"Where Fillmore County News Comes First"
Thursday, October 23rd, 2014
Volume ∞ Issue ∞
- 10:15:40, Oct 22nd 2014 - wow - Wow! How are we here voting on this again?! Rusfords motto after the flood was ... [Read More]
- 10:08:54, Oct 22nd 2014 - Also an RP Fan - Peterson too. Let's all combine as one city. We could learn a gr ... [Read More]
- 9:18:55, Oct 22nd 2014 - R-P fan - This referendum thing has divided the community. Let's change the subject. ... [Read More]
- 9:25:16, Oct 22nd 2014 - StopTheDeceptionJon - " IT HAS NEVER BEEN STATED THAT THIS AID WOULD BE APPLIED FOR A ... [Read More]
- 7:17:10, Oct 22nd 2014 - Mayo grad - But FC could not beat Mayo. Gooooo Mayo! ... [Read More]
- 11:07:16, Oct 21st 2014 - fairy tales can come true - In a December 14th, 2012 letter to the editor in the Fil ... [Read More]
- 11:06:26, Oct 21st 2014 - fairy tales can come true - In a December 14th, 2012 letter to the editor in the Fil ... [Read More]
- 9:51:26, Oct 21st 2014 - Anti-conspiracy - #5. RP schools has passed every audit with flying colors. #6. ... [Read More]
- 4:43:44, Oct 21st 2014 - omg - Maybe the several individuals that CAN afford and WANT the new school, should j ... [Read More]
- 2:54:11, Oct 21st 2014 - Vote NO - I don't understand the rationale behind spending $38M on a school for a dis ... [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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