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House Hunting: Why This Is A Great Time To Buy
Is your New Year's resolution to find a new home? There are thousands of houses currently on the market, and the right one for you is surely waiting among them. Find your home this year--we've listed the top reasons that right now is the time for house hunting! Rock bottom home prices. Home prices are lower than ever thanks to the surge of houses for sale flooding the market after the real estate bubble burst. Prices may rise slightly during this year, making it a perfect time to take advantage of low amounts now. After 2013, economists have predicted prices will stabilize and start to increase. Although the current low prices are frustating for sellers, it's great news for buyers like you. Low mortgage rates. Mortgage rates are staying low along with home prices, no matter what type of loan you seek. Whether you go with a traditional lender, a broker, or your own institution, you're likely to find a great rate wherever you choose. Not only will you gain a tax deduction from your mortgage, you'll also be building a great resource as the loan goes on--home equity. It's a buyer's market. Those low prices can often be driven even lower if you or your realtor have some bargaining skill, especially if you live in an area with a particularly distressed market. Try searching through the foreclosure listings as well. If you find a home you like that's been on the market for a while, chances are the bank may be getting desperate to recover their loss and may take your lower bid. Make your dream come true. In previous years, it was beyond the reach of many to buy a home for themselves and their family. Soaring home prices, high interest rates, and lack of choices drove consumers away from the classic American dream: owning a home of their own. Now that million dollar home you used to drive by and look at wistfully may be less than half that. Don't be afraid to search for what you may have once considered out of your range--it now might be within your reach. Ready to start the hunt? Before you take off, be sure to browse through Lender 411's vast array of resources, calculators, and lender profiles. With the information you need to be a house hunting pro at your fingertips, you're sure to zero in on the perfect home! |
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