Buying A Home Now Makes Sense

Buying A Home Now Makes Sense

Everyone knows that the economy has been shaky to say the least over the last year or so. However, with these uncertain economic times always comes an opportunity to take advantage of affordable deals in the housing market. Here are two reasons why you should consider buying a home in today's market.

Reason #1: Home Values and Mortgage Rates are Low

You have probably heard the old adage to "buy low, sell high", but when the real estate market has been in turmoil, it is hard to know when the sell high part will arrive. However, we do know that right now it is very possible to buy low. Sometimes, you can buy very low. Homes in some areas that were $100,000 only three or four years ago may now be selling for $40,000 or lower. Real estate agents report that some homes are going for as much as 80% of the value they were just a couple of years ago.

If you are thinking about buying a house, you could not find a better time in history to do it. Not only are the deals great right now, but some of the loan programs available are fantastic too, especially for those people who have great credit.

Reason #2: Home Buyer Tax Credits Can Offset Your Cash Outlay

Another opportunity for home buyers are possible home buyer tax credits. The government has really focused on making home ownership a possibility for as many Americans as possible. This has translated into several opportunities for actually making money in the way of a tax credit after closing. There are also fantastic deals for those who may be interested in HUD owned homes, including a program where the buyer only has to put $100 down!

As you can see, the deals are endless for buyers right now. Short sales, foreclosures and other great deals are everywhere, but you must do your research and your due diligence. There may never be another time in history where the prices of homes are this good in many areas of the country. Those who take advantage now will reap big rewards in the future.