I have been listing, on my Facebook Status the last week, blessings that I am thankful for. Reasons to be thankful are easy for every day life, but I kept wanting to write down, I am thankful for my job. Somehow, I have not been able to actually write that down for some reason. As everyone with ears, eyes, and pocketbooks knows: Real Estate ain't so good right now! Bad for sellers, worse for realtors. BUT!!!! Buyers, what in this world are you waiting for?
Never in our lifetime, that I can remember (which if you know me, you would realize I can't remember anything, as my husband points out daily), have interest rates been this low.
4% for 30 years are you kidding me?????? My first house interest rate was 16%!!!! On $100,000 mortgage that is approximately, $16000 interest annually for 16% versus $4000 annually for 4%!!! A difference of $12000!!!!! Over 30 years that is a savings of $360,000! Do you see that?
Houses are at an all time low price! I know that there are houses that are priced at half or more of what they sold for in 2003! I have a house that I bought in 1994 for $140,000. In 2002, it appraised for $270,000! Now I have it rented because I could never get what I owe on it! (I borrowed money against it for a wedding several years ago).
You will never have a better opportunity to own your own home for so little. You can have a grand house for a tiny price.
Sure your credit has to be decent, but not perfect. A 620 and above will probably get you in. Call your local banker and get prequalified ( they will tell you what price house you can buy for your income). It is free.
You will only need at the least 3.5% of the sales price as a down payment. We can get the seller to pay your closing costs, hopefully. So on a $150,000 home you would need $5250 for down payment plus maybe a few dollars for this and that. It can even be a gift from your parents or your children.
So there are reasons to be thankful for this market if you are a buyer!!! Get busy!!! I am still thankful for my job, I love what I do, and want to make the most valuable decision you will ever make fun and easy for you. I have spent loads of time learning how to be a professional. That is someone that knows their business and how to help those who need assistance and someone to represent them that has more knowledge about the subject than they. I am that person. I can't wait to meet you and help you find your dream house.
Call me and let me show you how to own your home while the getting is good!!! Don't wait on rates and prices to increase, because they definitely will.