Is now a good time to buy?
So, you know, there’s nothing worse than a, uh, real estate agent sitting around with a mortgage calculator. You know, I was just sitting here doing the math and, you know, back in February 70 detached properties, like your regular 1100 square feet, 70 cash home was selling for somewhere around $850,000.
In fact, I saw one sell for eight 50. Okay. So lots of money. So basically back at that time, rates were really cheap. In fact, you could get variable rate money at 1.4, 5%. So an $850,000 semi would cost you $170,000 down. And your monthly payment on that would be 23, 29 a month.
That same semi now is basically selling around 550,000 amazing right. $300,000 down. And guess what? You can buy that same semi now for $110,000 down and 2168 a month. You’re saving yourself close to $200 a month, uh, on your monthly payment and you’re saving $60,000 on your down payment, uh, buyers, if you don’t think now’s a good time to buy, uh, give your head a shake. Uh, it’s probably a really good time to buy. I don’t know how long this is gonna last.
Maybe rates will bump up a bit, but the opportunity is only gonna be around for so long. The other thing I’ve been noticing is listings are starting to diminish so that the number of active listings on the market is starting to go down.
I got a feeling, just a funny feeling that there could be a bounce in the market sooner than you think. So, you know, there’s nothing worse than a, uh, real estate agent sitting around with a mortgage calculator. You know, I was just sitting here doing the math and, you know, back in February 70 detached properties, like your regular 1100 square foot, 70 cash home was selling for somewhere around $850,000. In fact, I saw one sell for eight 50. Okay. So lots of money. So basically back at that time, rates were really cheap.
In fact, you could get variable rate money at 1.4, 5%. So an $850,000 semi would cost you $170,000 down. And your monthly payment on that would be 23, 29 a month.
That same semi now is basically selling around 550,000 amazing right. $300,000 down. And guess what? You can buy that same semi now for $110,000 down and 2168 a month.
You’re saving yourself close to $200 a month, uh, on your monthly payment and you’re saving $60,000 on your down payment, uh, buyers, if you don’t think now’s a good time to buy, uh, give your head a shake. Uh, it’s probably a really good time to buy. I don’t know how long this is gonna last.
Maybe rates will bump up a bit, but the opportunity is only gonna be around for so long. The other thing I’ve been noticing is listings are starting to diminish so that the number of active listings on the market is starting to go down. And I got a feeling, just a funny feeling that there could be a bounce in the market sooner than you think.
