Charleston
AFB– Knowing
if NOW is the TIME to BUY a HOME
We’ve all heard the
saying “Sell High, Buy Low” – and this is obviously great advice. The hard part is – knowing when the price has
hit bottom……
Today we are seeing more
evidence that the COST of a home in the Charleston AFB
area, has in fact hit bottom. Unless you
are an all cash buyer, you must take into consideration the expense of
financing a property to determine the true cost of purchasing the home.
Interest rates have increased over the last quarter; and the rise in rates has
counteracted any fall in prices.
For example:
In November 2010, the
interest rate was 4.17%. So a $200,000 Charleston AFB home
would have cost you $974.54 per
month (principle and interest).
According to a recent report from Case Shiller, house prices fell 3.9% in the 4th quarter of 2010. A recent report from the Federal
Housing Finance Agency showed a 0.8% fall in prices.
Let’s use the larger percentage decrease: 3.9%.
Today, let’s say the same
Charleston AFB area house
as above is now priced at $192,000 – but the interest rate is now 4.95%. – SO your monthly payment will now be $1,067.54 (principle and interest).
By waiting to pay
less for the PRICE of the house, the COST increased $93 a month. That adds up
to $1,116 a year and over $33,000 over the life of the loan.
Bottom Line
If you want to buy low,
buy now. It appears COST may have hit its lowest point.
About Military Homes of
Charleston
Military Homes ofCharleston is part of Coastalina
Realty of Charleston and is a full-service real
estate team based in Charleston ,
SC. Charleston
Military Homes of
Jodie Ford, Military Homes of Charleston
I specialize in helping military families enjoy a smooth PCS in and out ofCharleston
I specialize in helping military families enjoy a smooth PCS in and out of
Torri Jacobsen, Military
Homes of Charleston
Buying or selling a home doesn’t have to be hard, but choosing the right Realtor DOES make a difference. I specialize in making first-time home buying a great experience for military families moving to theCharleston , SC
Buying or selling a home doesn’t have to be hard, but choosing the right Realtor DOES make a difference. I specialize in making first-time home buying a great experience for military families moving to the
Charleston
AFB Real Estate, Charleston
AFB Real Estate For Sale, Charleston
AFB SC, Joint Base
Charleston, Joint Base
Charleston Real Estate, Military
Homes of Charleston
**Information provided by the KCM
Crew via www.KCMblog.com**
