Now is one of the best times in history to purchase a home. Here is why we think so:
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Top 3 reasons to buy a home now
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What it means to you
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1. Awesome AFFORDABILITY
· Mortgage defaults have driven prices down
· Inventory (supply) is high
See: http://www.realtor.org/research/research/housinginx
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· More house for the money
· Opportunity to get tax benefit
· Strong buyer negotiating power
· Great time to invest in real estate appreciation as part of your investment portfolio
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2. Super SELECTION
· Summer new construction completing
· High short sale inventory in all price ranges
· High bank-owned (REO) inventory
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· New construction is an option
· Better ability to choose your neighborhood
· Fewer “bidding wars”
· Better location choice
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3. Right RATES
· LOW mortgage interest rates
· LOW down-payment percentage
· HIGH apartment rental rates
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· Smaller down payments
· Smaller payments
· Build equity faster
· Ability to stop paying someone else’s mortgage
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Example Kent area for less than $200,000
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Price
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$ 199,900
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Type
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Residential
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Bed/Bath
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4/2.5
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SF
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1769
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Year
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2005
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< $200K Analysis
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Rent / month
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Buy / month
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Payment
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$1,200
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$954
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Tax, Ins, other
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$20
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$434
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Cash to close
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$0
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$6000
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Tax benefit
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$0
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$303
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Monthly equity
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$0
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$267
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5-year equity
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$0
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$44,649
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10-year equity
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$0
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$89,679
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Example Issaquah area for $375,000
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Price
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$375,000
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Type
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Residential
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Bed/Bath
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3/2.5
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SF
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1,880
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Year
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1987
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< $375K Analysis
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Rent / month
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Buy / month
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Payment
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$1,800
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$2,047
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Tax, Ins, other
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$20
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$920
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Cash to close
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$0
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$12,870
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Tax benefit
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$0
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$696
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Monthly equity
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$0
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$573
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5-year equity
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$0
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$95,773
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10-year equity
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$0
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$192,361
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The above examples are currently listed properties. Find more great properties here.