"Where Fillmore County News Comes First"
Sunday, September 25th, 2016
Volume ∞ Issue ∞
- 10:33:12, Sep 23rd 2016 - Hum - Heard a rummer that the kids r saying," if we park in the school parking lot ... [Read More]
- 2:32:54, Sep 20th 2016 - Kim Wentworth - at the group here- God gave us a brain, intelligence, communication, ... [Read More]
- 11:05:14, Sep 20th 2016 - DRousse - It's not FLUSHABLE wipes that cause the problem; they are too weak. It is ... [Read More]
- 4:49:27, Sep 19th 2016 - Aaron Bishop - Thank you for your comment and feedback, On-Point. ... [Read More]
- 4:24:53, Sep 18th 2016 - Disappointed - You only post certain people's posts! ... [Read More]
- 11:38:18, Sep 16th 2016 - millerml - These days when you go to a reunion nobody cares about what you look, the ... [Read More]
- 7:51:04, Sep 15th 2016 - firstname.lastname@example.org - Congratulations Roy! Can't be said that you don't stick t ... [Read More]
- 5:40:26, Sep 15th 2016 - Livin' the dream - Oh no, mary-wonnie! It's the assassin of yout'. ... [Read More]
- 10:26:43, Sep 14th 2016 - On-Point - Precisely how I feel. Differing lifestyles, views, religions, etc. are wh ... [Read More]
- 10:13:20, Sep 14th 2016 - wrong - There is so much wrong with this letter, I don't even know where to begin. ... [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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