If you think NOW is a GREAT Time to Buy Real Estate, you are right! If you
think NOW is a HORRIBLE Time to Buy Real Estate, you are RIGHT too!
I cannot convince you one way or the other. You just have to make the best
decision for yourself.
Here are ALL the
RIGHT Conditions:
- Interest rates have been at an all time low.
I've seen interest rates as attractive as 4.75% for a 30-year note and 4.25%
for a 15-year note on an A paper loan. Off and on, interest rates fluctuate
up and down, but overall, we have known to see some of the historical lows.
Back in 2004 when I thought 5.25% for my 30-year mortgage refinance from its
original 8% in the year 2000, I'd never see rates lower than that.
I guess I'd never say Never again.
- Real estate prices have been shockingly low.
It seems that It seems that
real estate prices have been driven by business decisions of banks and
foreclosures. Some properties that were purchased for $400,000
back in 2006 in McKinney Texas - a neighboring city east of Frisco Texas
recently sold for $315,000 in September 2008. Relocation companies who
handle employee transfers end up holding real estate that accept the first
offer that comes along the way. Regular sellers are left with following the
crowd or end up not selling. Either circumstances, buyers benefit.
- Uncle Sam congratulates your buy with $8,000 tax credit for first
time home buyers.
In case you didn't know, you can now file for your $8,000 first time home
buyer tax credit for your home purchase from January 1 through November 30
2009. Read more about the
$8,000 First time home buyer tax credit
- Tax benefits of homeownership.
Even if you don't qualify for the $8,000 first time home buyer tax credit,
there are still tax benefits for the rest of us. Property taxes and mortgage
interests on your personal residence are used to offset your income. During
the year of purchase, some of your closing costs are tax-deductible items
also.
- Emotional pride of homeownership.
I remembered the first thing I did when I bought my first home was to paint
the walls - just because I can! I didn't have to ask the property manager if
it was okay. I planted a rose here and I dug a pond there. There's nothing
like a place call Home!
Here are ALL the WRONG Conditions:
- The job market is uncertain.
Not sure when it's your turn. In the mean time, you are preparing for the
storm.
- Real estate prices could drop even more.
There is no guarantee that your Frisco TX home that you would purchase today
for $200,000 could be worth $190,000 in the next year or so. There had been
evidence that homes purchased in 2004 for $245,000 are worth about $225,000
now. History may repeat itself.
- Bought the "wrong" house facing the "wrong" direction in the "wrong"
neighborhood.
What if you did just that since bad things almost always happen to you
anyways?
It depends on how you want to look at the current situation. Half empty or
Half full? It's entirely up to you. How ever you look at it, you are absolutely
RIGHT!
Here are ALL the RIGHT reasons:
- Homeownership is right when you are financially ready for it.
- Homeownership is right when you are emotionally ready for it.
- Home is a blessing. It shouldn't be your curse.
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I proudly serve and sell real estate in the greater Frisco TX Homes real
estate market.
If you are thinking about purchasing or selling your homes in Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson,
Dallas M-Streets, Dallas White Rock Lake area and other surrounding areas and
more importantly, want to work with a local area expert, contact me at your
earliest convenience.
It is a competitive market, hence it is important that you choose to work with the realtor who knows these communities like none other. I employ a
systematic market approach in selling your home - an intentionally unique proposal that most real estate agents do not use. If you care to be on your way to a successful closing, contact me immediately to see how different my proposition will be.
Contact:
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
Copyright © 2009 by Loreena Yeo (3:16 team REALTY). "If You
Think NOW is a GREAT time to buy real estate, You're Right. If You Think NOW is
a HORRIBLE time to buy real estate, You're Right TOO"
;)
;)
Well said!
Loreen!
There are people even real estate salesman that believe it can't be done they're righ! They can't do it! Real estate well selected is probably at the best price we'll ever see.
I've been watching you for a couple of years, you can do it!
Bill