If you’ve been sitting on the sidelines waiting for the right time to buy, let’s look at what the projections are for 2022…then ask yourself, what’s actually holding you back?
Rates are projected to slowly climb to 3.55% by Q3 of 2022.
Home values are expected to rise an average of 5.2% through 2022.
A buyer’s worst fear is feeling like they overpaid for a home, especially in a competitive market like today. And I’ll be the first to say: that’s a totally logical thing to be aware of. There are a couple things to keep in mind though…
In most cases, you’ll have the appraisal contingency where the bank hires an independent appraiser to ensure the value of the home is the same as the amount of the accepted offer.
Secondly, the appreciation of homes will work in your favor. Let’s say you’re in an very competitive scenario and you paid $710,000 for a home…and that was pushing it….but you got the home!!
With the projection of home values, within a year your home will be valued at $746,920.
“Don’t wait to be Real Estate; buy Real Estate and wait.”