2010 is here and it’s time to stop fretting over what happened to home values in the past and get on with living! Ask yourself a few questions:
Do you plan on living in a house for the next 5 years or so? While interest rates are very low, closing costs aren’t. It may only make sense to buy if you plan on staying in the home for 5-7 years. If you want to sell after 2 or 3 years, you could take a loss.
Are you credit-worthy? When’s the last time you checked your credit? Buyers sometimes underestimate the value of paying their bills on time, all the time! Don’t let that happen to you. If you’re have trouble, contact a reliable credit counseling agency and get back on track.
Looking for a permanent residence? Tired of renting? Ask your lender how much house you can afford. Divide that by the yearly rent you would pay for a comparable house. If the number is below 15, you might want to start thinking seriously about that purchase!
There are a number of loans available right now. If you’re a veteran, you can still buy a home with zero down. FHA and Rural Development loans are still available.
Don’t forget that the Homebuyer Credit is available, but only until April 30. We may not see this sort of stimulus again so don’t miss out. Remember, you don’t have to be a first time home buyer to qualify. Call me!
And, if you’re thinking of a vacation place, there are some great deals out there. Compare some of these affordable places to what you’d pay in motel rooms, eating out, etc and see if having your own place at the beach, with the added benefit of investing in real estate, and you might want to jump in now. Summer is coming!
Condo in Seaview, just $79,000!
And there are lots more out there. Be sure to check our interactive map on the bottom half of our website!
