Tuesday, March 17, 2009

What are you waiting for? Here are 5 GREAT reasons to buy a home NOW!

What are you waiting for? The real estate market has never been better to buy a new home. If you are a first time buyer and no property to sell, you are in a great position to jump off the fence and make that purchase. Here are 5 reasons to do it...

1)Affordability is better then ever! Homes are sitting on the market longer, prices are dropping. Put the offer in, ask the seller to pay, or at least assist with your closing costs. Dont be afraid of a counter offer, you can say yes, no or counter again.

2)You have an incredible inventory to choose from. In many places, it is taking months to sell a home, creating tons of inventory. This inventory includes new construction that builders are stuck with(ask for incentives) to foreclosures. A large inventory definately keeps the buyer in the driver seat and is driving prices down. Sellers are starting to realize the market isnt what it was a year or two ago and are starting to get the picture. Sellers are getting desperate. With homes on the market longer, sellers are finally realizing what is going on. TAKE ADVANTAGE OF IT!!

3)Builders are offering big discounts!! Banks want their money from builders also. Home builders are getting more aggressive with their pricing as well. FREE upgrades packages. Finished basements, lighting packages, kitchen upgrades!! GO for it!!

4)Mortgage rates are still very low. It is not just the price tag on the home that effects what you can afford, but the interest rates as well. A few months ago, rates on the 30 year fixed hit incredible low rates. rates that haven't been seen in years, and rates are still close to that level. The first week in February, the avargae rate for a 30 year fixed was 5.25%. More help may be on the way. A short time ago, President Obama said that his new economic plan would help lower the cost of mortgages for home buyers. More details have not been given. Low rates dont mean the mortgage companies are handing out money, you still need good credit, a substantial down payment, and the willingness to document your income to qualify for those great rates, if you qualify at all.

5) You can get a federal tax credit! There is currently a tax credit up to 8000 bucks! to home owners that haven't owned a home in at least 3 years. That money doesnt have to be paid back if the home is purchased between Jan 1 and Nov. 30th of this year, if that home is not re-sold for atleast 3 years! That money will certainly come in handy. The avarage first time homebuyer shells out about 6 thousand in the first 6 months of of owning a home.

Here you go, 5 great reasons to buy that home. If you are in Chester County, or Delaware County you have the reasons, you have my name and number. Give me a call, let me walk you thru the process. Let me help you get into that first home!
My name is Rick Sapovits, my web site is www.ricksapovits.com. I can be reached at Keller WIlliams Real Estate, 610-363-4300 x 2452. I look forward to hearing from you.

No comments: