Is now a good time to buy?

The best thing I can do is help you answer this question is to point out some key factors you must consider, when deciding whether to buy a house now or wait until later.
Right now, mortgage rates are at their lowest point in decades. The average interest rate for a 30-year fixed mortgage has varied between 4.78 to 5.25% … and that’s a darn good! So that’s one thing home buyers have in their favor right now.
Home prices are also at record lows in this area, which is a direct result of the housing problems we just endured. Surplus is high too, so there are plenty of houses to choose from. Add to this the $8,000 tax credit for first-time buyers, and you have plenty of reasons to buy a house now instead of waiting until later. Low interest rates, low prices, plenty of inventory, and a tax credit of eight grand.

Also consider that rents, along with the cost of living, will always continue to climb. So no matter what conditions in the housing market are, the sooner you make the jump from renter to home owner, the quicker you begin to create and build up wealth for your family. After a few years, you will be able to leverage this investment and buy a larger house.

These are all good reasons to buy now. For answers to more questions about home buying, visit our website at www.themcfarlandgroup.net.