If you are undecided whether to jump into the market now or wait, here are:
Three Reasons to buy now:
1. Interest rates are near all time lows.
2. Home prices have declined to levels not seen in years.
3. Qualified first-time home buyers are now eligible for up to an $8000 tax credit.
Lower Priced don't always Equate to Lower Payments
One final point to consider; Even if you believe that home prices will continue to decline; interest rates will not remain at these low levels.
If home prices were to decline 10% but interest rates for home loans increased by 1.00%, your monthly principal and interest payment would be higher.
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