Welcome to 2019: It's a Buyer's Market as Interest Rates Drop

MANAHAWKIN, N.J., Jan. 17, 2019 /PRNewswire-PRWeb/ -- Welcome to 2019, the year where favorable market conditions will give you the well-awaited boost you need to purchase the home you've always wanted. With historically low interest rates still looming, there is no better time than right now to make a move. "Today's rate is still low by historical standards and most home buyers, benefiting from a strong jobs market, should be able to shoulder the increased burden," according to Justin Lahart of The Wall Street Journal.

Those interested in purchasing a new home should act now or they will inevitably pay more in the long run. TransUnion, one of the three major credit bureaus, predicts that average rates on a 30-year mortgage could hit five percent by the end of 2019, according to a recent CNBC article. "The rate is a far cry from the heyday of double-digit interest rates in the 1980s, but it's a noticeable change from where rates were in the last year," according to Darla Mercado of CNBC.

What's the real difference? According to BankRate.com's mortgage calculator, a $500,000 home with 20 percent down at a 4.5 percent annual interest rate would elicit a mortgage payment of $2,027 per month. The same home with 20 percent down at a 5 percent annual interest rate would increase that monthly payment to $2,271. The $244 difference may not seem like a lot, but it adds up to $2,928 over 12 months or a substantial $87,840 over a 30-year loan. Still willing to wait?

For those who have decided to buy new now, Walters Homes, the Jersey Shore's premier full-service residential real estate brokerage company, has two new construction homes coming soon to Harvey Cedars that are definitely worth considering.

"Our goal is to bring a new level of customer offerings to Walters Homes by working with clients who are searching for new home opportunities on Long Beach Island and throughout South Jersey," said Matthew Gaudet-Walters, Director of Business Development for Walters Homes. "For those searching for a luxurious new construction home in Harvey Cedars, we have two exciting opportunities available. And with interest rates still hovering around 4.5 percent, there is no reason hesitate."

The first new construction home available from Walters Realty is a Harvey Cedars Ocean Block Retreat, located at 2 East 70th Street. Nestled on an oversized 80 x 80 lot, the ENERGY STAR® certified home exudes minimalist architecture with dynamic expanses of glass windows. Ideal for expanding families, the home offers 3,000 sq. ft. of inspired living space with five bedrooms and five bathrooms. Tone-on-tone exteriors with warm wood, horizontal slate, cultured stone and dramatic black accents makes this home the envy of the street. Enjoy luxury indoor/outdoor living spaces with a summer alfresco kitchen. Other highlights include a chef's kitchen and dual cedar showers. Priced at $2,395,000.

The second new home offering from Walters Realty is a Harvey Cedars Ocean Block Contemporary located at 3 East Mercer Avenue in Harvey Cedars. This ENERGY STAR® certified home features 2,467 sq. ft. of open concept living with five bedrooms, three-and-a-half baths. Other highlights include a gourmet kitchen, family room with wet bar and Jenn-Air® beverage center, multiple decks and dual cedar showers. Priced at $2,100,000.

"Walters Realty is here to serve as your guide to finding your dream shore home," said Gaudet-Walters. "Whether you are looking at one of our exceptional newly constructed residences; build a custom home designed by Walters Architecture; find the best resale on the market, or list your home for sale, Walters Realty has you covered every step of the way."

To learn more about Walters Realty, call Patrick Bocchicchio, Broker, GRI, E-Pro, FOM, at 609.597.6999 or visit walters-realty.com.

About Walters
Walters offers three divisions, Architecture, Custom Homes and Realty, to offer all-inclusive services that seamlessly bring a homebuyer's dream vision to reality. Walters Architecture is a completely complimentary service that allows homebuyers to work with in-house architects to design the perfect home with modern innovations and technology. Walters Realty offers full-service brokerage experts that help homebuyers find the right homesite depending on their desired location. Walters Custom Homes offers newly designed custom home plans that help homebuyers through the homebuilding process. Every custom home built by Walters meets or exceeds the energy efficiency requirements for ENERGY STAR® certification. Walters Homes is located at 880 Mill Creek Road, Manahawkin, NJ 08050. To learn more, call 609.597.6999 or visit waltershomes.com.

SOURCE Walters Realty