Now is a good time to buy!

By
Real Estate Agent with Aubrey and Associates Realty

Occasionaly our box at the office gets something that is very useful.  Yesterday was such a day, we had from one of the local Mortgage Brokers offices.  It was a CD and a Brochure from Steve Harney   the Realtor and Trainer from New York.  While I have been a little too busy to get through the CD, the brochure has some really interesting points to help get buyers off the fence in this market.

He noted that nationally home prices our down 10.9% over the past few month.  What was interesting is the fact that in the past 3-5 years homes have gone up much more than that.  He used Miami as an example, before it dropped 15% it had peaked at an 83% increase in prices.  That is still a great return on investment if the investment had been held.

                                                                

He points out that we need to know what our peak percentage was over the rate that homes have dropped in your market.  He also points out that the actual cost of a home is the price plus the interest rate of the mortgage.  So even if homes in your area were to continue to decline up to another 8% in the next six months, but interest rates go up just 1%, that home is more expensive six months from now than it is right now.

This was information that I thought was extremely helpful to us in our local market,  I hope that this may help someone out there.

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If you're looking to buy or sell real estate in South Davis County, Utah; please give us a call.  We would love to earn your business!

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Rainer
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Joyce Bradley
Century21 Select Group - Lake Harmony, PA

Yes it has confirmed what I've been trying to tel people - that you can still get a return on your real estate investment it may just not be a flip situation in the short run but the long run is still positive.

May 30, 2008 09:12 AM #1
Rainer
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Tom Davis
Harrington ERA,DE Homes For Sale, $$ Save $$ Buy Today ! - Dover, DE
FREE Delaware Homes Search!, $$ Save $$ - Find Homes! Delaware Realtor

Tony and Darcy their is favorable things about buying right now, good work!

Tom Davis

DE Realtor

May 30, 2008 09:17 AM #2
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Tony & Darcy Cannon

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