A Home’s Cost vs. Price Explained
Difference between COST and PRICE has often been a topic of interest. For those who are selling, the main concern is more than likely the ‘short term price’ – where home values are headed over the next six months. On the other hand as a first time or repeat buyer, you must not be concerned about price but instead about the ‘long term cost’ of the home. Call Craig Adelman today at 303.809.8979.
It was recently reported that a nationwide panel of over one hundred economists, real estate experts and investment & market strategists projected that home values would appreciate by approximately 8% from now to the end of 2015.
Not only that but, Freddie Mac’s most recent Economic Commentary & Projections Table predicts that the 30 year fixed mortgage rate will be 5.7% by the end of next year.
So What Does This Mean to a Buyer? Call Craig Adelman today at 303.809.8979
Here is a simple demonstration of what impact these projected changes would have on the mortgage payment of a home selling for approximately $250,000 today: