Considering a Home Purchase? With so much in the news about the housing market and lending industry, it can be challenging to decide whether to go forward. Fortunately with the help of a competent real estate professional, the decision making process can be less daunting.  Understanding how to navigate through the complex process of buying a home is important, and for that reason you should have a REALTOR® you are comfortable with on your side – even if you choose to wait to buy a home.

However, before you wait to buy you should consider that now is a great time to buy a home for the following reasons:

  1. CHOICE - The selection is tremendous – with more homes on the market, buyers have a better choice as to what fits their needs
  2. VALUE - The values are above prices – due to the increased supply on the market, prices are below actual values in many instances
  3. INTEREST RATES - The interest rates are incredibly low – current mortgage rates are lower than they've been in 50 years and we may not see them this low for generations.  The interest rates can have as profound an impact on the cost of housing as the price of the home itself.
  4. Tax advantages
    1. Deduction of interest and property taxes
    2. Capital gains exclusion
    3. Favorable LTCG treatment on balance
    4. Home Tax Credit
  5. Social benefits
    1. Provides shelter and security
    2. Provides stability – (12 years vs. 3 years; U.S. Census American Housing Surveys)
    3. Encourages community involvement
    4. Fulfills part of the American dream