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Why it’s a Great Time to Buy a Home in 2011

Posted by VIP Realty on Monday, July 11th, 2011 at 7:07pm.

This year may be the best year to purchase a home! If you are in the market for a new home, and you’ve been waiting for the best time to take action, wait no longer! Why now may be the perfect time to buy a home:
  • The interest rates are still very low – Interest rates continue to hover near historic lows, so you may be able to afford the home of your dreams. With low interest rates comes the ability for many home buyers to finally purchase the larger Terrell Hills home they’ve always wanted. In addition, for other home owners, this may mean their mortgage payment could be much lower than if they waited and bought when interest rates increased just a point or two.
  • Good credit pays off – If you have good credit, lenders are likely seeking you out in today’s market. In fact, lenders are courting buyers with good credit with very attractive interest rates and home loan programs. Now may be the best time to contact your local lender so he or she can educate you about all the attractive home loans that are currently available to individuals with excellent credit.
  • There is a great supply of homes – Although home sales across the country have picked up recently, it still pays to note that there is a great selection of homes on the market. Because of the sheer number of homes for sale, it is quite likely you can hold out for a Terrell Hills home you really love, and one that is dramatically lower in price than it may have been just a few years ago.
  • Foreclosures and short sales are still in the system – Although you can’t automatically assume you will score the deal of all deals with a foreclosure or short sale, it is quite possible you can purchase a home in foreclosure or a short sale home for less than areas comparables. Purchasing a foreclosure or short sale does have its share of challenges, but if you’re up for a challenge, you could end up with a fantastic home for less than you thought possible!
 

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