"Where Fillmore County News Comes First"
Wednesday, November 26th, 2014
Volume ∞ Issue ∞
- 8:03:53, Nov 24th 2014 - FountainFarmer - Doc, Why do people like you have to turn stories that don't have ... [Read More]
- 7:13:36, Nov 21st 2014 - FountainFarmer - doc, why do people like you think that every story needs a sense ... [Read More]
- 3:50:54, Nov 21st 2014 - Frank Wright - Does the author of this article realize it is not April 1st? ... [Read More]
- 3:03:32, Nov 21st 2014 - Roberto - That IS a stereotype on Libertarians from extreme right-wingers BTW. See ... [Read More]
- 5:10:46, Nov 17th 2014 - doc - I'm surprised conservatives aren't picketing there for their war on women. ... [Read More]
- 5:09:30, Nov 17th 2014 - doc - Is it illegal to push THEIR snow into the street though? ... [Read More]
- 4:16:40, Nov 15th 2014 - Gudrun - Ralph's burial at Arlington National Cemetery is scheduled for February 12, ... [Read More]
- 4:47:53, Nov 7th 2014 - KingslandGrad95 - Hey winters coming, why don't you take your concerns to that of the ... [Read More]
- 6:43:44, Nov 6th 2014 - winters coming - Tell Fillmore central in harmony that it is against the law to push t ... [Read More]
- 11:34:53, Nov 3rd 2014 - Tom Kaase - First of all, thank you again to Editor Jason Sethre for allowing people ... [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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