Packing your bags for a summer vacation is always a great idea this time of year, but what about packing your bags for another change in scenery? Moving to a new home on the Eastern Panhandle! This summer has already seen some promising changes in the real estate market and looks as though it will continue to be lucrative for the West Virginia homebuyer. If you've been dreaming of a new home, ready to make a change by moving to another community like Harpers Ferry, Charles Town, Ranson, Shepherdstown, Martinsburg, Inwood, Falling Waters or Hedgesville, here are a few top reasons to help you make the choice:
Mortgage Rates Are Increasing
Mortgage rates for Eastern Panhandle real estate may not be at these levels for long and in fact, nationwide mortgage rates are expected to take a turn upward later this year. All four real estate institutions— the Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors— share the common belief that rates will be up a full percentage point by the end of next year. Given these projections, your mortgage payment one year from now will be more than it would be if you bought a home in Jefferson County or Berkeley County now.
Prices Are Rising
It's not just Eastern Panhandle mortgage rates that are set to increase— housing prices are too! In fact, the Home Price Expectation Survey polls a panel of well over 100 economists and housing strategists and they have recently projected home values to be between 30.8 percent and 9.4 percent over the next five years. Home values are likely to continue appreciating for the next few years, so waiting to purchase that West Virginia home no longer makes sense.
Your Personal Situation
One of the strongest reasons to purchase a new home in Harpers Ferry, Charles Town, Ranson, Shepherdstown, Martinsburg this year all depends on your own situation. Look at the reasons you want to buy; is it simply for a change? Is it for financial reasons? Is it to upgrade the spaces you currently live in? Whichever way you look at your decision to buy Eastern Panhandle real estate, buying a home sooner rather than later can end up saving you money in the long-run.
Want to see which properties are currently available in Jefferson County and Berkeley County? The Kable Team will work with you to find a home that fits your budget and your wish list. This summer is shaping up to be very positive for both homebuyers and home sellers, so don't delay if you're ready to make a move to a new West Virginia home.
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