Time To Buy?

The bad news for the housing market sometimes seems like it will never end. Home prices continue to slide in many markets as well as home sales. But along with all the bad news are some compelling reasons for getting serious about buying right now! For example, home prices have come down so far in many markets it now makes the cost of buying a better financial deal than renting (see Trulia’s Rent-vs-Buy report). Add to that the fact that mortgage rates are at very attractive prices and you’ll begin to get the picture. Then consider renting! No ownership so no tax deduction…a landlord who does not want to make unnecessary improvements or repairs…and how about the ‘knock on the door’ informing you that you have to move because the home you rented has just been foreclosed. Owning a home remains central to American’s sense of well-being. A recent New York Times/CBS News poll reported a study that shows that nine out of 10 Americans say homeownership is an important part of the American dream. In talking with a new homebuyer last week, I was told “this may or may not be the long-awaited bottom of the market…but I’ve rented now for the past couple of years and I just can’t stand the idea any longer of putting money into someone else’s pocket for something I will never own.” Maybe it’s time that your family consider getting back into homeownership?