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5 Reasons to Buy a Home Now


Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:

Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

Price Increases Are on the Horizon

Prices will bounce along the bottom this winter. However, projections call for appreciation after that. Several studies and surveys call for price increases over the next few years starting in 2013. One such survey shows that prices will increase over 10% by 2016.

Rents Are Skyrocketing

Rents historically increase by 3.2% on an annual basis. A study issued earlier this year projects rent increases of 4% for the next two years. Trulia recently reported that rents this year have actually shot up by 5.4%.

Interest Rates Are at Historic Lows

Federal Reserve Chairman Ben Bernanke has kept interest rates low in an effort to stimulate a lethargic economy. He understands that low rates will help housing and housing is a key to bringing back the economy. As the economy approves, the need to keep rates low will no longer exist. The 30-year-mortgage rate before the financial crisis was 6.57% (August 2007).

Buy Low, Sell High

We would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Today, real estate is selling ‘low’. It’s time to buy.

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3 Responses to “5 Reasons to Buy a Home Now”

  1. Kim Henderson September 17, 2012 at 4:12 pm # Reply

    Thank you this is Great News!! I will share with all my clients, family and friends. Kim http://www.kimhenderson.com

  2. Everett Scott December 17, 2012 at 10:47 pm # Reply

    Great article, will definitely share with my clients. Thanks

  3. Michelle Schultz April 17, 2013 at 12:35 am # Reply

    Our lease is up June 2013 so when should we start looking and purchasing a home? I wanna make sure everything falls into place. http://www.manhattanluxuryrealestate.biz

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