NOW IS A GREAT TIME TO BUY REAL ESTATE!

Five Reasons Why Now Is A Great Time To Buy Real Estate
It is springtime here in the Valley, historically the best time of the year to go house-hunting. Even though the weather is great right now, this year there are at least five compelling reasons that make this a great time to do more than just look at homes – Now is the time to buy. Here are my top five reasons to buy a home now:
1.) Record Inventory. There are more homes for sale on the market right now in the Valley than there have ever been. Americans like choices, right now there is something for everyone out there.
2.) Reduced Competition For Deals. For whatever the reason, many potential buyers are waiting for conditions in the market to change. Even though there is a record inventory of homes for sale in the Valley, the number of buyers is much smaller than in recent history. This translates to a “Buyer’s Market” where the buyer has the upper hand in carving out the deal.
3.) Low Interest Rates. Interest rates for mortgage loans continue to hover in the low six-percent range. Even though mortgage rates have remained historically low for a period of time, they can’t remain low forever. When the Real Estate market begins to heat up it is predicted that interest rates will rise to slow inflation.
4.) Value. Buyers tend to wait for the best time to buy real estate. We all want the best value for our dollar. Buyers continue to ask me if the market has “hit bottom” yet. Many are waiting for that magic day to enter the market. Bottom is a relative term, and can only be seen in the rear view mirror as the market recovers, many times very quickly. If we are not now at the bottom, we are very close. Even if you might now pay just a little more than you might a few weeks from now, historical appreciation and a small up-tick in interest rates will make the difference irrelevant within a very short period of time.
5.) A Safe Investment. A rule of thumb in real estate that has been proven over and over here in the Valley continues to be true even in this “correction;” the value of real estate will double every ten years. Currently the National Association of Realtors is touting this fact in their national advertising campaign. My father bought a home in central Phoenix in 1958 for $18,000, following that rule of thumb that home in 2008 should be worth $576,000. In fact that home sold in 2006 for approximately $780,000! We have seen many cycles in the Valley real estate market over the last 50 years, but home values have always bounced back.
There May Never Be A Better Time To Buy Real Estate; Record Inventory + Buyer’s Market + Low Mortgage Interest Rates + Value For Your Dollar + A Safe Investment = Sweet Real Estate Deals!
ZERO DOWN IS BACK!
Zero Down Is Back!
New FHA Program Provides Incentives For Home Buyers
The Federal Housing Administration (FHA) recently announced adjustments to the loan programs that the government will stand behind. Lending limits have been increased, interest rates have decreased and the fed is allowing Sellers to pay up to three percent of normal closing costs. This new program will provide up to 97% of the appraised value of the property - however, the fed will also allow third party participation to cover the remaining 3% required to fund the purchase of the property - A True 100% loan program. Mortgage interest rates are now in the low six percent range. Monthly principal and interest payments on a home purchased for $200,000 could be as low as $1,218 under this 100% program.
For More Information Regarding This Mortgage Program Call:
Ken Seaver
American Mortgage Group
480-785-6035
480-609-5164
There Is No Cost or Obligation For A Pre-Qualification Letter From Ken.