Just because temperatures have cooled down does not mean that Tam O’ Shanter real estate has! In fact, homes for sale in Tam O’ Shanter are considered highly desirable due to all the wonderful amenities this neighborhood has to offer. While inventory is very low right now, buying a home in the winter is a great time to snag a home for sale in Tam O’ Shanter without all the competition that spring and summer brings. But that isn’t the only reason. Read below to find out why you shouldn’t wait until spring and summer to buy real estate in Tam O’ Shanter, Bellevue WA!
Prices are only going UP! CoreLogic’s recently released their Home Price Index and it showed that home prices have gone up 6.3% just in the last year. In Tam O’ Shanter, the median home price has increased 17.7% while Bellevue in general has gone up 15.2% compared to last year. The same reports also state a predicted increase of 5.2% for the United States over the next year. By waiting to buy, you could be priced out of a home for sale in Tam O’ Shanter.
Home prices aren’t the only thing on the rise either. Mortgage interest rates have also gone up and they aren’t coming down anytime soon. They are still historically low which means you could get into that home for sale in Tam O’ Shanter with a great rate. After all, the littlest increase can impact your monthly mortgage payment a lot.
You are paying a mortgage regardless so it may as well be your own. Mortgage payments are like a forced savings. When you pay your mortgage on time every single month, your Tam O’ Shanter real estate gains equity that you can tap into later if you need.
Let’s take away the increase in home prices and mortgage rates for a second and look at why you are buying. What is your motive? Is it to be closer to Microsoft or freeway exits? Is it to be in the award-winning Bennett Elementary school district? Is it for an investment? Ask yourself these questions and then sit down with me to discuss your scenario. As the local neighborhood specialist, I know what is happening in my neighborhood. A good Bellevue, WA realtor will have your best interest at heart and advise you per your situation. For more information on buying real estate in the Tam O’ Shanter neighborhood in Bellevue, WA give me a call.