It's a Fine Time to Buy!

The snow is falling, the wind will start blowing soon, and tomorrow we are supposed to have a high temperature of -5. There isn't a better time to be buying a home!

In all seriousness, there isn't a better time to be buying a home! I don't believe there has ever been a time in history where we have seen low prices and low interest rates at the same time. As of today, our lender was reporting interest rates in the upper 4% range for a 30 year fixed rate mortgage.

To make that rate even better, our company recently rolled out a special buy down program that allows a seller or buyer to buy down that rate by a 1/2 point which would bring it into the low 4's for the entire length of the loan.

Combine that great news with a projected inventory of 8.36 homes for every buyer along with an average sale price that is down by 13.1% overall in the twin cities and the buyers should be jumping out of their sneakers in anticipation!

As far as money availability goes, there are many financing programs out there for buyers to take advantage of. If you know of anyone thinking about making a move or investing in a 2nd home, this just may be the best time ever to realize those dreams.

As always, if you want more specific inventory or interest rate information or have any housing related questions at all, do not hesitate to contact me. Enjoy the snow out there!