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Mortgage rates are at historic lows, remaining at or below 6%, and well below their all-time highs of over 18% in the 1980s.
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The rate of return on a housing investment dramatically increases the longer it is held (Harvard University Joint Center of Housing Studies).
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The median net wealth of a renter household is $4,800, while the median net wealth of a homeowner household is $171,700. (Federal Reserve Survey of Consumer Finances) |
Window of Opportunity
With the $8,000 Homebuyer Tax Credit extended to April 30, 2010* and a $6,500 tax credit added for homeowners looking to buy their next home, a window of opportunity is open that may never be seen again.
(*You must have a signed and binding contract to purchase by April 30th and close on or before June 30, 2010)
“All Real Estate is Local”
Market conditions being reported nationally do not necessarily reflect the real estate market in your local community, neighborhood or street. Speak to a REALTOR® who truly knows your local market.
Building Wealth
Owning a home not only provides you with shelter, but it is one of the best ways to build wealth. In addition to the tax benefits, real estate has delivered the most consistent positive return over any long-term investment during the last 40 years.
Timing
The right time to buy (or sell) is when it is right for you. Trying to time the market is extremely difficult as the only way to know the market has hit bottom is when prices are on their way back up.
Motivated Buyers
With the expansion of the Homebuyer Tax Credit, buyers now have a great incentive to get into the market. For sellers this means they have a better chance to become a move-up buyer.