There are three things you should first look at before deciding to purchase a new home. Do you want or need a new home, do you have a good credit score, and do you plan on living in your new home for a couple of years? If you fall under these three categories, yes, you should go out and purchase a new home today.
Builders are offering unbelievable deals on the purchase of a new home. Some builders are knocking tens of thousands of dollars off the purchase of a new home. In Arizona you can find homes for as low as $99,000… are you kidding me! Builders are bending over backwards to sell a home because their inventory of move-in ready homes is high. This is obviously a good thing for most home buyers. Get your free pool, upgrades, or take thousands of dollars off the price.
If you have good credit you can take advantage of most if not all of these great specials. Builders and lenders will give you prime savings on your home/loan. This is the case with all big purchases, but especially applies to the purchase of a new home in today’s market. I know of one builder who will shave up to $100,000 off the price just to get rid of the home. Everyone is scared to make such a big buy when the market is the way it is, but if you plan on staying in your new home for a few years, buying now will save you thousands and you will have more homes to choose from.
Yes, the Real Estate market is down all over the nation. However, as you know, the overall economy is strong in America and will help the real estate market bounce back. There is a lot of talk stating that the real estate market will stay this way for a few years. Though
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not impossible, I believe this to be highly unlikely. The powers that be will not let the real estate market continue as is and I think that we are getting close to stabilizing. If you are buying a home for you and your family then now is the time to buy. You can get into a home for cheap and watch the value of your home increase drastically over the years. Most think that if they buy a new home now it will only decrease in value, this may happen but couldn’t you pay more for the same home later, have less home choices or miss out on great incentives and interest rates?
The market will not likely get any worse. Actually, I believe that the market will begin to stabilize in the next 6 months. With the Fed reducing the interest rates and rumors that it will lower them again. We will start to see prices plateau and then start to slowly increase. If you have good credit, want to buy a new home and plan on staying in your home for years, then right now is the perfect time to buy.
