It's the Best Time
to Buy or Build the Home of Your Dreams
With all the news lately about the housing crisis, the
falling dollar and the sub-prime mortgage mess you'd think
this would be one of the worst times to consider taking out a
mortgage to buy or build the home of your dreams. In
reality, this is one of the best times in years to be able to
take advantage of lower home prices and the falling cost of
construction materials as the housing market cools. Wise
home owners, and future home owners, should take this
opportunity to get the house they always wanted at mortgage
rates they can afford!
With the housing market in a slump, those who have played
the waiting game may not have to wait any longer.
Housing prices have fallen and those houses that were outside
your price range just two short years ago may now be easily
affordable. It's a buyer's market and the number of
existing homes on the market means that you can have sellers
compete for your mortgage dollars! In fact, savvy
consumers will take advantage of such deals as seller-funded
closings and seller-bought points to help shave your interest
rate down every further.
Now may be one of the best times in your life to consider
upgrading to a bigger house, or finally taking the plunge and
buying that first home of your dreams. Mortgage rates
are low and housing prices are coming down - and we all know
what goes down will come back up!
Perhaps you have the itch to build the house of your
dreams. Many mortgage companies are still financing new
construction for homeowners because they know what the
homeowners know - the sinking housing market means that many
construction materials are also starting to go down in price
as supply outpaces demand. For instance, the cost of
concrete in some areas has fallen as much as 15% in just over
two years.
Just because the housing market has slowed down doesn't
mean you need to sit on the sidelines and wait until prices
and rates go back up again. Those who have maintained
good credit and have a decent down payment saved up will find
that they can get amazing deals on housing at rates that are
even more competitive than they were just a few short years
ago. Mortgage lenders, faced with a slew of bad
sub-prime loans, are looking for good, solid customers to
build their business back up and they are competing to attract
those customers to use their services.
A home is an investment that will bring your family
together and give you a sense of ownership. Take
advantage of low housing prices and rates now to help finally
move you and your family into the home of your
dreams.
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