A couple of days ago I read an article from the msnmoney.com report. It was titled Buyers: Should you wait for the market bottom? By Melinda Fulmer. I thought it was interesting to see a report from a major news source that was actually positive news on the market. In the body of the article the writer gave 5 reasons to buy right now. The reasons are:
1. Prices in the neighborhood you are interested in are relatively stable. Either they are holding their own or increasing, or the pace of decline is slowing significantly. If you have to move and don't like apartments, the small penalty you pay for missing the bottom may not mean much.
2. You plan to stay in the home for more than five years. If you can stick it out that long before selling, economists say you'll probably ride out any downturn and come out ahead on price.
3. Your rent rivals a mortgage payment. If you can afford to buy, it can give you one bonus that renting can't: the mortgage-interest deduction on your taxes. If you rent, this next tax season look at what you are paying in taxes and if you find yourself paying a huge amount call me and I will show you how owning a home can save you thousands in taxes.
4. You've found the right house in the right area for you. The schools are great. You love the area and know it would be hard to find another house like the one you have your eye on. In a better market, you would most likely have much more competition for that home.
5. You've built equity in your house and are moving to a place where homes are cheaper. In your new market, your money will go a lot further.
With each of the buyers that I am working with each one of them fits into at least 2 of these reasons. Most people who have been waiting have figured out that with the taxes they will be saving and the rising cost of rents then it is actually cheaper to purchase a home then to continue to rent. I have been pleasantly surprise these last couple of weeks because more buyers and investors have been calling looking to get the buying process started. Most of these individuals are ready to buy and are willing to take a small hit if their home equity goes down.
If you have any questions regarding the home buying process check out my Free Reports page, it is full of helpful tips to walk you through the whole process.
Sincerely Kevin Williamson local REALTOR http://www.williamsonteam.net/
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