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Why it's a great time to buy a home

By
Real Estate Agent with Century 21 Westbank Summit

GREAT PRICES AND SELECTION

While Central Texas has experienced its share of the slowdown, it has been nothing like many other parts of the nation, however there are still many great buys on homes in the area.

SHOULD YOU SELL NOW?

Many people are waiting for the value of their home to go up to sell in order to buy a new home.  The concern with that kind of thinking is that while you are waiting for the value of your home to go up, so is the price of the one you want to buy.  According to the Federal Housing Finance Agency, Home appreciation in the Austin/ Round Rock area last year was 4.4%.  This could indicate that our prices will start to trend upwards.

There are many homes on the market right now and there is a great selection to choose from so if you have been considering a new home, now is the time.

LOW INTEREST

Interest rates are approaching an all time low.  Many homes right now are being financed at rates below 5 percent.  This means you can buy more home than you could a few years ago for the same payment.

TAX ADVANTAGES

The first time home buyers tax credit is another GREAT reason to jump on board right now.  If you have not owned a home in the past 3 years and purchase a home now, you will receive an $8000 tax credit.  This credit can be claimed on your 2008 return.  This is not a tax DEDUCTION, it is a tax CREDIT.  An example is, assume you are getting back $1000 on your tax return.  If you buy a home and claim the home buyers credit, you will receive a return of $9000.  This is not a loan and does not need to be repaid as long as you keep your home for three years.  In addition to this, unlike rent, you can deduct your mortgage interest.

With all the doom and gloom you see in the news lately, it is hard to get excited about spending money but buying a new home is not an expense, it is an investment and real estate is the greatest way to start building wealth for yourself.

Many of you are not in the market for a home now but if you have any friends, family or neighbors that are considering buying or selling a home, we would appreciate your referral and the opportunity to serve them. 

Why Freeman Century 21?

At Freeman Century 21 we offer a full range of services from start to finish.  If you are buying a home, we have several mortgage services we work with and are very educated about the Central Texas Market.  If you are looking for a new home, we have established great working relationships with many of the new home builders in the area.

If you are selling a home, part of our service includes a professional decorator to help prepare your home for showing, a professional photographer so that we can market your home professionally, and we believe we have one of the most prominent internet marketing programs available.

Call us and we will be glad to answer any questions you might have about buying or selling a home.

 

Mike & Starr Freeman
512-694-9769
www.freemancentury21.com

Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Mike & Starr,

It IS a great time to buy a home; I expect that interest rates will be as low this week as they have been at any time since 1945.  Blog on!

Mike in Tucson

Mar 22, 2009 10:17 PM