Yes, the market has started to stabilize and no. it's not likely we'll see prices take a nose dive again. It's true though, experts do suspect prices will decrease about another 5% before increasing. That's great news (about the increase I mean)! One of the biggest mistakes a buyer can make is trying to "time" the market. It's impossible. Instead, buy when the time is right for you. If you're in the market, then now is the best time for you. Here's why:
1. Rates are historically low. By taking advantage of the low rates, you'll save a load of money. Even if the value of you home decreases by 5% the benefit of having a low interest rate saves you more money over the long haul. Do the math yourself. You'll see I'm right.
2. You've heard the term before. Let me reiterate: This is a buyer's market. You have the purchasing power---you're in the drivers seat.
3. Homeownership can build wealth again. IF you buy at the right time (which is now). Take into consideration the generous tax deductions and in the long term, building equity.
4. Once again, you have the power. There's more than a six month supply of homes on the market. Numerous homes are available and a variety of price points.
5. Should you rent or buy? Definitely BUY. Studies show that owning a home builds long-term wealth. Plus, think of stability. You'll have the same payment for the next 30 years. There's no landlord to jack up prices every time you renew your lease.
Remember this: prices are down, interest rates are a steal, there are countless homes to choose from and you have potential to build future appreciation. That my dear friends is why you should BUY now.
If you're considering a purchase or have questions about homes in Fresno call me today at 559-790-1905.
Sincerely,
Shantay R. Davies
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