First Time Home Buyers- It is your Time

Real Estate Agent with Century 21

The low interest rates, first time homebuyer programs, low down payments despite the current mortgage market events  and hundreds of reasonably priced properties on the market gives you the  opportunity to make your home ownership dreams come true.

We all want the best deal, but don't hold back from buying a home hoping to purchase at the lowest. You will not know the bottom of the market until it begins rising again. What happens if the interest rates start increasing again, while you wait for it to hit bottom?

For most buyers, the monthly payment is an important gauge of affordability. Let me show you what can happen while you wait for the market to "bottom out."

Assume that for property worth $ 300,000 you get a 5% interest now. You decide to wait, the prices declines another 5% before appreciating again, and in the mean time the interest rate goes up from 5% to 6%. The property will be worth $285000 with a 6% interest rate. That will increase your monthly payment almost a $ 98.

The added advantage to first time home buyers is the $7500 tax credit. If you close on a home before July 1st 2009 you may be eligible for a credit of up to $7500 off your tax bill.

It's time to make your move towards your #1 investment. Avoid looking back saying "that was the best time to buy."

 Call me today and I will be happy to help you find your new home.

Contact Gail Caldera, Licensed Realtors® in Massachusetts and Rhode Island at 508-212-2509 to help find a home in Massachusetts (North Attleboro, Attleboro, Foxboro, Wrentham, Mansfield, Seekonk, Rehoboth) and Rhode Island (Barrington, Providence, East Greenwich). I accept referrals.

Call me today at (508) 212 2509. Contact me by email if you prefer by clicking on email me on the right side of this page under my profile.


Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. My Blog does not guarantee or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on North Attleboro Luxury Home Blog represent the opinions and ideas of the author. This is not intended as a soliciting of any listings.


Copyright © 2008 By Gail Caldera, All Rights Reserved.*Massachusetts Real Estate Market*


Comments (9)

Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

We are beginning to see more buyers in the midwest...the first timers also need to realize that they really can't afford a "cheap foreclosure" get what you pay for and most cannot pay for the back taxes and fix up required....go for the gold...the folks that DID fix...and begin your equity in real estate is our advice,..happy 09 !

Jan 09, 2009 12:42 PM
Julie Chapman
DR Horton - Ormond Beach, FL
New Homes Sales Ormond, New Smyrna, Daytona Be


Amen.  It is amazing to me the deals that buyers are getting between the reduced prices and reduced interest rates. 

Jan 09, 2009 12:51 PM
Kathy Toth
Ann Arbor Market Center Keller Williams - Ann Arbor, MI
Ann Arbor Real Estate Experts - Kathy Toth Team

Gary Keller talked in his book "Shift" about the changing market.  He said that the market is like a roller coaster.  By the time we realize that we're heading back up again, the bottom was 3-6 months ago!  So don't wait because you just never know!


Jan 09, 2009 01:25 PM
Gaye Granice
Robert Defalco Realty - Staten Island, NY
Associate Broker


       You are so right. Now is a great time to buy.  It is very rare that mortgage rates and prices are low at the same time.  Here in New  York I have been very busy- December was busier than usual and now I have a lot of buyers looking for homes. I guess some realize that this is a good time.

Jan 09, 2009 01:31 PM
Jim Albano
Prudential Damiano Realty - Little Falls, NJ
Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Great advice here Gail for all those fence sitters. They may just sit themselves out of a great opportunity if they don't act soon. -Jim

Jan 09, 2009 02:00 PM
Larry Story ALC
Total Care Realty - Greensboro, NC
Beneath it all is the Land, Covering all of NC

Gail yes it is a buyers time right now.  Hopefully something I heard the other night on the news will not come true too soon.  Dare I say it;  interest rates going up.

Jan 09, 2009 02:03 PM
Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Gail- buyers need to buy now, the interest rates will go up. No doubt about that. You are just the right buyers agent to help first time homebuyers.

Jan 09, 2009 02:32 PM
Jean Powers
Kane & Associates call 510.908.9002 - Alameda, CA
CRS,e-PRO,HAFA,SFR Broker, Northern California

You are on the money!  This is the time for buyers to purchase if they have a decent down payment and good credit. FHA is still a minimal down payment

Jan 09, 2009 02:35 PM
Tony Grego, 317-663-4173 #1 Trade Association for Alternative Inv
REISA - 317-663-4173 - Indianapolis, IN

First time, next time, last time. If you can buy, buy.

Rates and prices are great everywhere




Jan 09, 2009 02:40 PM