Category: Buy a House.
Time to buy is now!. There has not been a better time in years to purchase a home. Mortgage rates are at all time lows, sellers are motivated, Inventory of homes for sale is at an all time high, Owning a home is a great investment in your future, and uou may qualify for a tax credit. A Realtor will help you in many areas and represent YOUR interests. Before beginning your home search, talk with your Realtor about the benefits of Buyer representaion. A Realtor who is a Buyer’s Agent will promote YOUR interests and guide you through what can be a very complicated process. Home ownership is an investment in your future. A Federal Reserve study shows that the typical homeowner’s net worth is between 31 and 46 times the net worth of the typical renter. The median net worth for a homeowner in 2007 was $224,200 compared to $5100 for renters. This figure has gone down recently but it is still substantially higher than renting. A modest recovery for existing home sales is expected in 2010. Pent-up demand along with an abundance of safer mortgage products will lead to near term market improvements. Despite some contrary media reports and the current losses in value in the short term home values long term have and will continue to rise. Real Estate is a long term investment, home values fall in some years, but on average ove rthe past 30 years the median price of homes has increased more than 6 percent per year. Also when you own a home you can deduct the property taxes and mortgage interest from your taxes. Gains you make on your primary residence that youve occupied for 2 of the past five years can be tax free. Timing is everything! and the time is NOW to purchase a home.