If a “re-lo” is on your agenda this summer, your timing couldn’t be better.
Lots of houses are available. Many of them have been on the market for a while, so the sellers are motivated, and while the local real estate market is beginning to turn, interest rates have never been lower, so now is the perfect time to buy!
Of course, buying a home is one of the biggest investments you’ll ever make, so do your research before you make an offer. If you’re new to the area or you haven’t shopped for a new home lately, be sure to consider:
- Is the population in the area growing, declining or staying the same? Buying a home in an area that’s growing will be a better long-term investment, as the value of your property is more likely to increase.
- Is the local economy healthy? Here in Bloomington-Normal, indeed in all of McLean County, we are fortunate to have a diversified economy – our economic base encompasses not only corporate headquarters for State Farm Insurance and Country Financial, but two universities, two hospitals, three major manufacturers and all their associated suppliers and a huge, historic base in agribusiness. Because of this healthy diversity, our local economy is stable, and to a large degree, we’re insulated from all the dramatic economic fluctuations that plague other areas.
- What type of economic development, infrastructure and other plans are currently underway in the area? We’re fortunate when judged by this metric, too. The McLean County Chamber of Commerce and the Economic Development Council of the Bloomington-Normal Area are staffed by extremely talented professionals who live here, work here, raise their families here and are personally invested in the future of McLean County.
So should you buy now? If you’re in the market, now is a great time to buy, especially if you intend to remain in the home for at least three to five years and you qualify for a fixed rate mortgage.
Rates have never been lower.
You’ll probably have a beautiful day to move in.
Your kids will be all settled in before school starts in the fall.
The fact is: all real estate is local. No matter what you hear on the national news every night, it’s essential to choose a local Realtor who knows the area and can make recommendations that will fit your unique situation. There are hundreds of Realtors around here. Interview a few, choose one and move in to your new home before football season.
We also know where you can get a great rate on financing your new home…