As I was reflecting on my own buying journey I have to say I was envious for a moment of the position the current buyer is in. I go in and out of amazing deals on a daily basis and always think if only I were in the market to purchase! Currently we have 2 four families, a commercial store front w/ an apartment, a loft downtown, and our own personal home. With all that accumulation we never had any of the incentives offered now. My incentive at the time was to purchase and watch my money grow. Interest rates were at 7%, properties were at a premium, and the buyers & investors were coming out of the wood work! Today we have untouchable 30 year fixed interest rates, Amazing Deals that have instant equity, & for first time homebuyer's & seller's additional bonus of $6500-$8000 from the government just for the shear action of purchasing! I don't know about you but it is hard to save up $6500-$8000 and in this situation it is just another added bonus to buying! I think this time will be historically one of the best buying climates we will see. I believe most buyers, such as one of my current clients who purchased a home in Ballwin, MO for 130,000+ LESS than what the current owner purchased it for, are amazingly positioned well in their real-estate investment! I don't believe the government will be extending the tax credit that is up May 1st & I think we will see an increase in the interest rates so if I have any advice is now is the time!
republished from http://StLBuyerGuide.com
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