10 Reasons to Buy a Home
September 17, 2010 by admin
Filed under Real Estate Articles
- Image via Wikipedia
Why is now a great time to buy? Here are 10 reasons:
1. You can get a good deal. Prices are down 30 percent on average. They’re at a level that makes sense for people’s income.
2. Mortgages are cheap. At 4.3 percent on average for a 30-year fixed-rate mortgage, your costs to own are down by a fifth from two years ago.
3. You can save on taxes. When you add up the deductions for mortgage interest and others, the cost of owning can drop below renting for a comparable place.
4. It’ll be yours. The one benefit to owning that never changes is that you can paint your walls orange if you want (generally speaking; there might be some community restrictions). How many landlords will let you do that?
5. You can get a better home. In some markets, it’s simply the case that the nicest places are for-sale homes and condos.
6. It offers some inflation protection. Historically, appreciation over time outpaces inflation.
7. It’s risk capital. If the economy picks up, you stand to benefit from that, even if you’re goal is just to have a nice place to live.
8. It’s forced savings. A part of your payment each month goes to equity.
9. There is a lot to choose from. There are some 4 million homes available today, about a year’s supply. Now’s the time to find something you like and get it.
10. Sooner or later the market will clear. The U.S. is expected to grow by another 100 million people in 40 years. They have to live somewhere. Demand will eventually outpace supply.
Source: Wall Street Journal, Brett Arends (9/16/10)
More related Positive News
Fannie Mae Survey-70% say now is a good time to buy
September 17, 2010 by admin
Filed under Positive Real Estate
- Image by dalechumbley via Flickr
A survey by Fannie Mae shows that 70 percent of Americans believe it is a good time to buy a home. That is up from 64 percent in January 2010. Still, 33 percent–up from 30 percent in January–say they’ll rent next time around. About 67 percent believe housing is a safe investment, down from 83 percent of people questioned in a similar survey in 2003. Reuters
More related Positive News
WSJ: “Its time to Buy”
August 1, 2009 by admin
Filed under Positive Real Estate
Fear of overpaying for property is common these days, especially in places like New York where prices continue to be unstable.
Waiting for the right time can be expensive. Some buyers would have more equity today, despite falling prices, if they had bought when they were first considering it, instead of continuing to pay rent. Financing is fickle. Some people who were highly qualified last year can’t find financing this year because the credit market has tightened or their personal financial situation now makes them an undesirable borrower. Interest rates are headed up. If prices decline by another 10 percent, but interest rates increase by 1 percentage point, the monthly payment will be the same.
Source: The Wall Street Journal
More related Positive News
Affordability is Back!
April 10, 2009 by admin
Filed under Positive Real Estate
- 55 million families-or half of all U.S. households-can afford today’s $200,000 median-priced new home (National Association of Home Builders (NAHB)
- A typical family today can purchase a house with $20,000 less in household income and save nearly $500 per month on their principal, interest, taxes and insurance. The number of households that can afford to purchase a home today is 55.4 million, compared with 38.4 million two years ago, according to figures compiled by NAHB.
- Single-family permits were up 11 percent in February, new and existing home sales also posted gains and the huge inventory backlog is being slowly whittled down.
More related Positive News
Why now is the best to buy real estate
April 9, 2009 by admin
Filed under Real Estate Articles
The Market Will Rebound
Don’t believe me? It will someday that’s for sure. But who cares if it isn’t today? Let me tell you why.
Interest Rates are Cheap now and they won’t always be.
Property is Affordable Now and won’t always be.
Right now you can buy a property and because of historically low interest rates it will cash flow.
Rates are terrific, prices are low. Properties cash flow. If prices continue to drop for the next few years, and you are cash flowing so what? They will go up soon enough. Again you are cash flowing. Nothing is 100% and guessing games are for losers(with all respect to Alec Baldwin in Glenn Gary Glenn Ross). Now is the time to buy real estate.
If you do not believe that now is the time to buy real estate then you do not believe that real estate will go back up.
But one thing you had better believe interest rates will.
I had a talk with a pal of mine yesterday. He said that people are saving money now while making less.
But the geniuses in Washington just printed three trillion bucks! Those bucks are not circulating because like my pal said, everyone is gun shy and holding onto dollars. When things look half way good and some optimism starts flowing again, all those dollars are going to flood the system. Prices will rise for everything. And the guessers will get locked out again.
More related Positive News
Papers on Both Coasts Say Time To Buy Real Estate Now
December 23, 2008 by admin
Filed under Positive Real Estate
It May Be Time to Think About Buying a House
Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers.
We’ve pretty much blown through the first couple of stages of grief with regard to the Southern California housing bust.
There’s no room left for denial now that home prices in the Southland are down 44% from their peak in 2007, and there’s not much use for anger.
