Wednesday, June 12, 2013

Do I have Buying Power?

You may have probably heard the term "buying power" floating around in today's housing market. Buying power, also called purchasing power, is the value of money, as measured by the quantity and quality of products (and services) it can buy.

Buying power helps you get more house for your money!
Buying Power!
In real estate, this term is primarily based on a couple things, interest rates and home prices; getting more home for your money.

Current Interest Rates
When interest rates are low, a buyer has the ability to purchase more home for their money than when interest rates are higher.

Home Prices
In addition to great interest rates, home prices are still low but they are rising! 

When you couple awesome low interest rates with an improving market, it's a great time to invest in a new home! 

*There is no crystal ball for the housing market.  We can't guarantee the results of an individual buyer or market area.  Please consult a real estate professional to find the best plan for you.

Low interest rates = more buying power!

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