56% Increase In Sales Since January!!
Okay, people, finally some light at the end of the tunnel. Since January, we’ve experienced a 56% increase in sales and our inventory is down 2%. This is due to several factors, the strongest being that people are not putting their houses on the market if they don’t have to, the houses that are for sale have dropped their prices dramatically, and investors see the bottom as either here or close enough. Of course, the very low interest rates are also a tremendous help. Housing starts have dropped more than 50% while our population is still growing strong, so this will help lesson supply and increase demand. Several authorities, among them the Karl Case who warned us of the housing bubble, believe that the prices are now at bottom. That doesn’t mean that values will be sky-rocketing, but it does mean that we are leveling out.
Who Should Buy & How?
Certainly, if you’re in the market for house or plan on buying one in the near future, now is truly the time to do it. If you’re currently renting, you’re in the best situation. People who own a home with equity have it pretty good now too. Ideally, you can rent the home you’re currently in, which is a great investment if you can afford it. Remember that mortgage interest is tax deductible, so that’s definitely a plus. If you’d prefer to sell the one you’re in to get your equity, I strongly recommend that you sell first. There are so many homes on the market, that you’ll be able to find what you want after yours has gone to contract. It’s really the safest way. Because of the market, you’ll make less on your home sale, but if you’re sizing up, then you’ll save much more on the house that you’re buying. Remember too, that the current Amendment 1 tax reform allows you to port your tax savings, and the Save Our Homes will help keep your taxes from increasing. The lower the price when you buy, the lower your taxes will be for the entire time that you own the home. That adds up to even more savings.
You Can Afford A Place on the Beach!
If you already have a house, but have ever dreamed of owning a little beach property, this would be a great time for you also. If you can’t afford one yourself, it’s fairly simple to purchase one with 2-3 other investors. Many of these properties already have management in place to keep it rented and paying for itself. Some of them even come furnished!
Great Opportunities with FHA!
FHA loans, which were very unpopular for many years, are making a very strong come-back. Rather than relying heavily on credit scores, they’re now basing the lion’s share of the decision on your debt to income ratio. That refers to how much debt you have compared to your income. If you’re in the market for a house, hold off on that new car for now. You can always buy one later. I drove in a beat up car for quite a while, but it was worth it to own a home. Cars decrease in value where homes increase in value. If you’re worried that you can’t get financed, you’re better off speaking to someone who can help you take the right steps, rather than just worrying your way right out of once-in-a-lifetime opportunities. This buyer’s market is a great time to ask to have your closing costs paid, so plan on saving about 3% for a down payment and you’ll be in pretty good shape. FHA has raised their lending limits to open up loans for more homes.
Don’t Miss My Steps to Buying a Home!!
Everything you ever wanted to know & lots you never knew at all!
I’ve been writing a multi-part blog on the process of home buying. It includes everything from financing, PMI, and making offers to taxes, sink holes and HOA’s. You’ll be an expert by the time I’m done! Don’t forget to check my web site often for just a sampling of some of the great deals that are out there. If there’s a specific area or community that you’re interested in, contact me and I’ll set up a weekly search for you that will send listings that are up-to-the-minute, before they even get to realtor.com and other similar sites.
Okay, people, finally some light at the end of the tunnel. Since January, we’ve experienced a 56% increase in sales and our inventory is down 2%. This is due to several factors, the strongest being that people are not putting their houses on the market if they don’t have to, the houses that are for sale have dropped their prices dramatically, and investors see the bottom as either here or close enough. Of course, the very low interest rates are also a tremendous help. Housing starts have dropped more than 50% while our population is still growing strong, so this will help lesson supply and increase demand. Several authorities, among them the Karl Case who warned us of the housing bubble, believe that the prices are now at bottom. That doesn’t mean that values will be sky-rocketing, but it does mean that we are leveling out.
Who Should Buy & How?
Certainly, if you’re in the market for house or plan on buying one in the near future, now is truly the time to do it. If you’re currently renting, you’re in the best situation. People who own a home with equity have it pretty good now too. Ideally, you can rent the home you’re currently in, which is a great investment if you can afford it. Remember that mortgage interest is tax deductible, so that’s definitely a plus. If you’d prefer to sell the one you’re in to get your equity, I strongly recommend that you sell first. There are so many homes on the market, that you’ll be able to find what you want after yours has gone to contract. It’s really the safest way. Because of the market, you’ll make less on your home sale, but if you’re sizing up, then you’ll save much more on the house that you’re buying. Remember too, that the current Amendment 1 tax reform allows you to port your tax savings, and the Save Our Homes will help keep your taxes from increasing. The lower the price when you buy, the lower your taxes will be for the entire time that you own the home. That adds up to even more savings.
You Can Afford A Place on the Beach!
If you already have a house, but have ever dreamed of owning a little beach property, this would be a great time for you also. If you can’t afford one yourself, it’s fairly simple to purchase one with 2-3 other investors. Many of these properties already have management in place to keep it rented and paying for itself. Some of them even come furnished!
Great Opportunities with FHA!
FHA loans, which were very unpopular for many years, are making a very strong come-back. Rather than relying heavily on credit scores, they’re now basing the lion’s share of the decision on your debt to income ratio. That refers to how much debt you have compared to your income. If you’re in the market for a house, hold off on that new car for now. You can always buy one later. I drove in a beat up car for quite a while, but it was worth it to own a home. Cars decrease in value where homes increase in value. If you’re worried that you can’t get financed, you’re better off speaking to someone who can help you take the right steps, rather than just worrying your way right out of once-in-a-lifetime opportunities. This buyer’s market is a great time to ask to have your closing costs paid, so plan on saving about 3% for a down payment and you’ll be in pretty good shape. FHA has raised their lending limits to open up loans for more homes.
Don’t Miss My Steps to Buying a Home!!
Everything you ever wanted to know & lots you never knew at all!
I’ve been writing a multi-part blog on the process of home buying. It includes everything from financing, PMI, and making offers to taxes, sink holes and HOA’s. You’ll be an expert by the time I’m done! Don’t forget to check my web site often for just a sampling of some of the great deals that are out there. If there’s a specific area or community that you’re interested in, contact me and I’ll set up a weekly search for you that will send listings that are up-to-the-minute, before they even get to realtor.com and other similar sites.
