"Where Fillmore County News Comes First"
Sunday, February 14th, 2016
Volume ∞ Issue ∞
- 7:13:48, Feb 13th 2016 - Billary - This paper is so liberal. Guess they are endorsing Hillary Clinton!!!!!! ... [Read More]
- 9:05:21, Feb 12th 2016 - VikeFan1 - Wentworth Your post contains disconnected ideas and makes little sense. ... [Read More]
- 1:21:44, Feb 12th 2016 - firstname.lastname@example.org - Well said. I cook on wkends too, leftovers during the week a ... [Read More]
- 1:07:17, Feb 12th 2016 - Kim Wenworth - @ sv85 and vikefan1- the countries I mentioned in my last post are all ... [Read More]
- 8:40:49, Feb 11th 2016 - VikeFan1 - @Wentworth "Universal health care not covered in the Constitution" ? ... [Read More]
- 1:11:48, Feb 11th 2016 - SV85 - @Wentworth If you will do an unbiased research on the positive features of th ... [Read More]
- 9:43:47, Feb 11th 2016 - Kim Wenworth - @ sv85- exactly what are the benefits of obamacare? the last time I ch ... [Read More]
- 2:39:33, Feb 9th 2016 - SV85 - Hawkeye Also your blind devotion to Fox News. Did it ever occur to you that ... [Read More]
- 2:26:35, Feb 9th 2016 - SV85 - @Hawkeye 63 And your blind loyalty to anything and anybody to the far right ... [Read More]
- 1:44:23, Feb 9th 2016 - Taylor - @Rushford Man...you have a problem with me? Bring to me personally instead of ... [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.
25 Center St. W, Harmony, MN 55939
Toll Free: 888-839-2142