Stop Listening to National News... You Buy Locally not nationally...
So i read the Wall Street Journal article detailing the top 10 Reasons to Buy a House. And i have to say i agree and Disagree with certain parts of this article.
As you may hear everyday on the National News the Housing market takes another hit in Feburary. Well I am Hear to Testify to the opposite for Central Arkansas.
National News said the U.S. Housing market took the biggest hit in NAR (National Association of Realtor) Recorded history. Well that might be true for a lot of places but it is definately not true for Arkansas.
Arkansas Association of Realtors is showing a steady increase in home sales starting Jan. 1 2011. As YourExitRealtor i myself have been busy.... Closing 10 Transactions in the 1st Quarter of 2011. My only contributing factor to this is that i have tried to educate all the buyers and sellers that I meet and speak with. Here is what i tell them, and I tell everyone that will listen to me. That includes YOU!
Top 10 Reasons To Buy a House (as seen in wall street journal but altered a little).
1. You Will Get a GOOD DEAL.... I don't know if i can say that any more clearly... My past several houses that I have closed on, my clients on average gained $10000 in equity from day 1. What better reason to buy than instant return on investment.... Several have had over $15000 instant equity.. Keep Reading..
2. MORTGAGES ARE CHEAP.... So i have had a few buyers say well i am waiting for the interest rates to go down further.... My answer to them is Keep waiting i will go sell somebody else a house... Talk to anyone you know that bought a house in the 1980's I talked to my Father Scott Roussel owner of Exit Realty Arkansas and Oklahoma and all around good guy... He told me that when my mother and him purchased there first house the interest rate was close to 16% that is right i said SIXTEEN PERCENT. Now for all the people waiting... A 4.750% interest rate is AMAZING... Snatch it up... We will never again see these rates.
3. Another Great advantage to owning your own house is the Tax Breaks.... You get to right off your interest payments each and every year you own a home... I don't know about you but i like having a few extra deductions at the end of the year.
4. It is Your HOUSE! Big reason to buy a house i think... In a rental you can't change anything.. No Paint, No Flooring, anything... You buy a house and want to repaint... who will stop you? You want new flooring go for it... It is your house, do what you please with it.
5. Your Will Get a Better Home... What i mean by this statement is, If you pay $925 a month rent and get a 3 bedroom 2 bathroom home that has 1200 square feet.... You could have a 1400 sq. foot home for the same price a month if not cheaper.
6. If offers some inflation protection.... most homeowners receive 1% to 4% increase in property value each year... so let your money grow... that is better than some IRAs and 401ks these days.
7. Its Risk Capital.... Houses are not like the stock market, and eventually house prices will start climbing once again... More Millionaires are made rich by owning real estate.
8. Forced Savings.. If you can rent a house for $850 a month instead of buying one for $925 a month, renting may make sense. But will you save that $75 for your future? Most people won't. Once again, you have to do the math, but the part of your mortgage payment that goes to principal repayment isn't a cost. You're just paying yourself by building equity. As a forced monthly saving, it's a good discipline.
9. There are Good houses to choose from... Spring Market is here... More homes coming on the market... Avg Days on market for some price ranges is less than 30 days... Lots of current home owners want to take advantage of the low interest rates and bump up a level, so therefore their nice house get put up for sale for a new first time home buyer to take advantage of the same interest rates.
10. Last but not Lease.... The Real Estate Market will Bounce Back.... Eventually the real estate market will start booming again and housing prices will bounce back and people will once again start selling houses and making money... but if you don't take advantage of the good deals now, you will be the one helping that homeowner make a nice little chunk of change when they decide to sell their home in the future....
So my question for you is, Do you want to make the money in the future? or would you rather be the one spending it?
Thank you so much...
Check out my website www.freeconwaysearch.com to look for a great deal in Central Arkansas.