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Monday, November 10, 2014

Homes Cost vs Price explained


A Home’s Cost vs. Price Explained

A Home’s Cost vs. Price Explained

Posted: 14 Oct 2014 04:00 AM PDT

We have often talked about the difference between COST and PRICE. As a seller, you will be most concerned about ‘short term price’ – where home values

are headed over the next six months.  As either a first time or repeat buyer, you must not be concerned about price but instead about the ‘long term cost’ of the home. 

Let us explain.

Recently, we reported that a nationwide panel of over one hundred economists, real estate experts and investment & market strategists projected that home values would appreciate by approximately 4% from now to the end of 2015. Additionally, Freddie Mac’s most recent Economic Commentary & Projections Tablepredicts that the 30 year fixed mortgage rate will be 5.0% by the end of next year. 

What Does This Mean to a Buyer?

Here is a simple demonstration of what impact these projected changes would have on the mortgage payment of a home selling for approximately $250,000 today: 


The Cost of Waiting A Year | Keeping Current Matters