Since the beginning of June this year, mortgage rates have spiked up over 4%. When we compare 2015’s mortgage rates to those of 2013, it looks like we may be looking at the beginning of a steady increase. However, no one can say exactly how interest rates are going to behave in the next six months to a year.
But if you are considering buying a PA horse property, now is the time to get on board! Before interest rates rise much more, it’s wise to lock in at the lowest rate possible. Buyers who have been sitting on the fence can take the rising rates as incentive to get off the fence and take action! As rates rise, waiting to buy a home no longer makes sense for many buyers. Prices are also on the rise as we reach the end of the housing market slump. For buyers looking for a deal, now is the best time to start the home buying process.
Sellers can also make moves to take advantage of current interest rates; taking into consideration the possibility for continued increases. With rates on the rise, buyers are more apt to make offers and lock in to a lower mortgage rate, and competition between buyers will increase. Sellers of PA horse properties should be sure that their properties are being marketed aggressively and priced competitively to attract buyers who are ready to make an offer. Talk to your real estate agent to determine the best course of action and best price for your listing.
This jump in interest rates may also have positive impacts on the housing market as a whole. As buyers realize that NOW is the time to buy before rates get any higher, they will begin the home-buying process sooner. Competition will increase between buyers, contributing to an increase in home prices overall. Buyers AND sellers benefit by taking action sooner rather than later!
As both home prices and interest rates begin to rise, both buyers and sellers can take advantage of the current market conditions. By acting sooner rather than later, everyone benefits! If you are interested in buying or selling a PA horse property, contact one of the team members at Cindy Stys Equestrian & Country Properties, Ltd. today.
Eastern PA Horse Property Specialists – Call Us Today! ( 610) 849-1790
Our extensive knowledge of the eastern PA horse properties for sale market allows us to guide our clients intelligently. Whether you are looking to buy, sell or invest, we have one mission – to provide you with exceptional customer service throughout the entire transaction. We assist buyers and sellers within the following eastern Pennsylvania counties:
- Berks County PA equestrian properties
- Bucks County PA equestrian properties
- Carbon County PA equestrian properties
- Chester County PA equestrian properties
- Lehigh County PA equestrian properties
- Northampton PA equestrian properties
- Poconos PA equestrian properties
- Schulykill PA equestrian properties
For sellers, we also offer property evaluations and have acquired the knowledge over the years of how to effectively perform an accurate market analysis of PA horse farms for sale, general farms and PA back yard horse properties. Please give us a call today or fill out our online contact form and let us know how we can best assist you with your eastern PA horse property real estate needs!
Cindy Stys, Broker/owner
The Premier Equine Realty Firm Serving Eastern PA
720 Smith Hill Rd
Stroudsburg, PA 18360