Is Now a Good Time to Buy a House? Chris Groves, Mortgage & Banker Expert, Talks About the Market, Predictions, Opportunities & Lifetime Goals

Is Now a Good Time to Buy a House? Chris Groves, Mortgage & Banker Expert, Talks About the Market, Predictions, Opportunities & Lifetime Goals

Mortgage expert Chris Groves talks about the best time to buy a property and how you can make this intelligent decision. First, let’s remember that Chris is the CEO of Groves Capital, a mortgage lending company that offers over 160 lenders and 1000 loan products. In 3 years, it has had more than 630 loan officers and has expanded to 22 US states. Chris then, is the right guy to talk to us about the real estate market.

“This time of the year is the best time to buy a property, in my opinion. Schools have started and families tend to not move at the start of classes, and with the holidays coming up it yields a better opportunity to buy as properties will tend to sit longer from August 15th through the end of January”, comments Chris. Even big companies like Blackstone and investment groups are buying as many properties as possible.

Nevertheless, when taking this decision, the most important advice he gives is to focus on your goal and talk with your CPA and mortgage broker to really know the numbers. Guarantee that it is a smart decision, not an emotional one. For example, renting can be more affordable than purchasing a home, but buying will always be cheaper in the long run.

Chris believes that the estate market will favor buyers this year, since the demand for houses is still very high and supply is very low. This is because production is around 2 to 3 years behind due to the COVID-19 shutdowns, as well as an increase in the costs of materials and labor. In this sense, as a homeowner, you will save taxes, and increase your appreciation and ability to leverage your money later to grow your wealth.

What are some predictions for the market in the upcoming months? Chris shares that they (Capital Groves) “are predicting a drop in interest rates towards the end of the year. This isn’t a reason not to buy now; secure your property now and if rates are lowered, you can refinance at that time”.

Buying a house is not a decision that should be taken lightly. Many people want to do it, but are not sure how or when is the right time to do so. Chris states, once again, to sit down with your CPA and mortgage broker to discuss your options, perks and risks to determine if buying a house is right for you. While doing this, obviously, have in mind your life goals, relationships and interests.

Additionally, Chris shares that now there are new loan products available that give consumers more options, facilitating the process and representing a relief. Some programs include down payment assistance programs, where the buyer doesn’t have to pay back. There are also non-traditional programs to qualify clients that are self-employed or don’t show a huge income in their taxes. There are adjustable rate mortgages and interest only programs to lower monthly payments too.

“For all of this, Groves Capital has a wide variety of lenders to provide the best options and the lowest rates to offer solutions that meet the clients’ needs and a 5 stars experience every time!” If you want to know more about such offers and pursue your opportunity of buying a property, click here.

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