Todd, why should I buy now versus waiting a year? Because NOW is the time to buy for may many reason and here are just a few of those reasons! I want to walk you through the reasons why is now the time to buy and hopefully you will see the same thing my team is seeing as well as investors are seeing right now.
Prices in the Portland area seemed have leveled out and actually took an up swing in December. Now it wasn’t much of an upswing, but January is seeing the same minor up swing as December did and that equals about $50 a month more in payments versus had you bought the same house in November. (Now, would you want to pay even more come May if the prices continueto rise?)
Interest rates are at historic low rates! These rates really can’t go down much lower and when they rise, they could risedramatically. One half percent increase in interest on a $200,000 home is equal to a $50 a month increase in payment. Now, if they even go back up to what they were just a year ago, you will be paying an additional $150 a month for waiting! (Is it worth the risk?)
There are many homes that are move-in ready right now! Many home owners are being forced to move for career reasons and they are doing all the necessary repairs to get the home sold! Now there are bank ownedhomes that are AS-IS, but the great news is those are discounted even more to reflect that, meaning you get one heck of a deal!
There are great programs to buy fixer properties, like theFHA 203K which I’m adesignated FHA 203K specialist. This loan can let you buya fixer property and even borrow the money to do the fixes. What doesthis dofor you? It gives you a chance to buy a home that many won’t even consider meaning less demand, which means lower prices. Then once you do thefixes, youget instant equity!
So, as you can see, there aremany reasons to buy today! Don’t wait, contact us, The Friendly Home Team at Todd@IFoundYourNewHome.com or call503-524-9494 and we will be happy to show you even more reasons now is the time to buy in the Portland area.
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