It has been a while since I have taken the time to write. An article in the Florence Morning News this morning prompted me to take the time.  The article was about the fence sitters who have taken advantage of the “Cash for Clunkers” program that our government has instituted.  The article claimed that many people who have been waiting around to buy because of the economy, have purchased with this incentive.

The incentives in the Real Estate market are even greater. Why do I say that?  The average home in Florence, South Carolina sells for about $150,000.  At 5.25%, today’s rate, and with just a 1% increase the differences are very dramatic.  Many mortgage bankers are predicting gradual rate increases over the next 6 months.  Follow the chart below to realize how acting now can save you money.

The difference of almost $100 per month and $35,000 in interest payments over the life of the loan is huge!  This is a great opportunity to buy and upgrade your home.

The next question asked is………..”Houses just aren’t selling, how can I sell mine to buy another?”  Real estate is a local market.  The market in Florence, South Carolina is good, compared to many other areas in the country.  If your house stands out, is properly staged, and properly priced, it will sell.  If your home is in the entry level, and would be affordable to a first time homebuyer, even more reason to get off the fence.  The terms of the first time homebuyers program states that the home must be closed by the end of November to qualify.

If you are thanking about buying a home, weather a first time homebuyer, or just need or want a larger house, now is the time to act.