Top 5 Reasons to Purchase a Home Now!
1) Low Mortgage Rates: When home buyers take advantage of the historically low interest rates, they can build equity immediately. The First Time Home Buyer tax credit may have ended, but that does not mean that you can’t enjoy further financial incentives due to lower interest rates.
2) Affordability is Better Than Ever: Have you recently talked to someone about the house that they bought in 2004? Odds are, they said "Do you know how LUCKY you are to be taking advantage of the current buyers market?" As local sale prices continue to creep up, it’s a sure sign that these fantastic prices on homes won’t last.
3) Buyer Competition May Increase: According to The Mortgage Bankers Association “Applications for new loans to purchase houses rose for the third straight week, this time by 2 %.” That statistic shows that more prospective home buyers are positioning themselves for a home purchase. What does this mean to you as a home buyer? More competing/multiple offers.
4) Inventory Continues to Decrease: The days of home buyers previewing up to 100 houses on the market are dwindling. While there are still a number of great homes available, buyers are having a harder time finding the right home. Don’t miss out on the current market, as the inventory continues to shrink.
5) Homeowner Tax Deductions: There are numerous tax deductions for home owners. Your biggest tax break is reflected within your house payment each month. For most home owners, the bulk of your payment goes to interest and all of that interest is tax deductible!
Charles E. Chapell
