SELL NOW OR IS YOUR HOME WORTH $188 A MONTH MORE NEXT YEAR?
Real Estate Trends in Arrowhead Woods. 3/14/16 Issue 205
The buyer will pay $188.50 a month more if you wait for a year.
(Assuming you love the guy or gal we elect for the next four years)
As a seller, consider where Lake Arrowhead values are headed in the next year.
ARROWHEAD WOODS HAS 214 LISTING TODAY, an all time low inventory. Based on the law of supply and demand prices should rise as inventory declines. Based on local mountain lore, vacation home shoppers can wait or quit if they don’t find the home of their dreams. Home selection is very low, disappointing shoppers.
Advantage seller; a view of prices a year from now.
According to Economists at CoreLogic, the Home Price Index, prices are expected to rise 5% by this time next year. On the other hand, listing now is a significant advantage in a time of high demand and fewer competitors.
Disadvantaged buyer thinking about prices and rates going up.
Interest rates have dropped recently, a buyer incentive. However, Freddie Mac’s most recent Economic Commentary and Projections, predict a 30-year fixed mortgage rate will appreciate to near 5% by year end adding to the price of a purchase in 2017.
What Does This Mean to a Seller or Buyer?
We think there is too much uncertainty to bet on future income.
Now is better for both buyer and seller. A simple demonstration of the impact that projected changes would have on a buyer’s mortgage payment of a home selling for approximately $250,000 today. Then add a 5% price increase. Our model here is less than the median of $373,410 for Arrowhead Woods, the highest price in seven years.