Buy Low Sell High
I know you are all familiar with this basic economic principle. The school districts in the Dallas/Ft Worth area still require an economics class before graduation. So even at the high school level, the premise that it is best to buy while the cost of goods is low and to sell or liquidate when the cost is high is studied.
So my point is....WHY are more of us not scooping up residential real estate? Interest Rates and housing prices are LOW and consumer confidence that residential real estate is still one of the best investments remains HIGH. Check out the Housing Affordability Index for even more reasons why now is the time to buy.
The NATIONAL ASSOCIATION OF REALTORS® affordability index measures whether or not a typical family could qualify for a mortgage loan on a typical home. Typical is defined as a median priced home (calculated by NAR) and median family income (determined by U.S. Bureau of the Census). A value of 100 means that the average median family income can afford a median priced home at prevailing mortgage interest rates.
In the South, the latest HAI shows the index to be 192.4 in March 2011. That is amazing news! Median income families are able to buy a lot more home than the median price home due to the incredibly low cost of home loans! Check out the index for your area and spread the news that NOW is the best time to buy.
I have just briefly explained what the Housing Affordability Index is, but for more information check out the NAR website. The more people that spread the word on why now is a great time to buy residential real estate, the faster the recovery can and will occur.
Happy Buying,
Missy Barry
972-499-6909
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