Now is the Time to Buy!!!

There is a lot of negativity in the media about the economy. As a real estate professional, I would like to clarify a couple of misconceptions about the housing market.

Right now is a PHENOMENAL time to buy a home, especially if you are a first-time home buyer.

Mortgage rates are hovering at record lows, housing prices have declined, and there is a surplus of inventory. So basically you can find your dream house, get it at a great price, and be locked into a very low interest rate for 30 years! What more could you ask for?

To stimulate the housing economy even further, the Obama Administration has just put into effect an $8000 tax credit for First-Time Home Buyers. This credit is available to anyone who buys a home between now and December 1, 2009 and has not had principle interest in a home over the past three years. Unlike the previous version of this credit, this does not need to be repaid to the government! Please feel free to contact me with any questions."

Now another misconception is the ability to obtain a mortgage. The government backs an outstanding program called FHA, also know as the Federal Housing Administration. FHA mortgages were uncommon in the past, but now make up about 50% of the loans originated. Not only do these loans give consumers very competitive interest rates, but allow a buyer to purchase a home with only 3.5% down. As long as you have two steady years of work history that can be verified by paystubs and W-2s (or 1099s etc.), have decent credit history and have 3.5% of the purchase price to put down, you very well may be able to buy a home.

Not a first-time homebuyer? I'd be happy to sell your home and assist you in finding a new one that meets your needs. I can also help with your investment & commercial endeavors.

Please contact me if you are interested in buying or selling a home, getting pre-qualified for a mortgage or if you have any questions about the home buying process.