After the recession of the 2000’s and the burst of the housing bubble, people are scared to invest in a home for themselves and instead are paying unbelievably high amounts for rent. In the long run, however, this is not a smart investment. For our readers, we interviewed Gladys Nosal an expert realtor from the Pensacola area who advises first time home-buyers on real estate and has long term experience with buying and selling in the housing market, and asked her for some advice.
Potential home buyers, who are nervous because of the state of the economy, fear not. Housing prices are reasonably low due to the pre-Hurricane Ivan real estate bubble (although they are on the rise) and interest rates are low as well. As of 2014, the median price of home listings in the Pensacola area is $119k (Zillow, 2014). Moreover, according to Bankrate.com, the predicted national average interest rate for a 30-year fixed rate mortgage is only 4.5%.
Gladys Nosal says that “if you have been thinking about buying a new home, the time is now and the place is Pensacola. Take advantage of the lowest mortgage rates and median list price in years, and a market bursting with quality properties.” She seems to be right – demand for housing in the Pensacola area has gotten so strong that builders are selling homes faster than they can complete construction.
While it is an exciting time for home buying, customers should proceed with caution. It is necessary to be realistic when buying a house, as well as thinking thoroughly about your needs. Financial stability is the key. The best way to figure out your budget is to talk to multiple lenders and banks about how much you can borrow, and at what rate. It is important to have realistic expectations. For their first home, buyers should look for a property that is within their budget but also fulfills their needs.
Pensacola is ideal for anyone who enjoys the peaceful outdoors – students, retirees, and families. There is something for everybody in Pensacola, beaches, golf courses, woodlands, nightlife and thriving art communities are some examples. Pensacola was America’s first settlement, and so it has centuries of history and culture. It is close to the area’s best facilities such as three large hospitals, an international airport and great colleges and universities, and while it embraces the future, it is still a small community with Southern charm at heart. Pensacola has accomplished so much, and things are still looking up: In 2012, it was voted one of the top 10 best places to live by US News and World Report, and just this past year, Trip Advisor recognized our beach as the #3 best in the US! It would be a mistake to not get in on the investment while the market is still up and coming.
Realtors can say a lot of things about an area in order to make a sale, so it is reassuring when they put their money where their mouth is. Gladys Nosal told us that “I have been living in the Pensacola area for over 3 decades and could not imagine a better place to call home. When I talk to buyers about the Pensacola area it is more than a sales pitch, it is a personal investment. And Pensacola really does me proud.”
To learn more please visit http://www.gladysnosal.com/