BUYERS it’s time to get off the FENCE…..
So I was at a meeting at one of my local banks on Friday, and brought up how low the interest rates are. My lender said that they were swamped with refinances but had very few new loan applications…. Which to me is crazy….
With Rates at an all time Historical Low…. (Click Here to Get my Lenders Contact info!)
15-Yr Conventional - 3.25%
30-Yr Conventional - 3.875%
15-Yr FHA - 3.25%
30-Yr FHA - 3.75%
30-Yr VA - 3.75%
30-Yr RD - 3.75%
From what I see every day being YourExitRealtor I would ask all First Time Home Buyers that are perched on the fence watching and waiting this, WHY WAIT?
Simple answer is, THEY ARE SCARED…. Which is not a bad thing, but I contribute that fact to a lack of education about the housing market.
Here are some Simple Facts:
This is a BUYERS MARKET, simply put if you are a buyer then you automatically have an upper hand in negotiations. If you have a well educated and seasoned REALTOR then you have an above average chance of getting into a home for LITTLE DOWN if any and possibly have instant equity in your newly purchased property.
Pro Vs. Cons of purchasing a home now..
· BUYERS MARKET
· CHEAPER TO BUY THAN RENT
· GREAT DEALS
· LOTS OF INVENTORY
· LOW OR NO DOWN PAYMENTS (IF you qualify for a first time home buyer assistance)
· TAX DEDUCTIONS
· NO RULES (it will be your house, paint it pink if you want to!)
· LIVE THE AMERICAN DREAM….. (Always purchase a home that is financially in your monthly budget.)
· YOUR HOME, YOUR RESPONSIBILITY (Yard and Home maintenance)
· Can not just up and move on a whim!
· You have to grow up and be responsible….
As you can see, in my opinion there are way more advantages than disadvantages to owning a home. Plus if you can get into a home with 0% down with a great interest rate, and it is cheaper to buy a home than rent one, what is the negative side of it? I am sure some people will say my opinion is biased and leans towards home ownership because I am a Realtor, but my job as a Realtor is to make sure my clients are well educated and protected when they choose to take that giant leap of being a home owner. Nothing is greater than that smile you receive when you hand the proud new home owner their Keys to Their NEW KINGDOM….. I am in this business to build and maintain friendships with my past, present, and future clients, if I was up to no good I would no longer be in this business. Here are what some of my first time home buyer clients have said about working with YourExitRealtor
Have a wonderful Day and I hope you found some of this information useful.