The recent combination of new-home sales stabilizing and a booming market predicted, there are great opportunities for those seeking to buy a primary home or investment property. With the supply of homes on the market at a high point and mortgage rates at a low point, Seattle mortgage interest rates are right where a home buyer wants them.
Even the sales for existing-homes, which had been down recently, are once again rising. However, the inevitable demographic changes in the home buying market should also be a factor for current buyers. There are an increasing number of Baby Boomers entering the market for their retirement homes, and knowing where and when they will be buying will be strong information for investing in real estate today. Seattle mortgage broker Mike Sanborn said "It would be wise for investors to research, in advance, the trends of Baby Boomer retirement home purchasing in order to enter those markets ahead of time taking advantage of today's great rates and tomorrow's demand."
Many Baby boomers will be looking to spend time in the sun-belt region, but they are also looking for homes in the Inland Northwest and other affordable areas for the Summer and Fall months. Washington State has many affordable regions that have been experiencing double digit inflation over the last couple years.
There are no two ways about it, for those seeking a great rate on a Seattle mortgage, the time is now. Low rates plus high supply equals a great opportunity. Real estate investors can capitalize on today's rate environment and bank on tomorrow's Baby Boomer demand if they choose wisely.