Why now is the time to buy a home.

Reblogger david lidz
Real Estate Agent

 

Just some additional fodder to urge buyers not to wait until Spring to get goin'!

Provided by a Realtor in the Auburn, California area - she provides links to her website for buyers interested in that area.

But if it's Maryland or Hagerstown Homes for sale (or Hagerstown Foreclosures) you're looking at - hope you will stop by

www.HomeAgainMaryland.com

or, if you need to move, but just aren't quite ready to buy, check out my rental website -

www.CharmCityRents.com

and please continue on down to my take on November 2009 home sales figures and how those numbers EXPLODED due to the Home Buyers Tax Credit.

~david

 

Original content by Noel Crider

"If you wait until you see the robin, spring is over." Warren Buffet

You may be sitting on the sidelines waiting for the right time to buy a home. Here are some reasons you shouldn't wait.

  1. Interest Rates. Today's record low rates are under 5% for most loan types, with jumbo loans and those for investment properties slightly higher. We haven't seen rates this low since Freddie Mac started tracking them in 1971. The federal government has been injecting $1.25 trillion into mortgage-backed securities to push down mortgage rates, but that money is set to run out next spring, and rates are expected to go up.
  2. Home Prices. With median home prices bouncing around all-time lows, there is no reason to wait. Think about this: "even a 10% decrease in home prices is immediately nullified by a mere 1 percent increase in interest rates on a 30-year loan," says Gary Keller. 
  3. Tax Credits. The government has extended the $8,000 first-time home buyer credit through April 30, 2010, and has added a $6,500 credit for repeat buyers. Read about it here.
  4. Tax Benefits.  When you purchase a home, in most cases, loan discount points and origination fees are tax deductible to the buyer, regardless of who pays them. In addition, you can deduct mortgage interest charged on a loan used to acquire or improve your principal residence in the year that it is paid. In the early years of a loan, most of your monthly payment is interest, so this can really add up. Finally, when you sell the home, as an individual you can earn up to $250,000 and pay no taxes on it, and as a couple, it's $500,000. Learn more.  
  5. Timing the Market. It's ironic that when prices were escalating in the seller's market a few years ago, buyers were clammoring to buy! No one can time the market, but statistics show that the worst is over, and we are bouncing around the bottom. The time is now to purchase a great value.

For more information about buying a home in today's market, contact me.

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Howdy there David

Wanted to be sure to pay your blog a visit seen that you were kind, to visit my little ole Blogging Homestead, and took the time to leave a cooment.

This here sure is a mighty fine post, you have Re-bloged, have a real fine day.

Baker Home Commercial Properties and Consulting AR Signature

Dec 13, 2009 01:47 AM #1
Rainer
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david lidz
Hagerstown, MD

Thanks Dale - Actually, I re-blogged that particular piece because I thought it complimented my own most recent blog pretty nicely.  I see now that folks only look at the top of your blog, so, I kind of switched things around.

Hope you'll take a look at my blog - my  analysis of the local sales number here in Hagerstown, Maryland, and see, y'know, that I am capable of some original thoughts of my own.

Thanks for stopping by!

~david

Dec 13, 2009 08:23 AM #2
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Noel Crider

Hey David,

Just thought I'd say hello! Thank for reblogging so nicely. You are a pro!

Take care,

Noel Crider

Auburn, CA

Dec 14, 2009 10:02 PM #3
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