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Calling All Fence Sitters! Five Good Reasons to Buy Now...

Southern Oregon is such a great place to live! Time to put down some roots and stay a while? Well, here are five reasons you may want to consider buying now:

* Interest rates are still at historic lows, under 6% with no points for a conforming loan fixed for 30 year fixed for qualified buyers putting 5% or more down (see Krista Bolf's article on what effect a 1/2% increase in rate can have)

* Down payment assistance programs like the State of Oregon's Purchase Assistance Loan are still available, but the amount of funds being allocated to some of these programs is lower in 2008, so they may run out of funds faster

* Underwriting guidelines for programs and mortgage insurance are tightening, making qualifying for a loan more difficult

* Rents are going up in some areas with more tenants competing for rentals

* Inventory Levels in Southern Oregon are still hovering around the 2,000 mark, but there are a large number of homes available for under $200,000, which we haven't seen for a long while. Contact Krista Bolf for current listing information.

What are you waiting for?

See you at the closing table!

Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com

Karen Cooper - OR|CA Mortgage Consultant - www.Quality4Loans.com
Providing high Quality, Professional, Ethical service to Oregon and California home buyers and owners since 1983. Whether you are taking out your first home loan or your fiftieth, for your home, your second home or for investment, put my knowledge and expertise to work for you.

Posted by Karen Cooper-Mtg Banker|Broker Ashland|Medford on 04/24/2008 12:50 AM

Comments (7)

southern oregon, first time home buyer, down payment assistance

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7 Comments on Calling All Fence Sitters! Five Good Reasons to Buy Now...

APR

2008

You are right. These all apply to us in Arizona as well. Buyers are slowly coming back to the table however, which is great. And they are getting good deals.

Bob & Carolin - Good to hear things are picking up in Arizona, too. I'm working with a couple of different frustrated buyers, frustrated because their low offers are being knocked out by higher offers on properties that have been on the market for only a few days. I think we may see some shrinking inventory here soon! Thanks for commenting.

The train is in the station and it may soon be leaving!

Richard - I told a buyer recently, I wouldn't hesitate to get my checkbook out for the right deal right now. Our year over year number of homes on the market has shrunk (again). Now,we just need the same thing to happen for our California neighbors... Thanks for commenting.

MAY

2008

Very positive article!

Very good post. Should help new home builders as well

Sandra- We have plenty of less than positive news out there. I think more focus should be on the many pluses.

David - Thank you. New home inventory could certainly use a reduction, and these programs work for new construction, too.

Thank you both for commenting.

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