I just read this great article about how now is a great time to buy a home. I know…. You probably feel like you have been hearing this over and over again. Now is a great time to buy…… Now is a great time to buy…… Now is a great time to buy. Guess what???? It is a great time to buy a home and here’s why:
- It’s a great time to buy a home to live in for the long run, or investment income (but not to fix and flip)
- The nation’s ratio of house prices to yearly rents is nearly restored to its prebubble average
- When mortgage rates are taken into consideration, houses are the most affordable
they have been in decades - 30 year fixed mortgages with good credit are down to 4.12% this week. Even lower last week at 3.94%
- It is becoming cheaper to buy a home then it is to rent
Here’s an example: Lets say you but a home in the Phoenix for $121, 700 with 20% down and a rate of 4.12%. Your monthly payment will be $420. For a comparable home to rent your monthly payment would be $1,100. Come on…. now this is a brainer. Wouldn’t you rather buy a home and save money?? Go ahead read the whole article!!! http://online.wsj.com/article_email/SB10001424052970204774604576629443313035736-lMyQjAxMTAxMDAwNzEwNDcyWj.html?mod=wsj_share_email
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