16 Jun 5 Solid Reasons to Buy Now
Lowest Housing Prices We’ve Seen in Years
Prices are at the lowest in several years and may soon start inching back up again. So buying now or in the near future may be the right time. An abundance of great priced product is available right now and should be taken advantage of!
Interest Rates at a 50-Year Low
Interest rates are near a 50-year low, according to housing analysts. The 30-year rate at this level is an attractive incentive to first-time buyers, or buyers such as empty nesters wanting to sell and move to smaller houses or condos.
Interest Rates Will Go Up
As the economic recovery gains momentum, interest rates are expected to increase, making mortgages more expensive. Even a half-percent increase in mortgage interest can add a hundred dollars or more to your monthly payments.
Low Down Payment Mortgages Available
Low-down-payment financing through FHA-insured mortgages is currently available as an additional option to buy a house. Potential buyers with less cash should strongly consider buying now.
Builders Eager to Sell
Home builders, competing with the resale market, are offering incentives to potential buyers to reduce their inventory of unsold new homes. Incentives may include cash for furniture or free refrigerators, washers and dryers.
Considering all the factors above, there may not be a better time to buy than right now. It’s a buyer’s market, but eventually this will change. Don’t get caught after the momentum shifts and be forced to buy on the upside.