Real Estate news

The Press makes the Market look bad for Everywhere.

And that just is not So.  Some areas are doing just fine.

And the Montgomery Area is Lucky to be one of them.

Now really is a good time to buy.  The interest rates are still low. You can find them hovering around 6 1/4 to 6 1/2 percent.  The over priced values of most homes have now fell enough to bring them within means.  And the combination of a good sales price along with the low interest rates, makes these homes now affordable.  You can get a lot more for your money.

The buyers have quite a bit more to choose from these days, which makes shopping around worth while.  There are more than the average foreclosures on the market for those that want to build equity by doing their own repairs. And there is still a loan for that (FHA 203K).  And some bank foreclosures may not even need repairs.  If you choose your home sensibly, you may have equity already in your purchase at the closing table.

Buyers still in most cases, get to claim their Interest Paid on their mortgage loans, making it a great tax deduction. If you are renting, that is not even a possibility.  You are just buying your landlords home for them. And you are building their equity up.

Most lenders have now gotten away from those crazy, unbelievable loans that have put homeowners in despair. As long as you stay with a Fixed loan, you are doing good. 

Sellers are more out to negotiate now, with it being a buyers market. Thus creating a better deal for the buyer.  The buyer now can better negotiate for the seller to pay their closing cost, along with most of the pre-paids. This saves the buyer alot of money at the closing table, and making the home much more affordable.

Their are still a couple of 100% loan types available. The Ameridream - Has the seller paying the buyer's down payment, and you still can negotiate the closing cost. The Rural Development program is available for some areas. That is 100% loan and no PMI - extremely affordable.

So tell me, Why are you still Renting - Throwing your money away?  Or Why are you in a home you can not afford? One which you may have purchased with one of those crazy loans. Lets get rid of that, and get you in one, where you are comfortable with the payments. Homes are still selling. And buyers are still buying. People will always need a place to live. The Real Estate Market always bounces back.

Remember in the late 80's when the interest rate was way out of control? Somewhere between 14 - 18% Hardly no one could afford to buy. The interest rate put the house payments way up there. Sellers had to get creative in order to sell their homes, like buying down the interest rate so the buyers could afford to buy. But the market all came back. And at the moment we have great interest rates. So that is no longer the case.

As the interest rate rises, even slightly, could mean the difference between a buyer being able to afford a new home or not. The current interest rate can change drastically over a short period of time.  Why wait, if you are even considering the purchase of a new home. Now is the time to Buy.

Thanks for visiting my Web Site : www.tricountyhomepages.com

check back as we update regularly.

If you should have any questions or want more information on anything pertaining to Real Estate, don't hesitate to call or e-mail. Thanks

Lynn Rawlinson, Realtor, Assc. Broker, ABR, CSP

Coldwell Banker Towne Realty

fnd14u@aol.com (email)

334-467-5727 Cell

www.lynnrawlinson.com