Wednesday, February 26, 2014 / by Doug Leugers
One of the best indicators that the National Association of Realtors uses to gauge how the market is doing is by analyzing the average sales price. In southwest Florida, the average home price for 2012-2013 went up by 13% to $298,842 dollars.
Interests rates are sitting right at 4.3% but they are expected to rise upwards of 1% which would bring us to 5.3% interest.
What this means: If you purchased a $250,000 dollar home, then your monthly payments will rise by $161.08 because of rising interest. This accumulates to an extra $2,000 every year or $60,000 over the course of a mortgage!
If you're on the fence about buying, now would be a great time to make up your mind because there are many great deals out there and we can help you find homes that aren't listed on the MLS.
Contact me with any questions or if you're seeking assistance in finding a property. You can call me at 239-398-3131 or reach me at Doug@DLREE.com
Selling Luxury Estates, and Homes in Marco Island, Naples, Bonita Springs, Fort Myers, Cape Coral, Punta Gorda, Sarasota, Clearwater and surrounding areas, contact us for more info!