For the last few years people have been sitting on the fence waiting for home prices to hit rock bottom, or interest rates to go lower, or many other reasons; they have postponed buying a home. But the fact is now might be the perfect time to buy a home in Palm Coast. Home values have fallen by as much as 60% from the peak in 2006 all the numbers point to now is the time to buy a home in Palm Coast.
Low Interest rates in today's market.
Let's look at interest rates: Interest Rates over the years go up and down but the fact is now rates are lower today then they were 50 years a go, back then rates were around 6% but now you can get a 30 year fixed rate mortgage to buy a home in Palm Coast at around 4%. What this means to you is that a $100,000 mortgage would be $400.00 a month not including taxes or insurance. So today with FHA loans, USDA loans you can purchase a home in Palm Coast with little or no money down.
Home prices in today's market.
With the decrease in real estate values more people can afford to buy a home in Palm Coast then a few years ago. Think about it, homes that were selling for $200,000 are now selling for $100,000. So you are getting a home that once would have cost you $1000.00 per month or more (depending on the intrest rates) and now it's only costing you $400.00 per month.
So add all these factors together from low prices to low interest rates to a large selection of homes. This might be one of the best times in history to buy a home in Palm Coast. You can even buy a home in Palm Coast for less then you pay in rent! So get out there and start looking for a home before interest rates go up,bank owned and short sale homes get sold then you'll be kicking yourself for not buying a home in today's market.
For a FREE list of homes under $100,000 give me a call.
Carmine Pantuso, Realtor Keller Williams Realty phone: 1-888-788-8994