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Stop Renting - Busting a few myths about buying a home

Reblogger
Real Estate Broker/Owner with Hamm Homes

This is a great re-blog articles that everyone should have their people read if they are sitting on the fence.  It is to the point and points out the facts not what the newspaper and news is how bad everything is.

Original content by Joe Metzler NMLS 274132

No more excuses. Go buy a home!

The housing market has changed dramatically, and everyone should be taking advantage of some of the most affordable home prices, and lowest mortgage rates in history. You may be hearing a lot in the news today that in some markets it is cheaper to own than it is do rent. It's true!

Stop listening to the doom and gloom drum beat the media plays. Bad news sell newspapers, so that is the spin they like to portray.

Common myths and misconceptions may be holding you back but shouldn't.

  • My credit is not the best at this present moment: OK, then stop delaying and start on the path to improve your credit scores. The vast majority of people can turn bad credit to good credit in less than a year - If you do nothing, nothing will change. 
  • I do not have money for a down payment. Did you know you can buy a home worth $100,000 with just $3500 down payment?  There are many acceptable sources of down payment. Savings, 401k retirement plan, sale something, tax refund, or even a gift from a relative.
  • I do not feel comfortable with the economy:  WHO DOES?  But you have to live somewhere, so make that somewhere a place of your own!
  • I don't think I will qualify for a mortgage: It takes just a few minutes for a licensed mortgage Loan Officer to review your basic information. There are no obligations, and you are committing yourself to nothing by talking to a Minneapolis, St Paul, or Duluth MN area mortgage lender. It really isn't  as scary as some people think being a first time home buyer.

 

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Comments (7)

Sylvie Stuart
Realty One Group Mountain Desert 928-600-2765 - Flagstaff, AZ
Home Buying, Home Selling and Investment - Flagsta

It's so important to know what to say when we get these common reasons for not wanting to buy in this market. These are excellent and valid answers! Have a great 2012 and thank you for stopping by my blog!

Dec 19, 2011 01:41 AM
Keith Gilkey
Re/Max Chesapeake - Elkton, MD
410-920-7214, Re/Max Chesapeake

Will, This is a great re-blog...buyers should be out with the home prices in years and historic low interest rates. Have a nice day!

Dec 19, 2011 01:57 AM
Roy Kelley
Retired - Gaithersburg, MD

Be careful in the snow that is predicted for your area.

Happy Holidays!

Colonial Williamsburg Capitol IMG_1303

 

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Dec 19, 2011 02:00 AM
Wale Adewoyin
1st Crown Realty Corporation 503-512-6200 - Saint Helens, OR

Will with new changes everyday and the lending horizon changing, it would be foolish for anyone not to even ezamine their chances with a qualified loan officer. Rates are the loswet in history and prices are ay down. Its now or never.

Dec 19, 2011 02:05 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

This is a good post to reblog. Renters should call you for help in buying a house.

Dec 19, 2011 02:33 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Will, Buyers do need to take a second look at buying homes when they are given all these chances to buy now. Many credit issues can be fixed in 3 to 6 months. There are down payment assistance programs too.

Dec 19, 2011 02:39 AM
Peg Barcelo
Fluff My House! Home Staging Inc. 250.486.6369 - Summerland, BC
The FlufftasticStager from Summerland, BC

Will, we were so fortunate when we bought our house we could assume the mortgage and just pay $8000 down!

Dec 19, 2011 04:16 AM