CONSIDER BUYING NOW
With interest rates between 4.75 and 5.25 percent and housing values dropping significantly in the last six months, you may want to consider buying now. Recent reports indicate that tumbling interest rates are setting off a surge of refinancing and pulling undecided homebuyers into the real estate market. Some lenders are quoting 30-year mortgage rates as low as 4.63 percent. The government’s programs seem to be working.
Recently, home prices have dropped significantly with many of those homes being bank owned or in foreclosure. Diligent searching and patience could lead you to a great deal on a home. Homes that were priced at $240,000 last fall are selling for $180,000 to $200,000. Some of those $750,000 homes from last summer are now selling for $500,000 or less. Investors are starting to see the writing on the wall. Where CD’s, money markets, and stocks are getting little or no returns, real estate is becoming a good investment. Single-family homes are getting sufficient rents to even cash flow.
Talk with your account to learn the advantages of investing in a home or investment property. Seek out a knowledgeable real estate agent to help you find the best bargains. You may find that buying now is a smart idea and a good place to invest your money.