It's The Perfect Storm

Reblogger kathleen bonham
Real Estate Agent with FHAllen, Sonoma Country and Vintage

thanks for this blog....people are afraid because they are concerned about the future but low interest rates and low prices are a rare combination.

Original content by Jeff Craig

It's The Perfect Storm, but a good storm, no, a great storm.  Now is probably the best time to purchase a new home in many years.

Interest rates are at historic lows.  This week, thirty year conventional mortgages are hovering around 4.71%  That is phenomenal!  How many of you remember rates at 18%?

The government's tax credit has been extended to almost all buyers.  First time buyers still get the 8% tax credit and buyers that have been in their current home for at least five years get a 6.5% tax credit.  It's a gift from Uncle Sam, no potential home buyer should pass up!

Inventory of existing home and new construction is still high.  Whatever you are looking for, it's out there!

Prices of homes are down.  There are some amazing bargains to be found. 

So get on out. Call a Realtor.  Get into that dream home now while the perfect storm for home buyers is here!

     

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Rainer
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Christine Hynes
American Capital Corporation - Laguna Beach, CA
Orange County Senior Loan Consultant

Kathleen -  I think Jeff is right on the money.  If you are a home buyer, it doesn't get much better assuming you have a job that I hope you will keep in these times.

Dec 04, 2009 01:41 AM #1
Rainmaker
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kathleen bonham
FHAllen, Sonoma Country and Vintage - Santa Rosa, CA

HI Christine...Thanks for adding me as an associate...Have tried to figure this out...I have been in real estate for over 3o years...the learning curve on social media and other Internet usage has been a huge learning curve to say the least!

Dec 07, 2009 03:03 AM #2
Anonymous
Melinda Dudek

My brother-in-law who is an agent on the East Coast thinks we would be better off waiting until foreclosures pass through the market over the next two years. He also says that because we have saved such a large down payment we should wait until rates are higher. That way less people will be able to afford homes. Less competition and we will have the money to buy at lower prices.

Dec 09, 2009 05:18 PM #4
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Rainmaker
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kathleen bonham

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