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There’s no better time to buy a new home September 3, 2009

Posted by CraftmarkHomes in Real Estate Advice.
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Should I buy a house now or wait until later? This has always been a common question among first-time home buyers. It’s up to you, the home buyer, to decide when to buy.

Five Good Reasons for Buying Now:

1. In May 2009, housing starts rose by 17% over April. This surprised many economists, who were not expecting such an increase. This rise in housing starts (new construction) indicates rising confidence within the building industry. This kind of trend usually coincides with housing recovery in general.

2. Many economists are saying that the housing market has reached bottom. This means that buyers can get into a home at “rock bottom” prices.

3. Mortgage rates have been at record lows for several months now, but they are starting to rise. During the week of June 8, 2009, the average rates on a 30-year fixed mortgage reached their highest point in seven months. Economists expect rates to exceed 6% by the end of this year (they were around 5.3% at the time of this article). Rising rates are another good reason to buy now instead of later.

4. “First-time” home buyers who have not owned a home in the last three years can still qualify for a tax credit on their purchase, up to $8,000. Currently, this program is set to expire in December 2009. So it’s yet another reason to buy a house now, rather than later.

5. Prices are still relatively low in most cities across the United States, but this will soon change. The positive signs mentioned above will bring more buyers into the market. This will eliminate any surplus of homes for sale, which will drive prices upward once again.

Here’s what it all boils down to. Only you can decide if now is a good time to buy a house. But there are plenty of good reasons to buy a home sooner, rather than later. So give it some serious consideration!

Article Source: http://EzineArticles.com/?expert=Brandon_Cornett

Is buying a home in today’s economy a good idea? July 17, 2009

Posted by CraftmarkHomes in Real Estate in the News.
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As a long-term investment, homeownership is still one of the best investments for individual households. Why, you may ask? After all, the headlines say the housing market is down and out, with defaults rising at an alarming rate, and mortgage markets so frozen that buyers can’t get a home loan at any price.  What buyers need to realize is that housing markets, like all markets, inevitably have their ups and downs. And homeownership has a track record that is virtually unmatched by any other purchase in terms of its real benefits. Despite the turmoil in mortgage lending, if you have good credit, a job and steady income, you will find there is still plenty of mortgage credit to be had at good rates. For well-qualified buyers, rates are running at near historical lows.