Are You Still Renting? Why?
A common known fact is that home ownership is one of the biggest factors a person can make to build a finically stable future and to build long term wealth. In the media lately all we have heard is how bad the housing market and how bad the economy is. Well what better time to build a solid foundation for your economic future? Why help pay someone else mortgage when you can pay your own?
Some honest numbers to look at, instead of listening to the media and reading the papers. Now more than ever is the time to sit down with a mortgage real estate professional to see if it is the right now for you to buy a home. In an article from CNBC.com pending home sales rose for the 8th straight month in September. In August pending sales rose 6.1 percent this rise was the largest annual rise on record.
Right now is the time to buy. The $8,000 tax credit for first time home buyers is set to expire on November 30th 2009. There is a possible extension till April but it has not been passed yet. This $8000 tax credit can be used to make mortgage payments, to buy new furniture for your new home, or anything you wish.
The market is still flooded with homes for sale, and sellers that need to sell now and close fast. More than any time in the last 30 years sellers are coming down in price and willing to work with buyers to meet their needs.
Now is the time to call a realtor to find out more about the $8000 first time home buyer credit and to find out about what kind of home you could be living in soon. I was recently out with a first –time buyer and with the low rates of 5%, her payment was going to be approximately $500.00 a month. There aren’t many –if any- places you can even rent for this price SO why rent when you can buy?
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