Even snow can't cover the warm, inviting allure of the right home.

Even snow can't cover the warm, inviting allure of the right home.

With holidays on the brain and fresh snow in the streets, the idea of venturing out in search of a new abode may feel a bit untimely. Still, a move has been on your mind and in your plans; you may just need a little incentive to get the ball rolling (and keep it that way.)  For the current and potential buyers out there, here is some new information that may be just the kind of encouragement you need:

Consider supply. Chances are you have some idea of what you are looking for, where you’re looking for it and what price you’d like it to be. Unfortunately, inventory has been declining in many regions. Work with your Realtor to be on the look for anything new that shows up this winter. Being ready, even during cold temps, may put you in a great position before the Spring rush.

While temps are falling, prices and interest rates are on the rise. From now until 2018, a 25% appreciation in the price of homes is expected. Add to this a 5% mortgage interest rate as anticipated before 2015 by the Mortgage Bankers Association, the National Association of Realtors, Freddie Mac and Fannie Mae. Did we mention that this is a full point greater than current rates? Experts predict that rates will slowly creep up over the course of next year. We believe 2014 will be a great time to buy a home before rates go up excessively and allow you to buy a home at the lower end of values while reaping the rewards by 2018.

Buying low and selling high is ideal. Of course, you know this. However, given these projected increases, homes on the market are selling at lower prices than they will be by late next year. By purchasing at the current rate you avoid the expense of future inflation and can hope to eventually re-sell at a profit.

Don’t forget that homeownership helps creates family wealth.  As featured in a recent Tuesday Trivia question, the net worth of the average homeowner is 30 times greater than that of a renter. Since you must pay a mortgage, better it be for your own home than a landlord’s.

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