This is something to think about. YES! home prices have been rising over the past 20 years, but let"s take a look at the affordablity of homes today. In 1993 the average sales price of homes in Searcy, Arkansas was around $65,000 and with an interest rate of 10% for a 30 year mortgage, the principal and interest payment was $570.42. Now lets look at todays numbers. The average sale price of a home today is $155,429 that"s nearl;y $90,000 more than it was 20 years ago. BUT, you take the low interest rates of 3% which will make your principal and interest payment $655.29. That is only $84.87 difference than what your payment would have been 20 years ago.
If you are considering buying a home today, do it now and take advantage of these great rates! Call Larry DeGroat today at 501-268-8489 and start packing.
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