"Where Fillmore County News Comes First"
Saturday, April 25th, 2015
Volume ∞ Issue ∞
- 8:18:02, Apr 25th 2015 - doc - It sure is a never ending source of amusement for me to read the right wingers' ... [Read More]
- 12:28:34, Apr 24th 2015 - Kim Wentworth - to science dude and rest of you liberal tatters: www.forbes.com/... ... [Read More]
- 12:50:38, Apr 21st 2015 - email@example.com - Thanks for the awesome tribute to the many firemen involved and ... [Read More]
- 8:36:39, Apr 21st 2015 - cheryl erickson mahaffay - Henrytown Lutheran Church has shaped me ll my life. I will ... [Read More]
- 2:39:36, Apr 20th 2015 - LOLZ - I do agree that "Just Say No" was about the lamest thing ever spoken by Frank ... [Read More]
- 12:12:47, Apr 20th 2015 - Sheriff Tom Kaase - Very well done! ... [Read More]
- 2:27:12, Apr 17th 2015 - science guy - To Kim Wentworth: Here's an idea Mr. Smart Alec. Take each of the sc ... [Read More]
- 5:57:59, Apr 17th 2015 - lol - And you all heard the mayor of this town didn't file to run again. He said he f ... [Read More]
- 5:47:24, Apr 17th 2015 - sosad - Well said regrets! Agree with you. If you didn't grow up here they treat u as ... [Read More]
- 7:53:38, Apr 15th 2015 - Listen up puppyboy - Whoever came up with that, that's good! If republicans were as d ... [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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