How To Buy A Home In Today’s Market
We are living in very uncertain times. The price of homes has dropped more in the current recession than they did in the great depression. Not only that, we could be looking at another recession on top of the one we already have.
New home construction has all but stopped and the foreclosure industry is growing in leaps and bounds with the foreclosure inventory over shadowing the non-foreclosure housing market. Ok, enough of the depressing stuff.
So what do you do if you are ready to buy a home now? Should you wait or should you dive right in? Well, that is the question that many people are asking in today’s housing market.
Here are some positive reasons to buy now and not wait until you “think” things will “improve”.
1. Interest rates have dropped to all time lows. A 30 year fixed mortgage rate in some areas is lower than 4% – that is something that is not likely to go much lower, so waiting for a lower interest rate just doesn’t make sense. What does make sense though is to jump on these rates while they still exist because we will probably never see this again in our lifetime.
2. Even though the housing market is at an all time low, you need to remember that home values fluctuate over time, they can’t keep going down forever. So buy your new home then sit back and relax because the housing market will improve!
3. It is a great time to buy. Why? Because you can sell your current home and buy another home that is perhaps bigger or in a better location, or has better schools. Whatever the case may be; sell your home and start movin’ on up. Get a home that is more suitable for you and will last you for many years to come. Then when you’re ready, you can sell that home at a profit, because more than likely the housing market will have improved by then.
4. Consider renting your current home and purchasing a new home for you to live in. This will be a nice little investment for your future. Why not buy now while the prices are so low and pay yourself back in spades over time.
5. Whatever you do, make sure that you buy within your budget. Try to keep your budget in a range that one salary can handle that way if one of you loses your job the other can still keep up the pace until you are back on track.
Remember, you are buying for the long term, so don’t worry about the ups and downs of the housing market. You are in this for the long haul. Before you buy, make sure you are stable in your job and make sure you have reviewed your budget thoroughly and you will be just fine.
Now you are ready to call your favorite real estate agent and request a list of homes that will be perfect for you. Your real estate agent knows where the deals are and will be able to potentially save you thousands of dollars. So pick up the phone right now and call – what do you have to lose? Well, except thousands of dollars!
Having the right real estate agent means having an agent who is committed to helping you buy, sell or rent your home with the highest level of expertise in your local market. This commitment level has helped me build a remarkable track record of delivering results.
Nothing is more exciting to me than the gratifying feeling I get from helping people meet their real estate needs. You can count on me to always do what’s in your best interest. I pride myself on being honest, trustworthy, and knowledgeable in the real estate market. I know how important it is to find your dream home. Therefore I will make it my responsibility to help you achieve those goals.
Whether you are an experienced investor or a first time buyer, I can help you in finding the property of your dreams. Please feel free to browse my website or let me guide you every step of the way by calling or e-mailing me to set up an appointment today.
About the Author: Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida. Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties. For more information please forward your request to communityinfo@comcast.net
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