In Trulia’s 2014 Rent vs. Buy Report, they explained that homeownership remains cheaper than renting throughout the 100 largest metro areas in the United States; ranging from an average of 5% in Honolulu, all the way to 66% in Detroit, and 38% Nationwide!
The other interesting findings in the report include:
Even though prices increased sharply in many markets over the past year, low mortgage rates have kept homeownership from becoming more expensive than renting.
Some markets might tip in favor of renting later this year as prices continue to rise faster than rents and if – as most economists expect – mortgage rates rise, due both to the strengthening economy and Fed tapering.
Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.
Bottom Line
Buying a home makes sense. Rental costs have historically increased at a higher rate of inflation. Lock in a mortgage payment now before home prices and mortgage rates rise as experts expect they will.
Debbie Woolard Group
(757) 288-0194
www.DebbieWoolard.com
Excellent Service – Excellent Results
Buyers Agent/Sellers Agent
Our focus is helping people find and exchange dream homes. We are seeking buyers and sellers that desire concierge level service including great communication, extraordinary representation and a continuing relationship for years to come.
You and your referrals will be provided with a great team of professionals to help with each step of the process. We are committed and passionate about negotiating the best possible terms and serving our clients at the highest level. Our goal is to create memorable real estate experiences where our clients become raving fans.
Our clients benefit by having a Certified Negotiation Expert on their side. This provides them with better results, a smoother process and greater satisfaction.
Whether a person is looking to buy or sell a starter home or a multi-million dollar estate, Debbie Woolard produces great results for her clients. She gives clients what they expect and deserve, an experienced realtor skilled in marketing and negotiations.
With Debbie Woolard, you will receive personal service as well as exceptional professionalism. She is well qualified for her work with her strong background of sales and marketing. Having been born here and continuously living in the area, she is familiar with the entire Hampton Roads region.
She has earned the professional designations of Certified Negotiation Expert, Certified Residential Specialist, and e-Pro. In addition she is also a Short Sale and Foreclosure Resource with extensive training in short sales and foreclosures. This uniquely positions her to help those in danger of losing their home to foreclosure. It has also proven to be beneficial to the buyers that are seeking to purchase a short sale or foreclosure.
She is well qualified to help professionals, business owners, military personnel and other clients with their real estate needs. She has been selected to work with both the Military Team and Relocation Team. She is consistently producing outstanding results in real estate.
Her first year in real estate she was awarded Listing Rookie of the Year as well as Sales Rookie of the Year. Her sales and loyal following of satisfied clients have grown each year she has been in business. She is in the top 1% of the agents in the area based on sales volume. Her practice continues to flourish thanks to clients recommending her to friends, family members and business associates.
Her clients state that her actions and attitude are best described with the word “integrity”.
Realtors with the Debbie Woolard Group service Virginia Beach, Chesapeake, Norfolk, Suffolk, Hampton, Newport News & Portsmouth with specialist in seller representation, buyer representation, military relocation, first time home buyers, short sales and real estate investment.