Should I buy NOW?
The answer to the question of purchasing a home now or waiting depends on your circumstances. Right now the "supply" is abundant and prices have decreased, in some cases, decreased substantially. There is a point, however, where a seller cannot continue to lower their price - as most have mortgages.If you have funds for a down payment in the bank, now is a great time to buy. You have a wonderful selection to choose from, the market has been slow and sellers are motivated. Realtors have more time to work with you to help you find the house best suited for you!
Many people have taken mortgages with 100% financing and interest only payments. It may help you get into a home, but if possible pay on the principal amount as soon as possible. If the market is rising and you need to sell, you should come out okay. If however, it is a down market and you must sell, you may find you owe more than you can get, especially after paying closing costs. This is just something to keep in mind as you are considering a purchase.
If you have any questions or comments, please feel free to respond to this blog at any time. You may also wish to go to my website for additional information on buying and selling a home. Website address is: www.TreasureCoast-Homes.com.
Thank you!
Mary Gibbins, ABR,AHWD,CRS,ePro,GRI
Realtor
Labels: buy now, buyers market, inventory, mortgages
posted by St Lucie Homes on the Treasure Coast @ 3/12/2007 09:13:00 PM
1 Comments:
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