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Buy Before Year’s End!

Posted on December 13, 2013

Couple in office signing contractual documentsIf you’ve been considering buying real estate in Northwest Florida this December but are considering waiting until 2014, don’t. There could be several advantages to buying now.

We all know mortgage rates are on the rise. Right now it is still possible to lock in an interest rate around 4.5%, but this is expected to rise in 2014. If you have a found a home you love, lock that rate in now! Also, debt to income rules will change in 2014. While your DTI may be perfectly acceptable to lenders now, the decrease to 43% could keep you from purchasing in 2014.

You may think it is crazy to buy at the holidays, however, this time of year usually works to the advantage of the buyer when it’s a seller’s market, as it is now. Sales slow which causes inventory to sit and sellers to get anxious. One more reason to buy before 2014? You will be able to capitalize on tax deductions!

For more information and great tips, contact us at Brad Shoults Realty today.

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