Is it Time to Buy a Home in Jacksonville?
Remember when you used to jump rope ? Timing is everything. If you twirl the rope too fast you might trip yourself. Too slow, you might get tangled up in the rope. Isn’t this kind of how the Jacksonville real estate market feels? Home builders, real estate agents, politicians, your hair dresser, even the nightly news anchor – they all tell you that NOW is the time to buy. But it kind of feels like there have been a lot of nows – first because home prices were falling and interest rates were dropping. Then “now” was the best time to buy because there was a tax credit that you could provide you with up to $8,000 off your home purchase. After that, “now” was the best time to buy because you could take advantage of foreclosures and short sales. And that pretty much brings us to now…
And NOW… mortgage rates are at a 50-year low. And some experts predict that home prices could go even lower – or at least not go higher in the short term. On the Equifax Personal Finance blog, Real Estate Expert Ilyce Glink argues that NOW really is a good time to buy because of those two factors. Your new home will cost less because prices are so low and because you won’t pay as much to finance it.
But if you really are planning to jump in NOW, you need to plan to stay awhile. Check out Ilyce’s post at Equifax to find out why before you buy your new home.
Filed Under: Jacksonville Real Estate • News
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