After just finishing up our annual TEAM Retreat meeting, I am almost overwhelmed with ideas for our current market. I want so bad to be able to get the word out past the NEGATIVE media, that our local real estate market is still doing fine! AND it is still an incredible time to buy, especially at this time of the year. Plus we are unsure of what is to come in the next few months after the election is over and what the economy will do...but what I do know now is that interest rates are still at historic lows and that may not last. There are some great incentives with loans including FHA, 100% USDA loans, first time buyer $7500 Tax Credit, and more!!! One of our lenders, Cheryl New, sent out an email with 8 Great reasons to buy right now that I wanted to include below...so if you are on the fence about buying or know anyone who is, call us!!! It would be our pleasure to help them buy in this great time to buy market!!!
As the market continues to adjust to the changing economy, a number of factors are coming together in the housing market to provide unique opportunities for homebuyers and investors. For those looking to take advantage of falling interest rates, excess inventory and government incentives, there’s no time like the present.
One factor that’s leading many buyers to act now is the pending increase in minimum down payments required for FHA loans. On January 1st, 2009, the minimum down payment will jump from 3% to 3.5%--adding an average of $1,000 to the down payment on a new home. Buyers who close on their home before the end of 2008 can still take advantage of the lower down payment requirements.
8 REASONS TO PURCHASE A HOME NOW:
- Increasing Rent
- Low Interest Rates
- Tax Incentives
- Government Programs & Credits
- Great Selection
- Competitive Home Prices
- Investment & Appreciation
- Quality service from your realtor and lender!
Cheryl New
Branch Manager
512-517-7671 Cell
512-583-1040 FAX
