I think it is a great time to buy a home!

By
Mortgage and Lending with Senior Loan Officer at US Bank Home Mortgage NMLS # 273204

 

I think it is a great time to buy a home!

As you can see by the graph below, homes are more affordable then they have been in years, maybe more then ten years in some areas! Home buyers have more to choose from and they can afford more. That is why I think it is a great time to buy a home!

 

Home Price Chart

 

 

 

 

 

 

 

 

 

 

 

 

 

And, as you can see by the graph below interest rates are still at historically low levels. Allowing home buyers to purchase the home they want and have lower payments. There are still great loan programs and lenders are still doing loans. That is why I think it is a great time to buy a home!

 

Mortgage Rate History

 If you are one of those who think maybe it would be better to wait until the  market hits bottom, you could be making a big mistake. There are many people in Washington and Congress who would like to make it madatory that to buy a home people should have 20% down! I will write more about that later. Also, what if interest rates start going up, I have seen interest rates go up 1% in a single DAY! How will that change your buying power? I will write more about that tomorrow.

I really  do think ii is a great time to buy a home!

 

 

Comments (3)

Laura S. Baker
First Weber Inc - Lake Mills, WI
Realtor (920) 728-4118, First Weber Inc

Ya got some nice graphs there Jon!  :)D  Hope you day is going well.

May 15, 2011 11:51 AM
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Yes Jon it is a great time to buy a home and I frankly have said this for the last 1-2 years.. Thanks for the blog

May 15, 2011 12:08 PM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Yes, we need to keep reminding folks, it is a GREAT time to buy a home!

May 16, 2011 05:24 AM