9 Reasons To Buy A House Now
by Marc Davis
“If you’re planning to buy a house right now, the next few months may be the best time to buy. Waiting for both housing prices and interest rates to fall may not be a good strategy for potential homebuyers since analysts don’t expect any significant declines in these two most important home-buying factors. Here’s nine real estate trends that suggest you should get into the housing market sooner than later. (To learn more, check out 5 Tips For Recession House Hunters)
TUTORIAL: Buying a Home
1. Lowest Housing Prices in YearsNobody knows when the housing market will hit bottom, but prices are at their lowest in several years and may soon start inching back up again. So buying now or in the near future may be the right time. An abundance of bargain-priced housing is now available because of foreclosures and falling prices.
2. Interest Rates at a 50-Year LowInterest rates are near a 50-year low, according to housing analysts. By the second week of May, 2011, 30-year fixed mortgage rates had fallen to their lowest rates of the year at 4.63%. Although mortgage rates vary from day to day, the 30-year rate at this level is an attractive inducement to first-time buyers, or buyers who want to either move up to larger residences, or others, including many empty-nesters wanting to sell and move to smaller houses or condos.”
Get the other 7 reasons via Katy and Houston Area News and Events.