Five Fabulous Reasons to Buy Real Estate NOW!

FREEDOM TO CHOOSE
Now, unlike several years ago, the real estate market has large inventories in many areas. The length of time on the market to sell a home has increased which helps create the large inventory of homes. This includes everything, new construction, existing homes, and foreclosures. Buyers can peruse the market and have the freedom to select the home they really want. If you're interest is in a new home, know that many developers are getting more competitive with their pricing because they also have taken a hit by the ailing economy.


MORTGAGE RATES ARE AT ALL-TIME LOWS
Mortgage rates reached their 2008 apex in July, when the long-term average rate hovered just below 7%. They’ve since plummeted to below 5%, and there’s strong evidence supporting the idea that mortgage rates could dip to an even lower figure before the end of 2009. This makes financing your home significantly easier, as the money you spend over a thirty year period paying off your house gets lowered to something you may actually be able to afford.


HOME PRICES ARE DROPPING
Home foreclosures have a close relation with home prices, and the fact that so many people have been forced to foreclose make it easy to predict that the price of homes across the country have dropped a great deal. Prices have dropped by 30% in such metropolitan cities as Los Angeles, San Francisco and Miami and 40% in Las Vegas and Phoenix. Nationally, prices have fallen more than 21% in the past year. The national average has gone down each of the last 27 months.


DESPERATE TIMES CALL FOR DESPERATE TIMES FOR THE FHA
The Federal Housing Administration is offering 3.5%-down mortgages to qualified buyers despite the fact that the subprime loans these types of buyers would be borrowing from have already dried up. Last year, over 630,000 individuals bought homes in part because of the FHA’s low down mortgage rate, and there are many experts who believe that FHA loans have been the driving force behind real estate sales recently. Applying for an FHA loan is rather easy. Just follow these simple instructions.

FEWER BUYERS MEANS MORE NEGOTIATING POWER FOR YOU
Sellers, with the help of their real estate agents, still need to sell their homes .The fact that there exists less competition on the homes you’re considering could translate into better savings for you. Be smart when talking to agents, and remember that the struggling market has given you the upper hand in determining price.

Getting Started

Entering today's housing market can be pretty intimidating, but it certainly doesn't need to be scary.

My Fab Five explores all of the "Ins and Outs" of today's market to help you be better prepared to MOVE ON UP!!

Follow this priceless advice and you too will be ready to tackle the next chapter of your life! Here's to your future!