An internal message especially for the Weichert sales team.
It’s an exciting time to be in real estate for many reasons. We remain in a period of record-high housing affordability, marked by low mortgage rates and well-priced homes. In fact, the National Association of Realtors expects that its housing affordability index reached an all-time high for all of 2012.
As the market shows ongoing signs of improvement, it is important to remind your customers and prospects how buying now can save them thousands of dollars. The math says it all: In 2005, the monthly payment on a typical home with 5 percent down was $1,801. Today, that same monthly payment would be only $1,039.80.
Not only does the buyer save almost $800 each month in mortgage payments, but their downpayment would also be less due to lower home prices. Most significantly is the distinct drop in mortgage rates from 6.5 percent to 3.625 percent, in this generic example.
Be prepared with the math. Show your buyers that waiting when you’re in the most affordable market we’ve seen in a long time just doesn’t make sense