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

 
This post has been included in Oregon Information Jackson County, OR Information
Post is included in group: 1st Time Buyers
Post is included in group: Everything Oregon
Post is included in group: Moving to Oregon
Post is included in group: Posts to Localism
Post is included in group: First Time Homebuyer

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

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.

04/24/2008 01:01 AM by Bob & Carolin Benjamin - E Phoenix Arizona Real Estate (The Benjamin Team - Keller Williams Integrity First Realty )

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.

04/24/2008 01:11 AM by Karen Cooper - Quality Home Loans, Inc.

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

04/24/2008 04:31 AM by Richard Dolbeare (Century 21 All Islands)

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.

04/24/2008 09:18 AM by Karen Cooper - Quality Home Loans, Inc.

Very positive article! 

05/06/2008 08:12 AM by Sandra Workman ABR, CNHS, QSC, RCC (Speckman Realty Inc., GMAC)

Very good post. Should help new home builders as well

05/06/2008 06:40 PM by Vancouver Real Estate (Search Engine Marketing)

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.

05/06/2008 09:11 PM by Karen Cooper - Quality Home Loans, Inc.

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Mortgage Company: Karen Cooper - Quality Home Loans, Inc.
Karen Cooper - Mortgage Consultant OR/CA
Ashland, OR
More about me…
Karen Cooper - Quality Home Loans, Inc.

Office Phone: (541) 608-6003
Cell Phone: (541) 601-4303
Email Me
25 years experience providing Quality Home Loans to Southern Oregon and California| Assisting First Time Home Buyers in need of Down Payment Assistance in Oregon| Specializing in Oregon Bond Loan| Oregon VA Loans| Serving all of Jackson County Oregon including Ashland- Talent- Phoenix- Medford-Jacksonville- Ruch- Central Point- White City- Eagle Point- Shady Cove- Gold Hill, as well as Josephine County including Grants Pass- Merlin- Wilderville and Northern California communities in Siskiyou County| Helping Southern Oregonians and Californians on the road to fulfilling the American Dream of Homeownership

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