So, here in lower Alabama we finally made it through our brutal winter (kidding) and the first day of Spring is tomorrow, which is typically the unofficial start to the home buying season.

Are you on the fence wondering if you should buy a home now or wait?

I post weekly and monthly real estate reports for Baldwin County which include the cities of Orange Beach, Gulf Shores, Foley, Fairhope, Daphne, and Spanish Fort. With each report, as we moved closer to Spring, I could see the numbers changing and getting stronger.

4 Reasons to Buy a Home in Baldwin County this Spring

1. Prices will continue to rise. Although real estate market conditions have favored the buyer in Baldwin County for years demand has slowly been overtaking current inventory for several weeks. When there is more demand than there is supply, prices will trend upward.
   
   Still, even though buyers have had the upper hand in our area, pricing has still continued to rise year after year. Check out these stats: The median sales price for 2016 was 3.7% higher than 2015, 10% higher than the 3 year annual average, and 17.7% above the 5 year annual average.
   
   Baldwin County has always remained a desirable place to live so prices will rise and buying now will save you money.
   
   
2. Mortgage rates are projected to increase. When the economy gets better, we typically see interest rates rise and that’s happening now.
   
   We have seen interest rates hover around 4% on a 30 year fixed rate mortgage for years however there is a change in the wind. Fannie Mae, Freddie Mac, and the Mortgage Banker’s Association are all projecting that we will see an increase in rates by this time next year.
   
   If you are financing your next home purchase, higher rates will obviously impact your monthly payment for years so buying now will save you money. Find out how your credit score affects the mortgage process.
   
   
3. You’re paying a mortgage no matter what. Some people have the ability to buy a home but are concerned about taking on the obligation of a mortgage. However, unless you are living somewhere rent free you are paying someone’s mortgage payment, either yours or your landlord’s.
   
   If you own a home you are actually creating forced savings in the form of equity that you can access later in life. By renting you are building a savings account for your landlord. That’s not right!
   
   
4. Renting can be expensive. Studies have shown that renting can be 37.7% higher than owning a home and is 0.5% higher than the previous year. Another crucial factor that could impact your monthly payment is inflation which often causes rent to increase.
   
   By locking in a mortgage rate for a 30 year fixed loan, your payment will be the same until you pay off the loan.

If buying a home is the right choice for you and your family, buying a home now will save you a substantial amount of money.

About the author: The above Real Estate information on 4 Reasons to Buy a Home in Spring 2017 – Baldwin County was provided by Jeff Nelson of Bellator Real Estate & Development. He can be reached via email at [email protected] or by phone at 251-654-2523. Jeff has helped people move in and out of properties for nearly 12 years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

I service Real Estate sales in Baldwin County including the cities of Spanish Fort, Daphne, Fairhope, Foley, Gulf Shores, and Orange Beach.

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