Everyone seems to be talking about how “bad” the real estate market is right now. For those of you who like to gossip about it, I hate to break it to you. No the sky is not falling! In fact, now is the time to buy real estate. Interest rates are still at a historically low rate. Remember back in the 80’s when the interest rates were around 18%? Your $150,000 mortgage payment would have been a whopping $2,260.63 as apposed to today’s much lower $923.58. How’s that for a difference?
Many of our local banks and mortgage brokers are true professionals. There are so many mortgages products available today compared to even ten years ago. First time home buyers have it great with many of the incentive packages being offered right now – such as no PMI (read: fancy acronym for mortgage insurance) and 100% financing. Be sure to do your research and find out which bank offer you the best product BEFORE you fill out their credit application. Want good local bank references? Call me. I’ll be happy to point you in the right direction. You can also visit our Recommended Mortgage Lenders on our Gotta Guy List.
If you think now is the time to sit on the fence – you’re wrong. Ben Bernanke (Federal Reserve Chairman) is considering raising rates to cool rising inflation as a result of the stock market boom and other economic factors. What good is saving $1,000 up front when you’re paying that much or more every year for thirty years on your mortgage? Think long term and you’ll be better off than ever.
Not only that, there’s a lot of choices on the market. Finding and buying your new home is much easier than you think. Call me today at (828) 837-3002 to arrange an appointment to go over all the excellent options you have available. In less than 30 minutes, you can be well on your way to owning your own home.
John Poltrock – REMAX Mountain Properties- www.MyMurphy.com – Call us toll free at 1-866-687-7496