Press Release

MORRIS PLAINS, N.J. — Are you ready to buy a home, but holding back, waiting to see what prices will do in the near future? 

According to Weichert Financial Services, putting off a home purchase could, in fact, prove costly.   

“Waiting to buy is taking a financial gamble, given the very real possibility of rising interest rates,” said Fred Watkins, president of Weichert Financial Services. “Even if home prices weaken a little in some areas – although economists expect modest price appreciation overall – any potential savings could easily be overtaken by hikes in mortgage interest rates that would lessen affordability.”

From a financial standpoint, the time to jump into the real estate market is now, Watkins said, as buying power has never been stronger. 

What Watkins terms “a rare combination” of historically low interest rates and stabilized prices has created ideal conditions for home buyers.  In past markets, he said, low rates have been accompanied by a fast sales pace and escalating prices.  Today, even though interest rates are still near their lowest point in 25 years, the sales pace has normalized.  As homes stay on the market longer, not only do buyers have more inventory to choose from, but also sellers are more willing to negotiate when an offer comes in.  

Home affordability is also spurred by the unprecedented number of mortgage options available today.  Weichert Financial Services offers more than 360 mortgage products.  These range from traditional fixed-rate loans that provide interest rate stability and predictable payments, to the newest innovative financing products, including those that offer the flexibility to choose how much you’ll pay each month.   For qualified buyers concerned that interest rates may go up while they house hunt, the Weichert Lock and Shop Program includes both a mortgage pre-approval and a lock-in feature that guarantees an interest rate for a specified period of time, up to 120 days. 

Watkins said, “Real estate remains one of the best investments you can make.  Compared to the last several years, the current real estate market offers buyers a greater opportunity both to find their dream home and to purchase it with a mortgage product and an interest rate that make that dream affordable.”    

An affiliate of Weichert, Realtors®, Weichert Financial Services serves every Weichert office.  Mortgage specialists, called Gold Services Managers, are available for mortgage counseling and quick mortgage credit approvals. 

Prospective buyers who would like to find out more about how market conditions are expanding their buying power are encouraged to call their local Weichert office to arrange a meeting with a Gold Services Manager.

Weichert has 18,000 sales associates in more than 440 company-owned and franchised sales offices in key markets throughout the U.S. A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both  residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance. For more information, call Weichert's customer service center at 1-800-USA-SOLD or visit Weichert's Web site, www.weichert.com. Each Weichert franchised office is independently owned and operated.