"Where Fillmore County News Comes First"
Wednesday, July 29th, 2015
Volume ∞ Issue ∞
- 6:30:33, Jul 28th 2015 - REDHORSE51 - 999 OUT OF 1,00 TIMES I USUALLY DISAGREE OR FIND FAULT WITH YOUR COMMENT ... [Read More]
- 8:53:21, Jul 28th 2015 - CARON - I wish I would have known Jeanie. I've thought of you and Janet often over t ... [Read More]
- 12:01:31, Jul 27th 2015 - What - "Dear Mr. Wentworth, My knowledge also comes from hiking throughout the Unit ... [Read More]
- 11:25:05, Jul 27th 2015 - LOLZ - I think we're done here. ... [Read More]
- 9:58:11, Jul 26th 2015 - Paul - Dear Mr. Wentworth, My knowledge also comes from hiking throughout the United ... [Read More]
- 2:04:57, Jul 25th 2015 - chris - Just like they didn't plant cougars, bear, wolves, wild turkeys and who knows ... [Read More]
- 7:20:23, Jul 25th 2015 - LOLZ - Maybe we won't get any snow next winter. Might as well worry about it in July ... [Read More]
- 6:22:03, Jul 22nd 2015 - Let's see - And the big piles they make in middle of roads that u have to drive up an ... [Read More]
- 10:55:05, Jul 21st 2015 - BareMinimum - Maybe now side streets can get plowed! Sick of the terrible condition ... [Read More]
- 10:03:19, Jul 20th 2015 - Kim Wentworth - @Paul and the song writer- forgot your spellcheck / the glaciers and ... [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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