**I am creating a newsletter and this will be my first feature article.
By: Beth Sorenson
Temperatures may be falling as another Wisconsin winter arrives, but winter shouldn't be the only thing moving in.
Home buyers and/or sellers wishing to "trade up" are missing a great opportunity by hunkering down for the winter . In fact, today's market should not induce buyer hibernation, but instead inspire buyer rejuvenation.
There are several favorable market conditions for buyers:
- Home prices have moderated and are holding steady. If buyers wait for "the market to turn" they may be faced with price increases. Now is the best time to invest.
- Interest rates remain low. This means less interest, more return.
- Inventory is abundant. There are more houses to choose from making it easier for a buyer to find a house that meets their search criteria.
- Home prices are affordable, sometimes below replacement cost value.
- Many sellers are motivated and willing to negotiate reasonable offers.
- $7,500 tax credit for first-time home buyers. *BUT HURRY! This credit is only available until July of 2009. It's like getting an interest free, 15-year loan!
- Mortgage lender regulation means buyers can feel assured approval amounts will be affordable and budget friendly.
- A 5% down payment on a home yields a return nearly 5 times greaterthan the same amount invested in the stock market .
There are more incentives for first time buyers to purchase a home, and for current owners to trade up. The possibilities are endless.
Remember, just like each snowflake that falls from the sky, the needs of each buyer and seller are unique. Don't let media reports freeze your unique dream of home ownership.
For more information about buying a home, or investing in a new home call Beth Sorenson at Shorewest Realty today. Don't just dream. Thaw those icy reservations and make you home a reality.
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