Interest Rate ~ The Cost of Buying a Frederick Home
Generally speaking, home sellers focus on the price of their home and home buyers focus on the cost of a home. The two factors in home buying happen to be at affordable lows today. Let's analyze the two factors and how they combine to create a historically affordable home buying opportunity:
The average price of homes in Frederick County Md have reached roughly 2003 prices.
Interest Rates determine the cost of buying a home, and rates are not what they were in 2003... they're lower. Historically low.
Comparing Interest
rates between today's rates of 4% and the rates in 2003, where were in
the high 5's. The same price home is $222 per month less with today's
rates.
Overall, real estate is still a good investment over time. Even with the recent real estate bubble, if you purchased a home in 2000, you will have still seen a great return on your investment over a 10-year period.
* All statistics provided by Case-Shiller.
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The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119