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Kingwood, Atascocita, and Humble Texas Real Estate Update

Lorna Calder

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2009 Homebuyer Tax Credit - Time is Slipping By

by Lorna Calder

As a first time home buyer you can now take advantage of the new tax credit being offered.  This is called the Housing and Economic Recovery Act of 2008.  This Act includes a number of provisions that will help prevent foreclosures and reinvigorate the housing market as well as strenghten the nations economy.

If you feel the time is not right for you to buy your first home you might be interested in learning more about this Tax Credit that was created just for you.  And, then look at your credit then the interest rates available.  This might be a great time for you afterall.

As a first-time home buyer you can take advantage of the 2009 Tax Credit.  Visit 2009 Tax Credit FAQ's for more information. 

Do let time slip by.

 

 


I

Should I Buy a Home Now?

by Lorna Calder

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

Displaying blog entries 261-262 of 262

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