We’d like to be honest about something: There are plenty of reasons why “other people” want you to buy a home. But there are even better reasons why you should do it for yourself.
As far as the “others”, we’ll be the first to admit: Owning a home is a huge driving factor in our economy. It affects builders, real estate professionals, insurance agents, contractors, inspectors, appraisers, furnishings stores, interior decorators, and yes – mortgage lenders, too. The real estate market is tied into the cycle of jobs, and the list of benefits it brings to your local community are innumerable. In other words, the act of buying and owning a home – one person, one couple, one family at a time – has a cascade effect on your hometown that simply cannot be overstated.
“Even so – those reasons don’t address the most important factors about owning a home,” reveals Rick Piette, owner of Premier Mortgage Lending in Las Vegas. “It may sound surprising – even as you realize the livelihood of so many depends on the purchase and sale of real estate in your community. But making the choice to purchase a home actually benefits you the most – and is perhaps the most life-changing decision you can make.”
Rick Piette goes on to explain there are some very fundamental reasons this will always be true.
“When you’re in the midst of shopping for a home, there are elements your mind is constantly evaluating,” continues Piette. “Beyond the obvious points of finding a home style you like and being close to schools and shopping – your brain is actively making connections about your comfort level with the area. Proximity to people and places you’re familiar with; judgments about the surrounding homes and neighbors, and more. In fact, a wise real estate professional will find ways to appeal to your basic, evolutionary desires that address your need to supply safe surroundings for your family, a sense of community, and ways to provide relaxation (whatever that might mean to you).
“Why is this important?” Piette asks. “Because you’re not only making a financial investment in building your personal wealth – you’re putting down roots. Ultimately, where you choose to live will inform who your future friends will be, who your kids will meet and offer different opportunities for their futures. It’s the place you’ll create memories, build traditions, experience joy and heartache – and live life in all its myriad of flavors. It will be your “safe haven” from the world, where your family gathers to enjoy its unique existence. And it will be the base from which your children venture forth into the world as adults – their success often relying on the home environment you provided and on which they have come to depend.
In short, as this recent Wall Street Journal article elegantly informs, “A home is more than an investment. It is the place that helps shape who we are.”
“That’s why it’s no small matter – owning a home,” Piette adds. “Because the affect it can have on the trajectory of so many lives is immeasurable.
“For the past several years since the Great Recession, many people lost that touchstone and were forced by circumstances to become tenants rather than owners. But it doesn’t have to be that way. At Premier Mortgage, our mission is to find mortgage financing solutions that help families get back into their own home. We’re proud to say that’s exactly what we’re doing – one family at a time.”
“For years, interest rates have been at historic record lows in a nation-wide effort to help the housing market recover. And it’s worked, too. We’ve reported in previous blogs that all the data and statistics clearly show that over time the Las Vegas housing market has recovered. In many ways, it’s even healthier than ever.”
But the fact that interest rates have been so long for so long has also given buyers some leeway in postponing their decision to return to the ranks of homeowners. “Procrastination happens in everything we do,” suggests Piette.
“However, all reports point towards the fact that is about to change. The Fed has declared our improved U.S. economy and lower unemployment data indicate it’s time for an interest rate increase – and soon.
“What does that mean for those who have been ‘thinking about’ buying a home but haven’t taken action yet? Two things:
1) It’s time to get off the fence and make that decision, as delaying it can be costly in the form of higher interest payments on a mortgage loan; and
2) As many people will be making that call shortly – the amount of available home inventory will shrink as homes are removed from the market. That means potential buyers who felt they would have their pick of the home they want – will rapidly discover that’s no longer the case.
The bottom line is that there is plenty of great news affecting the current status of the real estate industry in the U.S.
• The economy continues to improve
• Jobs are still on the rise
• We’re healthy enough as a country to raise our interest rates soon
• But rates are still at historic lows right now
• Home builders are confident and building new homes to meet improved demand
• New mortgage loan industry regulations benefit borrowers more than ever before
• Time and distance from the housing collapse has made it possible for buyers to recover their finances and creditworthiness.
“Basically, if you were looking for a playbook on “The Best Time To Buy A Home” – you wouldn’t find a better convergence of circumstances than we’re facing right now,” reveals Piette.
When you decide that it’s the right time to buy, we’d like to remind you what Premier Mortgage Lending will bring to the table to help you make sure you get the right mortgage loan:
1) Savings (we’re the home of the true “No Fee” mortgage loan in Las Vegas)
2) Service (real people you meet and who work with you on your specific loan needs)
3) Transparency (no smoke, no mirrors – just apples-to-apples comparisons with other lenders, and honest answers to your questions)
You’ve heard it a hundred times before. But based on everything you just read, it may have never been more true: Now is perhaps the best time and opportunity to buy a home than ever before.
For more information on Premier’s loan programs and unique “Home Loans 101” educational program, visit. www.KnowBeforeYouOweNevada.com.
Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.