If you have been watching Highlands NC and Cashiers NC real estate you might have noticed that mortgage rates are on the rise. While rates are still affordable they recently hit above 5% for the fist time in ages, a sign of stability on the horizon for the economy. What does this mean for anyone thinking about buying property in Highlands or Cashiers? When rates rise the long term cost of home ownership rises as well.
The question many people looking at Highlands property may be asking is whether home prices will drop any further? The luxury market is definitely different from the lower end market in that listing prices have not dropped significantly. That being said a home is merely worth what someone is willing to pay for it.
The real cost of real estate rises with interest rates. Therefore, if you are thinking about buying Highlands real estate in the coming year there couldn’t be a better time to get out and look. Contact us today to learn more about what is going on with regards to Highlands real estate. We have access to all listings currently on the market and also know what buyers are truly motivated to sell.
For more information about Highlands and Cashiers North Carolina, and for access to the Highlands/Cashiers NC MLS, contact Meadows Mountain Realty today, 828-526-1717 or email us today at info@bhhsmmr.com.
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