To answer in a word, maybe? The fact is it depends on who you are, what your goals are and what stage of life you are currently going through. Let me list a few scenarios where making a move in today’s Real Estate market might be too good to pass up.
1st Time Buyer – Today’s first time buyer is really set up for success. Not only will he or she take advantage of a price adjustment of over 20-25% from just a few years ago but they can also smile about historically low interest rates. Today’s 1st time may qualify for rates as low as 4.875% as of 1/19/2010. This extremely low rate will be able to place a buyer into a lot nicer home then they would normally be able to afford if interest rates were higher. Also, 1st time buyers have another few months to take advantage of an $8,000 tax credit. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify. 1st time buyers purchasing their first home now are buying at or near bottom. Real Estate has and will always be a great wealth builder. Purchasing Real Estate now will insure a safe and secure financial future.
Moving Up – For existing homeowners who may be looking to move up to a bigger home, present conditions in the market offers great rewards. Is your present home becoming a little snug for your family? Did you always want to move to a particular neighborhood? Maybe extended family is combining households and your needs require a larger home. These are all favorable scenarios to purchase in today’s Real Estate Market. Presently inventory is growing and as more and more homes become available to purchase your odds of finding exactly what you’re looking for increase. Combine that with historically low interest rates and houses going for about 20-25% off their highest values and you have “great market timing”! Sure you will sell lower and take less for your home then maybe you are thrilled about but look at the bright side. You are going to spend more money then you are selling for. If you sold your $400,000 home for 10% less than you would have liked you are short $40,000. But now you turn around and buy something for $600,000 that would have been $60,000 more just a few years ago – you are ahead $20,000.
Houses on sale!
Low Interest Rate!
Maybe today’s consumer could not pick a better time to buy or sell! If you are thinking now might be a great time for you to make a move call a Coccia Real Estate Group professional today! A Realtor will listen to your needs and ask questions to determine if it is the “RIGHT” time for you to buy and or sell!
Coccia Real Estate Group