indicators are pointing in the direction of leaving rates alone. So let’s not get caught up in worrying about what we can’t control (rates), and concentrate on helping people do what they need/want to do…buy and sell real estate.

It’s still a great market for a first-time buyer. Stop paying off your landlord’s mortgage and start building your own wealth!

Here’s an example:

Just think, if you’re renting a home/apartment for $2,800 a month, that equates to just over $1,000,000 in rent payments over a 30-year period, without considering any rent increases. If you buy a $500,000 house today at 7% with a 5% down payment, your payment would be about $3,900 (PITIMI). Let’s say you’re in the 25% federal income tax bracket – that reduces your effective payment after the tax break to about $3,241 a month.
So, for approximately $440 more per month, at the end of the 30 years you OWN your home outright, and with appreciation over those 30 years, you’re talking about a nice piece of family wealth!! Or you continue to rent, and at the end of 30 years, all you have to show is the next month’s rent due.

Just saying, buying may be the better option for most folks. 😊

I hope that makes sense. Let me know your thoughts!