If you are thinking of buying a home in the next 6 months, what are you waiting for? Get off the fence and get moving! The time is now, if you wait another day because you are afraid, or waiting for the bottom, or just a procrastinator, you will miss the best buying opportunity in a generation!
Here are a few reasons to get moving now (no pun intended).
Sellers are highly motivated.
They have been through the ringers and are literally making deals to get rid of their homes. They see no light at the end of the tunnel, it looks bleak. Plus there is a glut of Short Sales and Bank Owned properties to be had. The best investing advice is; “when everyone in running, BUY, when everyone is coming, SELL”! Well, everyone is running… but not for long!
Stimulus money.
The government is serious about getting this economy moving again, for housing, there is the $8,000.00 tax credit for first time home buyers. Even if you are not a first time home buyer, this will start the “move up” market. Utah has a $6,000.00 grant for buying a new home in Utah, expected to be signed by the Governor soon. This will help about 1600 buyers and almost eliminate about 1800 new homes currently sitting vacant. This, in turn should bring life back into the construction industry. So if you are a first time home buyer and want a new home, you could qualify for $14, 000 to purchase a home!
Finally, Interest Rates.
At decade lows, hovering around 5%, and according to the Washington Post, could fall another 1/2 percent soon.
The Federal Reserve yesterday escalated its massive campaign to stabilize the economy, saying it would flood the financial system with an additional $1.2 trillion…
The decision by the Fed to buy government bonds and mortgage-related securities is designed to lower borrowing costs for home mortgages and other types of loans, thereby stimulating economic activity…
Earlier purchases pushed rates on a 30-year, fixed-rate mortgage down by about one percentage point, and analysts said that yesterday’s announcement could reduce mortgage rates by another half of a percentage point…
People will look back at this as the window of opportunity that comes along once in a lifetime, question is, did you take advantage of it? Or are you going to be the one that wished they had!
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