As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of the home.
The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac all projected that mortgage interest rates will increase by about three-quarters of a percentage point over the next twelve months.
According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 5.2% over the next 12 months.
What Does This Mean as a Buyer?
Here is a simple demonstration of what impact an interest rate increase would have on the mortgage payment of a home selling for approximately $250,000 today if home prices appreciate by the 5.2% predicted by CoreLogic over the next twelve months:
Call 786.554.8063 or email us George@GeorgeAssal.com, WE are here to facilitate and help you during the process of buying, selling, or renting any real estate needs, which will result in reaching your financial goals quickly and with ease, visit our page www.GeorgeAssal.com
The Related Group and Dezer Development joined forces to bring to Sunny Isles Beach, “The Residences by Armani Casa by Cesar Pelli” The most anticipated Ultra Luxury project in Miami. Only 261 families will have the honor to call the Residences by Armani Casa their home.
.- The brand: First US project by Armani casa
.- Location: Sunny isles Beach
.- The Archited: Cesar Pelli
.- Units: 260 units
.- Prices: starting from $1 million
.- Completion date: 2017
.- Floor Plan: 5 units per floor, the higher the unit the bigger it is.
The Residences by Armani Casa in Sunny Isles Miami are spacious units from 1358 Sq.Ft to 3,756 Sq.Ft and ranging in price between $1,000 – $1,500 per Sq.Ft
Unit A at Level 4 (Units at a Higher level offer more Sq.Ft)
4 Bedrooms + Den / 5,5 Bathrooms
Interior Sq.Ft: 3,326 (At level 28→ 3,527 Sq.Ft and No den – At level 54 → 3,756 Sq.Ft)