Dineen Grosso

It is absolutely a good time to buy real estate if you are buying for the right reasons. At this time there is an abundance of inventory to choose from, low interest rates, available tax credits, and of course home ownership is a major tax deduction. This is not to say you should buy more house than you can afford as many did during the "boom", but it is much better than renting and paying someone else's mortgage. If you plan on living in your home and staying there for at least a few years, it is definately better to buy than rent. With the economy the way it is, how do you know the person you are renting from is or isn't paying their mortgage, leaving you the possibly of getting evicted with little notice even though you may be paying your rent? Why would you want to pay someone else's mortgage with no available tax deductions? Real estate values WILL go up, but at a more realistic rate than during the "boom." That was an unrealistic appreciation rate and something had to happen to correct that unrealistic market. Today's prices are back to being affordable, where they should be, interest rates are still low, and borrowing guidelines require more careful lending, assuring buyers are NOT buying home than they can afford. Homeownership is and always be a good investment if approached properly and with the right guidance. - Thu Apr 2 2009, 03:39