The Buying Market for Real Estate is RIPE With Opportunity – Buy A House NOW!

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There is no exaggeration when you hear about how the present real estate market is a buyers’ one. Real estate agents, analysts and news media all over the country are constantly alluding to the fact that this market is the best they have seen throughout the life of their career. What are the reasons for this incredible opportunity being presented to buyers these days? In this article, we explain exactly why you cannot afford to miss this fantastic chance to either get into the home of your dreams, move up into something bigger and better or become a first-time homebuyer altogether.

Extremely Low Interest Rates

Homeowners who are buying during this ripe buying season are securing 30-year low lockdowns on interest rates that will positively impact them for the rest of their mortgage lives. Month after month, year after year the housing payments that include mortgage, tax, title, insurance etc. will all be far more affordable than just a few years ago. And the best part is that this rate is locked down for good (assuming a 30-year fixed rate is obtained).

Even if potential buyers are thinking of getting into the market sometime in the near or distant future – it should be a serious consideration to move up the time to buy and buy now. The market has not been this favorable for buyers since 1998 – fourteen years ago! We are seeing averages in the range of anywhere from 4.25% to 4.75%. This makes it the most affordable it has been to borrow money for a home in over 14 years. In some markets, rates are even lower.

Housing Prices Last Seen in the 90s

Current home prices are touching 30-year low levels that beg to be enjoyed in terms of the buyers’ market. We are seeing condominiums being sold at prices that rival the same as those in 1998! That is an incredible phenomenon that most Realtors cannot say they have been able to witness in their professional lives more than once. Low home prices extend to single-family homes as well, with today’s price levels rivaling those from 2002 or 2003. Buyers being able to buy a home at the same price they would have been able to buy 10 to 14 years ago is unprecedented and an opportunity that anyone remotely in the market to buy should consider. Couple home prices with low financing rates and the cost to own a new home is lower than it has been in decades.

Investors, Sellers and Everyone Else

People looking to invest in properties could not be faced with better conditions than now. Since real estate investment is a long-term consideration anyway, it only makes sense to avail the low interest rates and plummeted property values and gain some assets that will be a solid ROI in just a few years from now. If the property you are buying happens to be your primary residence it is even better because you reap the benefits of low payments while your home appreciates over the years.

Sellers should wait if at all possible to sell as long as it is within the realm of their possibility. In many cases these days sellers have no choice and they are forced to sell their home at prices benchmarked to the markets’ low values. It is advised to try and wait as long as possible and try to hold on to the property until the market stabilizes. If you do have to sell, then meet with a reputable Realtor who can match you up with those buyers that are out there in the market right now.