Posted: March 25, 2009
Is Now a Good Time
To Buy?
Author: Chris Reese
Now is an excellent time
to buy. Mortgage rates are low and so are home
prices. There are some outstanding deals
available on home right now and the financing is
cheap. Banks are even giving seller concessions
towards buyer's closing costs. You can buy a
home with a very minimal down payment and have
your closing costs paid by the seller. You can
buy a home and pay less each month for your
house payment than you would be able to rent a
comparable home for. Now is an excellent time to
buy a home. If your job is steady I would
recommend getting started right away.
There are many people that
are waiting for the bottom of the housing market to
get the cheapest price possible. There is a flaw in
this strategy though. Unfortunately you won't know
where the bottom of the market is until we are on
our way back up. Then you can look backwards and see
where the bottom actually occurred. Will you pay more
for the property because you waited too long? Will
rates be higher so that your monthly payments will
be higher than if you would have purchased a home
sooner? Will loan guidelines change to the point
where you no longer qualify by the time the prices
are low enough for you? With guidelines changing
constantly and mortgage rates being extremely
volatile, these are very realistic scenarios that
could affect you if you wait. If your job is stead, do your job is steady, do yourself a favor and call your loan officer to get started right away.
Author: Chris Reese
The above article was posted on Trulia.Com
- March 25, 2009
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