NOW is the Time to Buy!!!

We hear this statement so often, but what does it mean to YOU?! Here is the deal...

Homes have NEVER been more affordable in the Raleigh area than they are RIGHT NOW! According to USA Today, 30-year fixed rate mortgages are the lowest they have been since 1971 and are down a full percentage point from a year ago. The head of mortgage finance company Freddie Mac said Friday that home loan rates are near their bottom and any further decreases will be small. Rates have been driven down by the Federal Reserve's decision last week to buy long-term government bonds and mortgage-backed securities held by Fannie Mae and Freddie. This equates to the housing market looking healthier in the near future!

Here are more reasons why it is a GREAT time to buy:

1. Who doesn't want $$$?! Uncle Sam is willing to help first time homebuyers (defined as those who have not owned a home in the last three years)to the tune of $8,000!!!

2. When prices come back up, you’ll have instant equity. In parts of the country where foreclosures have driven down prices, better times will mean the price of the home you buy will rise rapidly.

3. Mortgage costs stay the same. If you get a fixed-rate mortgage, the monthly payment stays the same – while everything else, including rent, goes upward.

4. You have to live somewhere! There is something comforting in the notion that your home is your own. You can paint it any color you want, let the dog run in the back yard and hang a swing for the kids in the front.

Convinced? GREAT! :) Glad I could help.

BTW...News 14 Carolina needed a Real Estate Expert for a local story and came knocking on the door of SPENCER PROPERTIES!!! Check out the story...

http://www.news14.com/Default.aspx?ArID=606728