"Where Fillmore County News Comes First"
Monday, October 24th, 2016
Volume ∞ Issue ∞
- 2:27:07, Oct 24th 2016 - Thomas E.H. - Has anyone running gone out to publicly say all your guns are going to ... [Read More]
- 2:23:57, Oct 24th 2016 - Kingsland parent - They should be discontinuing the football program. The Kingsland s ... [Read More]
- 2:19:33, Oct 24th 2016 - Thomas E.H. - Coincidentally enough, I don't find much difference between Thomas Treh ... [Read More]
- 4:40:26, Oct 21st 2016 - Thomas E. H. - @What? On the contrary, it does take commitment to undermine legisl ... [Read More]
- 6:58:41, Oct 21st 2016 - LOLZ - I know, let's worry about coal miners jobs. To hell with the rest of the world ... [Read More]
- 1:03:04, Oct 20th 2016 - Tuner - Davids working to lower health care prices is a joke... He is working in inte ... [Read More]
- 11:04:10, Oct 19th 2016 - - weird, he is concerned about the budget but two members of the council tried nume ... [Read More]
- 3:15:21, Oct 19th 2016 - Please not again! - I wish he would have said how he spent all of the First Responder ... [Read More]
- 3:09:30, Oct 19th 2016 - What? - I don't think anyone needs to be committed to undermine MNsure. It is a joke ... [Read More]
- 1:50:43, Oct 19th 2016 - Turner - A reminder: Jesus hung out with and accepted prostitutes and thieves. Discr ... [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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