You’ve been thinking about trading up for a while, and with the Scottsdale residential real estate market continuing its recovery, considerable returns in the stock market behind us in 2014, a surge in jobs in the past year, interest rates that are currently significantly lower than they were a year ago but predicted to rise in 2015, the time to buy a new home is now!
Sales have been relatively steady in Scottsdale and if they follow the typical pattern, as spring approaches, the buying activity will accelerate. Snowbirds and winter visitors return to warm up and recover from the cold Holidays and real estate’s busy season formally commences.
So when you put your call into your CPA to put the finishing touches on year end, you just might want to make a call to your Realtor and your financial planner, and get the ball rolling on the search for your new Scottsdale home.
Did you know that current mortgage rates are less than half of the historic long term average interest rate since 1971? Not only that – conventional rates are down significantly from a year ago. Conventional mortgage rates were 3.91% last Wednesday (compare that to 4.60% a year ago.) Jumbo rates were 3.80% last Wednesday. (Although jumbo rates are typically higher than conventional rates, the opposite has been the case for over a year.)