The Salt Lake real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the Salt Lake area click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 801.285.0521
In any given market, there are 30-year mortgages and 15-year mortgages available for home buyers to purchase. Usually, the difference between the 30-year and 15-year mortgage is only about half a percent. Right now, we're seeing a difference of .75%!
This doesn't sound like a lot, but if you understand the time value of money principle, this starts to look like a bigger deal. The time value of money principle is currently working for you - terms are as valuable as price, so make sure you're utilizing low interest rates if you have the ability to. Another thing to consider is how fantastic it would be to have your home paid off in only 15 years! This is a great way to pay more money toward your principal in a quicker amount of time and start saving for retirement sooner!
If you want to take advantage of our fantastic market conditions, or if you have any questions about 15-year mortgages, don't hesitate to give us a call or shoot us a quick email. We would love to hear from you!
