|Image courtesy of Stuart Miles at FreeDigitalPhotos.net|
There has been some uncertainty in the Viera, Florida real estate market for several years with the recent market "correction."
He asked me about interest rates (currently around 4.3% for 30 year conventional loans) and their direction. Although I know what the rates are today I have no idea where they are going down the road.
While it is true interest rates have been creeping up a little what most forget is the historical perspective. Interest rates are still at or near all time lows.
Then the conversation turned to the future direction of home values. Again, I am not clairvoyant.
I think consumers very often get caught up on the "appreciation" and "return" when it comes to buying a home. But buying a home should not viewed in the same context as just another investment.
There are other benefits of home ownership like favorable tax treatment or peace of mind knowing "home" is where you can always return to at the end of the day.
Will my caller buy a house in Viera, Florida this year or next year? I am not sure.
I am thinking he is pretty comfortable sitting on the fence. And no decision to buy a house in Viera, Florida is a decision.
If you are ready to get off the fence and buy a house or condo in Viera, Florida, call me at 321-693-3850 or email me if I can help in any way.
Thinking of selling your Viera, Florida home? The time is right with inventory levels low and prices rising!