The time to move is now. The interest rates are low. The New Eastside neighborhood is hot, although the temperature outside is not. If you are thinking of buying, selling, investing or lease, think now.
According to a recent Housingwire.com report, “Low mortgage rates, rising household income, and a surge in household formation among Millennials have significantly boosted demand for housing over the past year,” said Mark Fleming, First American’s chief economist.
“If you are considering buying, interest rates to finance your mortgage are lowest in 10 years there are many mortgage options,” says Lynn Brahin, ePro, AHWD, a broker with Urban Real Estate. “You no longer need much money down. Today, home ownership is more economical often times than paying rent.” The New Eastside longtime resident, investor and broker also recommends the importance often discussed with clients --- diversify your investments. “Renting is a lifestyle that affords individuals to have the freedom to move easily – but the equity earned in homeownership can afford the same resident the opportunity to be a second-home investor,” Brahin adds.