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Spring is in the Air... "The American Dream Lives On"

SPRING 2015…”The American Dream Lives On”

Spring is in the air in Central Jersey real estate.  Despite the record snow and icy conditions, the Spring rush is on to buy and sell real estate.  Spring 2015 will be known as the perfect real estate market.

At Gloria Zastko, Realtors, March 2015 came in like a bear, but went out like a bull.  “There was March madness at Gloria Zastko, Realtors”, cites Andrew Zastko, owner of Gloria Zastko, Reators.  “We feel this is an indication of a powerful spring 2015 real estate market in Central Jersey.”

Gloria Zastko, Founder of Gloria Zastko, Realtors states, “Sellers and buyers are, or should be, very aware that today's low interest rates will not last much longer.”  Low interest rates are a win-win situation for both buyers and sellers.  They create affordability for the buyer, and the sellers benefit from a higher price for their home.  Affordability in any market is what creates steady and brisk sales.

Home prices are on the upswing, interest rates are historically low, and inventory is being gobbled up.  One can buy a home at a lower price than in the last several years, and finance it at very favorable interest rates.

We are not suggesting that one buy a home above their means, but are suggesting that if you don't yet own a home, or if you own a home and have been considering trading up or down, now is a great time to go shopping.

Today's interest rate is hovering at about 4 percent.  A $300,000 mortgage at 4 percent over a 30-year period is $l,432 a month for principal and interest.  This same $300,000 mortgage at 7 percent would be $1,996, a savings of $564 monthly.
It should be noted that for many years the interest rate in the USA hovered between 7 and 8 percent, and often times higher, so we are still at very historical lows.  Spring 2015 will prove to be an optimum time for today's buyers and sellers.  There has never been a better time to move in, move up or move out!  Act now or wish you had…the American Dream lives on!
 

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