"Where Fillmore County News Comes First"
Friday, December 19th, 2014
Volume ∞ Issue ∞
- 11:39:12, Dec 17th 2014 - SgtRock - I guess I hit a sore spot. The comments Jeff made in his article are his ... [Read More]
- 4:06:16, Dec 17th 2014 - @SGT Rock - "You can stop hyperventilating now Jeff, it appears you are auditioning f ... [Read More]
- 12:59:15, Dec 16th 2014 - SgtRock - You can stop hyperventilating now Jeff, it appears you are auditioning for ... [Read More]
- 6:53:39, Dec 15th 2014 - - Enough with the Liberal bashing!!!! ... [Read More]
- 12:43:11, Dec 9th 2014 - FountainFarmer - Wow! Yes, people are entitled to their opinion anytime they feel fre ... [Read More]
- 5:54:41, Dec 8th 2014 - WoW! - Fountainfarmer no serious Axe to grind and definitely not faceless gossip. Peop ... [Read More]
- 5:17:00, Dec 8th 2014 - Pastor Mark - Sounds like a great trip. Good for you Paul! Hope to see some of your pi ... [Read More]
- 1:58:52, Dec 8th 2014 - FountainFarmer - WoW! You're just commenting on an article that was posted back in Ju ... [Read More]
- 10:19:54, Dec 6th 2014 - WoW! - Sadly The Only Ones That Are Misinformed About Kaase are The Citizens of Fillm ... [Read More]
- 2:56:47, Dec 5th 2014 - annonymous - You should probably do some homework when printing articles like this. W ... [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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