It's A Great Time To be A Buyer!

It's A Great Time To be A Buyer!

Don't Be Scared Off By The Media Negativity...
Be Smart. Buy Now. Lots and Lots of inventory. Sellers understand they need to negotiate and interest rates remain remarkably low. Cut your own deal. Buy now and in a few years when the market rebounds (and it always does),you can pat yourself on the back and congratulate yourself on your brilliant strategy.

In 1982 interest rates went as high as 18% and 19%. The banks were charging 4 and 5 points and guess what? People were still buying vacation homes at the shore. Sure, the tax code was different then. (That helped)
Back then we did not have a dozen cable channels 24/7 with non-stop repetitive negative coverage hyping fear about the state of real estate market. Non-stop negative press is scaring off some folks who would really like to jump in and buy a property.

If you are one of these people who would really like buy a home please try to ignore all the negative press and understand real estate is cyclical and at the moment the market is undergoing a natural correction. A correction does not equate to a crash.

We just came off four years of insane sale prices with sellers and speculators securing a full price buyer as soon as the ink was dry on the listing. Those days are gone. Forget about it. Today's seller realizes he needs to negotiate. If you are ready to own a home here at the shore, step up and make a deal.

30 year fixed Mortgage rates still remain between 6 and 7%....this is a 45 year low!
Let's take a look at a home for $300,000 with 30 year fixed mortgage at 6.5 interest rate (with no money down.) Your monthly mortgage payment would be $1896.20. Back in 1991, your interest rate would have been 9.25% and that same mortgage payment would have bought a house worth only $230,492. In 1982 a 30 year fixed rate was 14.6% and same monthly payment bought a house worth only $151,657.

Take a look at the homes now on the sale market. Find one you like and make your offer.You'll be glad you did.
Call me. I love to talk Real Estate 800.708.5792
http://Nancy@NancyMAlexander.com
http://NancyMAlexander.com
CONTENTS COPYRIGHT NANCY M. ALEXANDER 2008