"Where Fillmore County News Comes First"
Friday, December 9th, 2016
Volume ∞ Issue ∞
- 3:54:20, Dec 8th 2016 - Thomas E. H. - 1. I support the facts. I don't support a party for party's sake. I su ... [Read More]
- 3:01:14, Dec 8th 2016 - Jen - He will be missed and I am grateful that we had him for eight years. And I'm ho ... [Read More]
- 1:19:20, Dec 8th 2016 - Hawkeye63 - @ Thomas, someone who tells me he is not affiliated with the Democrat Part ... [Read More]
- 10:48:13, Dec 8th 2016 - doc - Go trump: If you actually worked you would realize that medicare is deducted fr ... [Read More]
- 9:51:57, Dec 8th 2016 - truthsayer - Yes tweakers are low, what's worse? FC LAW "ENFORCEMENT" who are complici ... [Read More]
- 8:54:16, Dec 8th 2016 - AMEN - Amen to that ... [Read More]
- 8:53:38, Dec 8th 2016 - Go Trump - To Doc, I use oil, so take my money for that. It is better than getting ... [Read More]
- 8:43:47, Dec 8th 2016 - doc - As I have said before, the most vocal are also the most ignorant. I'll bet you h ... [Read More]
- 8:39:51, Dec 8th 2016 - two dogs - I just threw up my breakfast reading this. Yvonne, seriously? You need hel ... [Read More]
- 6:10:29, Dec 8th 2016 - Hawkeye63 - On behalf of all the hard working honest citizens of America, I offer the ... [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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