Should I buy a house in Charlotte NC now? No matter how the economy is or how good your financial situation is, that seems to always be the question. Is the time right, should I make the commitment, what happens if?
The best you can do is to take stock of your situation, check the market, and then maybe see what you can prequalify for in terms of a home loan. The easiest place to start is to check what the “experts” are saying on the Internet about the economy, house prices and so on.
A quick search of the Internet shows that on April 12th, 2012 MSN Money says that there have been some small increases in interest rates, but housing affordability is still the “best in two decades”. Since interest rates can mean a great deal in terms of repayment costs, this means that there is a good chance that the home you want is one that you can afford.
Affordability is a definite plus, but what about finding the home you really want and being able to get an offer in before someone else takes it. Well, there seems to be good news in that area also. CBS News says that there is less competition in the home buying area. It seems that many people are looking, but there are fewer serious buyers in the market. This means the housing market is a buyers' market, and many sellers are willing to go that extra mile to make a sale.
So, we have a relatively good price market, interest rates are down and it’s a buyers market. Still not convinced? We have an interview with Warren Buffet on Feb 27, 2012, where he says, “It is a very good time to buy as many houses as you can”. Warren goes on to say that home prices are cheap, and if he had the means of managing them, he would buy a couple thousand single-family homes. By taking advantage of low-rate mortgages, you can get a 30-year loan and still save money.
Need more convincing? In a March 19, 2012 article, nj.com said that if you have been apartment hunting lately, you will notice that rental rates are up significantly, and available rental units are significantly down. This means that the cost of a rental unit may actually be more then a mortgage payment. The main reason for this is that due to economic and employment challenges many families are choosing or are pushed into renting instead of buying.
Okay, let’s say that you are convinced now would be a good time to buy a home, and you would like to buy in the Charlotte, NC area. What are you looking at in terms of price and types of homes? The Charlotte area housing market has stayed fairly flat. The median list price is $187,000 for a 3-bedroom, 3-bath 2,100 sq. ft. home on a .25 to .50 acre of land. Enough room for you, the kids, and a pet.
Now it’s up to you to take the next step. Whether you’re thinking of buying, selling or financing real estate, I’d love to hear from you! … Tiffany Johannes - Help-U-Sell Buy Today – Office Phone 704-837-0010 Email: email@example.com or visit us on the web at www.CharlotteHomeExperts.com