The word is out across the country that mortgage rates and housing prices are rising. But along with these two important homebuying factors, two others are stronger than ever— homebuyer confidence and demand. Now is the time for Wilmington, DE homebuyers to come off of the sidelines and jump into the real estate market before the current low rates disappear. 

According to the KCM Blog, real estate and finance experts have projected that U.S. home prices will appreciate by 5.4% in 2013 and The Mortgage Bankers Association, Fannie Mae and the National Association of Realtors have also projected that the 30-year mortgage rate will be at least 4% by the end of 2013. For instance, that means if your dream Wilmington, DE home has a current listing price of $200,000, you could see your mortgage rate increase by $56 if you delay your purchase by one year and in just one year, that listing price may seen a price increase of $10,000. 

Affordability is still high for Wilmington, DE real estate as it's currently coupled with low interest rates and low housing prices, as compared to last year's levels. In fact, Bankrate reports that houses have been at their most affordable level in the past year since the National Association of Realtors began tracking the data in 1970. The real estate market is now offering homebuyers the chance to purchase homes at a rate they can afford— but in observing the ever-rising mortgage and housing prices, the window will not last forever.

So don't sit back and wait for a better time to buy your Delaware home or even jump on a shortsale or foreclosure, the time is now to optimize your homebuyer wants and needs, especially if you are making the transition from renter to first-time homebuyer! 

If you are a first-time home buyer in Delaware, you need to be well-equipped to handle the competition! Find out how to get approved for a mortgage and learn more about the buying process at our FREE first-time home buyer seminars! 

As always, feel welcome to contact me for more information about homes for sale in Wilmington and Newark. I am here to help you with your home ownership goals!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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