HOMES ARE BEING SOLD AT BARGAIN PRICES
Over the last 5 years, the real estate crisis has led to a variety of distressed property on the market. What sold for much higher prices now sell for a discount in this troubled market. Foreclosures, default properties, bank-owned homes, and short sales make up this new category of housing that gives the incoming buyer the chance to earn instant equity. In other words, the bank’s losses transform into your gain. Banks are eager to liquidate property, so as a buyer, you have the bargaining chips in hand.
CHEAPER FINANCING – LOWEST INTEREST RATES IN 40 YEARS
Since Freddie Mac began tracking data (1971), rates have tumbled to a historically low point in the last year. As the economy rebounds, interest rates are forecasted to rise steadily over time. The financial markets dictated the pace and direction of interest rates, so timing is critical in locking in a rate and taking advantage of the market while it remains in the buyer’s favor. Lower interest rates mean you can afford to buy a bigger home that meets your budget goals, or, better yet, buy a smaller home and have a cheaper payment. By taking the savings of a lower interest rate, the possibilities are endless: increase your retirement savings, pay for home upgrades, or even save for your child’s education.
BETTER DAYS ARE AHEAD – THE CYCLE OF HOMEOWNERSHIP
Everybody needs a place to live. As employment conditions and consumer confidence improve, a greater number of potential buyers will return to the housing market. What does this mean? The more homes that are selling, the greater the demand for housing. Increased demand drives the price of housing in an upward direction. If you position yourself right by buying a home in this market, you open an amazing opportunity to profit while enjoying the unique experience of owning your own home.
We look forward to working with you. Please don’t hesitate to contact us if you have any questions. Remember, if you need help buying or selling a home, we can match you with one of my referral partners specifically suited to your needs.