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GET OFF THE FENCE ! - LOWEST MORTGAGE RATES IN 40 YRS ! - GREAT TIME TO BUY !

GET OFF THE FENCE ! - LOWEST MORTGAGE RATES IN 40 YRS ! - GREAT TIME TO BUY !

Within the past few weeks, 30 year fixed mortgage rates were available to those who qualified at just over 4.5% !!!!

... that's an amazing opportunity lock in a super low rate for 30 years !

For those out there even considering whether to buy a new home or not, this is something to seriously contemplate, as we havent seen rates this low in almost 40 years !

And let's not forget that HOME PRICES are the lowest that we have seen in many years too in most areas !

Of course, there are serious economic concerns for many, including job security and rising costs of living, but you may find that with these rates, a mortgage payment may be manageable, and if you have wanted to buy but just held off because of market uncertainties - well these rates might just be good enough reason for you to jump off the fence !

If you have questions about the current market or listings in your area, contact your local Realtor for all the information you could want to help with your decision making !!!

... don't end up a few years down the road regretting that you didn't buy now !!

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>> Dont miss other upcoming blog entries from "ThatBritishAgent" !

Sheldon Neal is a Full Time Realtor® with RE/MAX, specializing in Homes For Sale in Central and Northern Bergen County, NJ.

Sheldon is also a proud Bergen County resident !

If you are looking for Bergen County Realtors, call local expert Sheldon Neal for all your Bergen County
Buying & Selling needs !
Sheldon Neal ~ RE/MAX REAL ESTATE LTD.
cell: 201-481-2891
email: SheldonNeal@remax.net
website: www.SheldonNeal.com

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Posted by Sheldon Neal ~ That British Agent ~ Bergen County NJ on 07/25/2010 11:50 PM

Comments (27)

Considering Buying, Now May Be the Right Time in the Regional (Localism) Channel

lowest mortgage rates in 40 years, buying a home

Originally posted at: Sheldon's Blog: GET OFF THE FENCE ! - LOWEST MORTGAGE RATES IN 40 YRS ! - GREAT TIME TO BUY !

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27 Comments on GET OFF THE FENCE ! - LOWEST MORTGAGE RATES IN 40 YRS ! - GREAT TIME TO BUY !

JUL

2010

Hi Sheldon,

You're so right, these rates are amazing. You mentioned a 40 year low, I was actually a home buyer in 1968 ( 42 years ago, yes waaaaay back then) our rate on our FHA loan was 6.75 back then. Who would have ever thought we would see anything like we are today.

Ha Lynda ! Wow ! 6.75 ! Well that makes it even better then !!!

I think some people are just waiting for that ROCK BOTTOM RATE before rates go back up, but you know how you know when it was rock bottom - when it's gone back UP !!!!

... it's a GREAT time to buy right now :o)

Cheers Lynda !

JUL

2010

Hi Sheldon, It's true the interest rates are incredible, it really doesn't get much better than this! I think some people who could move on the rates might still be waiting for everything to go back up before they sell (for more money). Now is a great time to sit down with a Realtor and take a look at the big picture.

Good point, Sheldon! You just got re-blogged by me :o). Have a great week...

Hi Sheldon-

Great post. When I bought my first home the rate was 18% and I had to beat out 2 other buyers to get an FHA Assumable at 9.25. I was up night praying to pay 9.25. It' will be hard when it's gone.

Buyers don't understand how great ths rate is.

Sara in San Antonio

With the properties being priced so low in my market and the rates being so low it is cheaper to pay a mortgage than to rent. You have to live somewhere...you might as well own your home. You are absolutely right. I bought a house in March and I pay about $300 less per month than if I rented my house!

Sheldon, it's truly a great time to buy with super low rates, great home prices and sellers anxious to negotiate.

Good morning Sheldon,

It doesn't get any better than buying right now! Low interest rates & prices and a large inventory to choose from!!

Sheldon, we must have ESP. I posted about this very subject, albeit from another angle, about 5 minutes before you posted this one. Great minds think alike.

Prices and rates are way down, and smart people buy low.

Sheldon~

I like your sign...and it is so true...A question, though. What, besides incredible interest rates, do you think it the remedy for fence sitters?

Sheldon, your points are excellent. WHEN will we see conditions like this again for home buyers? Extremely low prices for homes, Extremely low prices for money to buy those homes!!!

Sheldon - you are so right.For a combination of reasosn now IS a great time for many. THere are plenty of folks, though, that ARE concerned about jobs and overall security. I get that - it is a concern since we still have significant issues in the unemployment arena.

Jeff

Mary - Yep - at least they should sit down and just go over the numbers and options! Cheers ! Hope you are well :o)

Hi Shirley ! How are you ! Thanks for the reblog :o)

Sara - Wow ! 18% ! I thought that was just one of those 'stories' we heard about from back in the day ! Cheers !

Nathan - Buying over renting is HUGE right now, and will set up some smart people on the right track for a long time to come. Cheers mate !

Ed ! Indeed ! Sad for many sellers, but great for many buyers !

Dorie ! Amen ! But some will miss it and regret it ! ... hopefully many hop off the fence soon :o)

JP ! Ha ! Great minds my friend ! Heading over to yours now...

janeAnne - Well the low house prices should be enough along eith those rights in my opinion ! Plus many of them are renting so they could be in a better situation if they actually bought over renting !

Scott ! Thats how I see it my friend !

Jeff ! Yep - Lets hope the vacations are over, and the fence-sitters have enough incentive to take the plunge ! ... chances are they will be very grateful they did once house prices and mortgage rates go up ! Cheers :o)

Wonderful advise ....Sheldon...

HelpfulHannah

Sheldon, now that fence looks like it's ready to give someone a little help getting off - pretty rickety!

Hannah ! Thanks !

Ha ha ! Whatever gets them off the fence is a good thing Pat !!! lol

Sheldon well said. It's also a good time for those sitting on that fence to get into the investing side of RE too! We're seeing a lot of that here in the Triangle...

Pamela - Yes very good point ! investors can get terrific bargains if they are ready and able !

There are some absolute STEALS on the market right now, and the interest rates only make it better. I just did a closing today & the interest rate was 4.25%---the buyers said it was the same rate on the house they just sold that was purchased 10 years ago!

Mara ! Nice ! I hope more people start to see that and start taking the opportunites in front of them :o) Cheers !

That's what I'm telling all my (one) buyer(s). Now is the time!

JUL

2010

OH SO TRUE!! Too amny still wondering "should I" when they should already be locked and buying.

Hi Sheldon! - It's insane how low the rates have gotten! Here in CT we have a home loan program for homebuyers who if qualified can get a mortgage at an even lower interest rates.

Jane ! - Hope you can Britify that buyer into Buying !

John ! Amazing right ! Lock Now !!

Donna ! I know that there are some state specific additional incentives too, so it's crazy how great the opportunities are now for many buyers !

Great motivational post, Sheldon. I was wondering what the crazy sound was and now I know it's all those people jumping off the fences!

Ha ! Let's hope thats what the sound was !

Cheers Sharon :o)

AUG

2010

I know this post was written a while ago but isn't it STILL a great time to get off the fence, Sheldon? For a number of reasons in this country, some situations will probably not change for a very long time - job security, financial independence, etc. But for some, there is never as good a time to buy as the present!

So get off that fence, right?

~Emcee

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Sheldon Neal ~ That British Agent ~ Bergen County NJ

Maywood, NJ

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