The big question in real estate right now is affordability. With very low housing inventory [ houses available for sale on the market], potential homebuyers are finding themselves more and more in high competition.
Yet, the current mortgage rates are extremely attractive right now. According to this article in Keepingcurrentmatter.com;
Housing Affordability
Housing inventory is at an all-time low. Realtor.com just reported that there are 39% fewer homes for sale today than there were last year. At the same time, buyer demand remains strong. Purchasers, however, should realize that the price of a house is not as important as the monthly cost. Here’s how it breaks down.
There are several factors that influence the cost of a home. Two of the major ones are:
- The price of the home
- The mortgage rate at which a buyer can borrow the funds necessary to purchase the home
Record Low Mortgage Rates
The number one factor impacting today’s homebuying affordability is record-low mortgage rates. There’s no doubt that prices are on the rise. However, mortgage rates have fallen dramatically. Last week, Freddie Mac announced that the average interest rate for a 30-year fixed-rate mortgage was 2.72%. Last year at this time, the average rate was 3.68%.
Flex Space in New Home
There is no doubt that homebuyers are searching for homes that can function as an office, school and gym during these times. One great thing about South Wind is the option of a basement. Each home offers spacious open plans, and some offer a basement, adding the perfect place for extra function. The basement is a flex area available for a fourth bedroom, home office, or teen/in-law suite. You will have your choice of three or four bedrooms with two & one half or three and one-half baths. Love coming home to the timeless exteriors with extraordinary brick, stacked stone, and cedar shake exterior accents.
Pre-selling Homes now to close in Spring 2021. Holiday buyer bonus available through January 31, 2021.
These homes have the award-winning designer touches so well-known with Rocklyn Homes. Love the outdoors with a Clubhouse, Swimming Pool and, Tennis Courts. Click here to see all the virtual tours.
Call Dara Mims at 404-759-8480 or email SouthWind@RocklynHomes.com.
GPS Address: 5100 Rosewood Place, Fairburn, GA 30213
Award-Winning HomeBuilder
Award-Winning Rocklyn Homes is one of Atlantas Top 5 Homebuilders in the Atlanta Business Chronicle. Rocklyn is ranked nationally at #68 in the 2019 Builder 100 List by Builder Magazine. Rocklyn builds quality single-family homes and townhomes with award-winning plans in the Metro Atlanta area from the low $200s to $400s.
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*All photos shown depict similar products being built. Price, plans, specifications are subject to change without prior notice. * All options are per plan