Top Three Reasons Why Now Is The Time To Buy

Real Estate Agent with Cobblestone Realty

Strong indicators show that we are in the best market to purchase a home.  Whether you are interested in buying a home as an investment, as a first time home buyer, or to move up to a bigger home, it doesn’t matter.  It’s still a great time to buy for everyone.  There are many more reasons why, but to make things easy, I can boil it down to three main factors.

1.  Housing prices are declining. The old saying, “buy low, sell high” applies here.  There’s no need to wait it out for the lowest price.  In fact, waiting it out could do you more harm than good.  You will miss a lot of great deals out there waiting for the market to bottom out.  Because real estate is for long term investing, your purchase will pay off even if you didn’t buy your home at the lowest point in the market.

2.  Mortgage rates are at a low. CBS Financial Analyst, Ray Martin, appeared on the CBS Early Show saying, “Rates on a 30-year, fixed-rate mortgage are at a level we won’t see again in our lifetime.”  Be full warned, when housing purchases increase, rates are going increase as well and historically they have increased rapidly.

3.  $8,00 First-Time Home Buyer Tax Credit. Buy before December 31, 2009 and you’ll get an $8,000 tax credit if you’re a first-time buyer.  Know the definition of a first-time home buyer!  You can previously have been a home buyer and still qualify.  The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase.  For married taxpayers, the law test the home ownership history of both the home buyer and his/her spouse. See First-Time Home Buyer Tax Credit.

Not sure how to proceed?  I’d meet with your mortgage broker and find out what you can afford to buy.  Credit score needs some work?  No problem, a good mortgage broker can help you improve your credit score.  Then, call me.  I can help you find the best home at the best price.

Comments (3)

Steven Simmons and Marti Schmidt
John L Scott Ocean Shores - Ocean Shores, WA
Ocean Shores Real Estate

Susanne,  we just locked in a  15yr refi loan at 4.25% with 1 1/2 points!  Lowest rate lender has locked yet.  But lender warns "this won't last forever!"

Happy Selling.

Apr 20, 2009 01:50 PM
Edith Schreiber
Luxury Homes, Move Up Buyers, 1st Time Homebuyers, New Construction - Frisco, TX
Dallas Area Real Estate

Right you are - I worked in FL during the RE heyday, and now am also licensed here in TX.... surely a much more stable market here.

It's a great market to get the qualified first time homebuyer to jump in. I continue to stress the importance of not getting in over their heads, and not getting into a house where far too much of their income goes toward their mortgage buy responsibly & smart!

Edith Schreiber - Dallas, Texas


Apr 20, 2009 02:28 PM
Susanne Quirk
Cobblestone Realty - Jupiter, FL

Great news, Steven.

Good luck in Texas, Edith.

Happy selling to you both!

Apr 22, 2009 03:57 AM