"Where Fillmore County News Comes First"
Tuesday, August 4th, 2015
Volume ∞ Issue ∞
- 11:18:20, Aug 4th 2015 - A Parent - What about the 4 kids that have fallen on the icy road already on the way ... [Read More]
- 5:27:13, Aug 4th 2015 - - Yup. Whats good for the goose is good for the gander. and why pick Preston, why not ... [Read More]
- 7:36:35, Aug 3rd 2015 - Aspy - Talk about a council full of dumba**es! ... [Read More]
- 1:25:55, Aug 3rd 2015 - kim wentworth - couple of thoughts briefly-1) the point of where someone originates fr ... [Read More]
- 9:43:29, Aug 1st 2015 - concerned - Wow...common sense did not prevail here. Please ask the City of Peterson ... [Read More]
- 8:31:54, Aug 1st 2015 - Remark1976 - The summer food program isn't new and Fillmore Central has been serving t ... [Read More]
- 9:47:41, Aug 1st 2015 - - That's a great idea. I will do that ... [Read More]
- 5:20:37, Aug 1st 2015 - Bob Burkholder - Guns are not the problem. It is the lack of moral fiber in our societ ... [Read More]
- 6:08:40, Jul 31st 2015 - what? - Gary livingood....lol...U need to check the guy he lives with. Drugs! ... [Read More]
- 6:05:47, Jul 31st 2015 - Haha - Get the girl bully off the FC teams. ... [Read More]
Fri, Jun 24th, 2011
Posted in Ask the Expert
Posted in Ask the Expert
Many opportunities will come from this market for the buyers that step in and take advantage. You have to live somewhere and in this market owning can actually be the same or cheaper than renting.
Here are six good reasons to make your move now:
1) You can get a great deal - Will prices fall further? Sure they could. It's difficult to predict the bottom. IF you think prices will drop another 5%, simply make your offer 5% less today. Sellers want to know what buyers are thinking. Lower home prices give buyers the opportunity to get more for their money.
2) Historically Low Interest rates - lowest on record since 1971. If inflation picks up, you won't see these mortgage rates again in your lifetime! If they drop, simply refinance to the lower rate. Low rates give buyers more purchase power.
For example: $100,000 at 4.83% / 30 yrs. is approx. $526 PI payment monthly. $100,000 at 6.5% / 30 yrs. is approx. $632 PI monthly.
In order to keep the same house payment of $526 monthly when interest is 6.5% the buyer would have to drop his purchase price to $83,500 more than likely getting less home for the money.
3) Income Tax Deduction -Mortgage Interest & your property real estate tax is deductible.
4) Inflation Protection - A fixed rate loan locks your payment amount for the life of the loan, offering protection from inflating interest rates and out of control payments.
6) Equity /Savings - Real estate is the most important investment most of us will make in our lifetime. IF you are not selling in this market than you will not loose anything, stay put, make your payments and ride out the storm; wait for the market to recover. Nothing is lost unless you bail. If you are purchasing now, your gain will be the low pricing, the low interest rates and time is on your side.
Nothing ventured, Nothing Gained, The only thing lost is opportunity.
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