Remember the conditions a couple of years ago where, when you wanted to buy real estate, you had to get in line with lots of other buyers and bid against them for a property you wanted? Conditions have changed, and with a plethora of properties in the Hilton Head Island and Bluffton areas, it is an ideal time for buyers to buy. Selection is great–you can pick and choose from several homes. That may not last if inventories of existing homes, which are higher than they have been in decades, decrease as sales pick up, prices gain traction, and conditions improve for sellers next year.
In addition to the abundant supply of homes, there are also several types of mortgages from which you can pick and choose. Interest rates have fallen eight months in a row and are near 40-year lows. Even the vice chairman of the Federal Reserve says that the housing market outlook is improving.
And if you are comparing real estate to other types of investments, it is outstanding. The national median price of homes bought ten years ago has increased 88 percent, and most property owners in this area of the country enjoyed increases of more than that in the past ten years. Homeownership is a safe, secure way to build long term wealth. With the number of US households expected to increase 15 percent during the next decade, a high demand for housing should continue. “Most of the negatives in housing are probably behind us,” stated former Federal Reserve Chairman Alan Greenspan recently, “and the fourth quarter should be reasonably good, certainly better than the third quarter.”
So how many more reasons do you need to buy NOW? Contact a member of the Hilton Head Area Association of REALTORS® today!
Eleanor O’Key
Hilton Head Area Association of REALTORS