Yes folks, the national real estate market and financial boogey men can be scary. But Austin is truly a tale of 2 markets.
If the price of your dream home is less in 6 months than it is today, could it actually cost you more?
We know that some of you may be a little sensitive to four-letter words, but in this case we believe it will be necessary to use one. MATH! There. We said it.
LET'S DO SOME MATH!
For a 30-year fixed-rate mortgage at 4%, you would pay $71,869.51 in interest over 30 years on a $100,000 loan. Raise the rate just 0.5 points to 4.5%, and you would pay $82,406.71 in interest over the same period -$10,537.20 more! (Click here for current mortgage rates being offered.)
Put it another way (more math!):
Your monthly payments to borrow $100,000 for 30 years at 4% are are within $1 of borrowing only $94,000 at 4.5%.
LET'S SAY IT AGAIN
For ONE AMERICAN DOLLAR, you can get a stick of hash browns once a month from a fast food place or buy $6,000 more house. Amazing what math can do.
There may never again in our lifetime be a better opportunity to buy a home! We are not kidding! There are over 13,000 homes to choose from in the Austin area and rates are at historic lows.
SO WHY NOT CHOOSE A HOME WITH A TOP REALTOR AND THE #1 KELLER WILLIAMS TEAM IN AUSTIN. Karen Elliott can get help you get as close to those numbers as she can (she's good with math) and The Home Resource Group or Antonia Warren will help you find a great home!