Tuesday, February 9, 2010

I Wish I Was A First Time Home Buyer

Yes, I really do wish I was a first time home buyer. Never in our history has it been a better time to buy your first home. With the current depreciation of homes your buying power has never been better. Current home values are as much as 40% less of what they were 4 short years ago. There is also what's known as a "buyers market" going on right now. In other words, you are in the drivers seat as far as what you want in a home and what you would like to pay. There is some bad news though. The $8000 government assistance for first time home buyers will expire at the end of April. With this assistance the government is basically paying your first year of house payments! Also, according to industry sources like Morgan Stanley, interest rates will be rising at the end of March. Morgan Stanley predicts that they will rise to at least 8% while other industry companies are predicting at least 7%. That's why now is the time to buy that first home.
Did you know that 3 years ago there were over 4000 realtors in our area? Last year that number dropped to 1800! Of that 1800 half, 900, only sold 2 homes the whole year. Our team sold over 70 homes in the same time span. Our team has over 45 years of experience and will use that knowledge to market and sell your home. So, if you want to buy that first home, or buy another home, or want to sell your property you need to contact me at 616-719-8680.

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