when and where you want to buy.
although this is the selling season, so there is lots of opportunity in the market, and interset rates are lower this time, encouraging buyers.
Michael Spinetta NMLS 124703
AnnieMac Home Mortgage
115 RT 46 West
Mountain Lakes NJ 07046
Since no one knows your specific financial situation, or your personal needs (how long do you plan to be in the house, for example), I don't think anyone can or should make a blanket statement that it is, or isn't a good time for YOU to buy now.
Simply because interest rates are low doesn;t mean everyone should jump in and buy (in my opinion, anyway).
It's a personal and individual decision, and there are a lot of things that factor into it.
I suggest you speak one on one with someone (an agent & a lender) .....discuss your needs, job security, down payment and ability to qualify for a loan............and then you will know if now is the "right" time or not.
Best wishes in the new year!
Of course, right now with the interest rates as low as they are, I would definitely recommend purchasing. If you already own a home, consider purchasing an investment property. With as many people who have lost or are losing their home to short sale or foreclosure, they usually won't want to live in an apartment setting, which is causing rental rates to increase.
The thing to remember when you do purchase is to not use your home equity as a credit card/line of credit, that's what got a lot of people into the mess they are in right now.
Interest rates are really low right now. and they will begin to rise. Just heard QE3 stimulus will prob end even shorter than orig expected. so I expect interest rates to rise.
It is a great time to buy! If you don;t buy now you are missing an opportunity of a life time.
It may sound like a cliche but its true!
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The fact that everyone is scared to dabble in - much less commit to - housing makes it a close to perfect investment based on Mr. buffett's principle. But buying real estate is a good long term investment for many reasons.
If you negotiate and do not overpay, real estate is a good investment at any time.
It's even better if the interest rates are as low as they are now.
This is because these low interest rates allow for buying a larger property with a comfortable amount of mortgage payment...
However, before buying - think how long you'll stay in the area.
If it is longer than 5 years - go for it. If not - make sure you can sell when leaving, without a loss.
Hope this helps,
Beachfront Realty, Inc.