It is possible you may be shut out of purchasing your first home in a matter of years and you could be pushed out of your local market for years to come if you fail to take action.
With our goal of helping our clients and listeners achieve personal & financial wellness we feel obligated to reach out and let you know that your window to purchase a new home in many areas of California is disappearing.
A friend of mine, Barry Habib with MBS Highway and FOX news, shared this fact with me: Consider that prices in 1980 the median home price was $93,000 and today it is $184,300. Taxes and insurance would have been approximately $150/mo cheaper back then vs. today. Now, with interest rates at a mere 13,50% then compared to today’s mid 4% range. The total payment with principal, interest, property taxes and insurance with 20% down would be $50 per month less then it would have been 30 years ago. If you take inflation into consideration, this number becomes even more dramatic.
We truly love numbers, this is our area of expertise and we believe that numbers DON’T Lie. Below is a link that we feel is imperative to your decision making process. It will compare in detail the difference in cost, payment and purchasing power if prices go up just $50,000 and interest rates rise just 1.00%. For this analysis we are comparing a sale price of $350,000 at today’s estimated interest rates vs. a future sale price of $400,000 with potential yet conservative interest rates in the near future. You will see a dramatic payment change of around $584/mo.
Click to see more: http://mcedge.tv/16ggvj
All figures and APR fees are included in above link
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Don & Gino