I just received an email from a friend of mine who is the mortgage business. He stated that the interest rates are falling and will continue to fall due to banks that are filing for bankruptcy. He sees this as a great time to buy for buyers. Housing is low, interest rates are falling and the federal tax credit is available. It is a win win situation for everyone!
I recommend that if you are in the market to buy, contact a real estate professional that you trust, understands the market, and who will guide you through the process.
In the State of Nebraska there is Grant money available for buyers, and we have the USDA loans that are know for there low interest rates and are geared for buyers who will be buying in rural area's.
It will be fun to see who jumps on the band wagon and buy now.
If you are an investor, move fast, the good buys are out there. Check with your local realtor. They can provide you a list of homes that are in a short sale (pre-forclosure state), or are in a current foreclosure state.
Ask your realtor if they know of someone who maybe interested in a rent to own, or lease to option. This is helpful for those who do not have the best of credit, or those who may have just changed careers etc. This is a great opportunity to get ownership in real estate with little or no money down.
If you are not buying, do it. It could be the best thing you ever did!
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