This August is a Great Time for Buyers

August 23, 2011


Why would anyone say that any particular month is a great month for Buyers? Possibly because those of us who pursue the profession of real estate sales see some positive incentives for prospective buyers.


1) Interest rates for 30 year fixed rate mortgages are at 50 year lows.


2) You can still get a loan with a 3.5% down payment. With talk of new regulations wanting at least a 10% down payment, acting now may be a wise move


3) Home prices are almost half of what they were just 4 or 5 years ago.


4) (Here is an interesting incentive) Sellers who have been offering their houses for sale for 3 to 6 months may be ready to deal.


Yes, a number of homes offered for sale are short sales, but after three years of dealing with short sales, lenders and the government may be figuring out how to get them completed in a reasonable amount of time.


If you are some one who would like to own a home, contact a real estate agent and at least check out the inventory.


If you are thinking of making an investment, do the numbers; the rent may pay the mortgage.


If you have picked a location where you would like to retire some time in the future, check out the houses for sale. Buy one, rent it and when you are ready for retirement, convert it to your primary residence.


Just some thoughts on why this August may be a great time to buy a property.