Really, The Time To Buy Is Now!

Posted on December 1, 2010 by JA/LEX Real Estate in Shippensburg real estate Shippensburg realtors

Really, The Time To Buy Is Now!
Brought to you by: JALEX Real Estate Services

At JALEX we have been saying that the cost of owning real estate is now as low as it is going to get in our opinion. Those who are considered experts in finance, interest rates and real estate are all saying that interest rates are going to climb. Even of home prices drop some more, as we feel they will here in the Shippensburg area, climbing interest rates result in a higher cost of that home that you are waiting to buy. In November we attended the National Association of Realtors conference in New Orleans and tat very message was loud, clear and repeated. That interest rates are as low as they are going to get, that rates are heading upwards in fact and that some of the most effected areas of the country with respect to home values have stabilized.
Today the interest rate market had some day. Within the span of this day interest rates rose a quarter of one percent! This type of move is not very common and a possible sign that the amazing 4% 30 year fixed rate with no points is a thing of the past. The rates had reached their lowest point in early November and are now climbing as we reach the end of 2010. From a historical perspective the current rate of 4.625% is still amazing. There is an old saying which states that “what goes up must inevitable go down.” That certainly works the other way too.
If you have been pre-qualified to purchase and are taking your time looking for the best deal you might want to get looking with some more urgency. You may also want to check with your lender to see if the most current interest rates do not affect the ratios that you were qualified with. At JALEX we strive to be informed so that we can help you better than our competition. We put ourselves in the best position to hear from industry leaders and educators and we take that information and pass it on to our clients so that you can make the most informed decision. Here are just a couple of facts that I know:
1. Based on data that I have seen the wealthy are purchasing homes across the country at a rate higher than that at any time in the past three years. Those homes are in the price bracket greater than 1 million. If the wealthy are investing I would bet with them.
2. Publications throughout the country all stating with consistency that now is the best time there has ever been to purchase real estate.
3. The leading real estate market speculator, the man who predicted the 2006 bust has recently states the following “if you do not presently own a home then buy now! If you own a home then buy another! If you have family or friends that do not own a home then lend them money so that they can buy!”

Really, the time is now if you can. If you can’t then figure out a way.