"Where Fillmore County News Comes First"
Monday, May 25th, 2015
Volume ∞ Issue ∞
- 8:53:13, May 24th 2015 - Greg Rendahl - Jason, while you certainly make some good points in your opinion piece ... [Read More]
- 4:56:30, May 22nd 2015 - Shame on you - "A gun is an instrument of death. It is designed for one purpose, to k ... [Read More]
- 1:35:20, May 22nd 2015 - Michael - As a Navy veteran I salute Ron Scheevel for his service and sacrifice in Vi ... [Read More]
- 12:48:16, May 22nd 2015 - Kim Wentworth - a couple of points in response. the NRA has had a long history in gu ... [Read More]
- 11:57:35, May 22nd 2015 - RogerClegg - Re felon voting: Glad this bill failed. If you aren’t willing to fo ... [Read More]
- 12:15:00, May 20th 2015 - Shorty - Makes me feel pretty old when I read about people I knew. I would like to ... [Read More]
- 11:34:36, May 20th 2015 - SV80 - To Future: I can empathize with your regarding Hawkeye63. He exhibits all t ... [Read More]
- 12:49:06, May 19th 2015 - future - @Hawkeye63 My entire argument has been based on legal civil rights argument ... [Read More]
- 7:22:50, May 19th 2015 - hawkeye63 - There you have it fellow citizens, I sure hope America is paying attentio ... [Read More]
- 6:06:44, May 18th 2015 - Redhorse51 - Thank you for a great read. Like an addicting mini-series, I could not ... [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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