Buy a house and get a $200 Home Depot Gift Card!*
The best time to buy real estate is now! That’s right, I said the best time to buy real estate is now! Fact is there are 3 types of home buyers and depending upon which type you are, now may be the best time to buy a home.
Mortgage interest rates – Current mortgage rates are at or below 4% which is a great deal. Chances are, with the pending demise of Fannie Mae and Freddie Mac, mortgage rates could begin to rise in 2012 and beyond and may not see the sub 5% rates again for a long time.
Home Values – In case you haven’t been following the real estate market lately, home values are seriously depressed everywhere in the US. Has the real estate market hit bottom you may ask. Nobody knows but it may stabilize this year and start to rise.
1. Modern -
This type of home buyer typically switches house every 5-7 years. Some modern home buyers do it because they switch job and need to move every 5-7 years. Other people do it because they have a “roll your equity into a bigger home” mentality and every time they have enough equity to make a down payment on the next biggest home they can afford, the do it.
There are areas all over the country where home values are starting to rise. If you’re a modern type home buyer and you live in one of these areas, now may be a good time for you to start looking at homes again.
2. Investor -
This type of home buyer can be both a long and short term thinker when it comes to buying real estate as investors buy real estate for two reasons; cash flow and appreciation of assets.
For many investors the time to buy a property is when they can rent it out at or below the average monthly rent payment in an area and in most cases, when they can cash flow as a rental.
For the investor type real estate buyer, especially those with cash, this may be the best time to buy real estate. At the very least depending on where you live and the current state of your local real estate market, it’s is definitely a good time to start looking. Let’s face it, foreclosures and short sales won’t be around forever.
3. Traditional -
This type of homeowner typically buys a home and lives there for a very long time. My parents have lived in the same home for over 35 years and so have many of their neighbors. This type of home owner typically plans on paying off their home before retirement so they can live mortgage and rent free in their retirement years.
Many traditional home buyers took advantage of the low mortgage rates of late to refinance into a super low 15 year mortgage so they could pay off their house even faster and maybe retire early.
For the traditional home buyer, I believe in many markets, now is the time to buy real estate because;
- Interest rates are still very low,
- House prices are way down and clearly near the bottom in many areas and finally,
- Since you will be holding onto your home for the next 15 plus years, you’ll do just fine when you eventually sell your home.
So there you have it!
Here's how to get your $200 Home Depot Gift Card:
Step 1: Like us on Facebook. Simply click on the 'Like' button near the top left of this page.
Step 2: Click Contact Me to leave me a message. Let me know what type of buyer you are. Mention this promotion.
Step 3: Find your dream home. When you close the transaction with me as your buyer's agent, you'll receive a $200 Home Depot Gift Card.