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Why It’s Time to Buy a Second Home in Key West
● Creeping home values. Prices are going up; however, homes here are still affordable, but that won’t be the case by the end of the year.
● Rising mortgage rates. Interest rates on home loans are going up and buying now means saving thousands of dollars over the life of the loan.
● Climbing inflation. You’ve likely been to the grocery store and to the gas station lately, and have noticed the price for consumer goods are on the rise.
● Paying less down. If you haven’t seen the real estate and mortgage industry news, lenders are approving home loans with less down than twenty percent.
● Enjoying a better lifestyle.
The real estate market is doing more than healing, it’s growing at a steady clip as home prices are beginning to rise across the country.
Localities once plagued by inexpensive inventory of distressed properties, which consist of short sales, foreclosures, and bank-owned properties are now being freed of artificially low prices as those types of homes.
Distressed properties represent fewer and fewer of the total percentage of active homes on the market, which is causing housing values to ris