10. Houses sit on the market for a longer period of time. This means you have less pressure in finding the house that is right for you.
9. Because the average days on the market is longer, you stand a much better chance at buying a house for the price you want.
8. Interest rates are low and they might be going lower soon. Lock in your rates with your mortgage broker now and save money over the life of your mortgage.
7. If you are looking to buy a property as an investor, now is a good time. The market value of properties have dropped quickly but rental rates are more sluggish to change. This means that you will likely be able to cover all your costs with the rents received.
6. Slower economies mean more foreclosures. While it's not easy being on the side being foreclosed on, banks generally sell these houses at values that are below market value.
5. If you are renting, this might be a good time to buy to out pace the market. Slow times now generally mean better times ahead. You may be able to buy a house and make mortgage payments that are similar to your current rents. When the market goes up you will have equity in your home.
4. By buying in a slow economy you will actually be doing your part in helping the economy pick up again. So make sure everyone you know buys a house this year!
3. If you have to sell your house in order to buy another it might not be a bad time to move. Yes prices are dropping so you will get less for your house but the house you are going to buy will also be less and your net amount will be the same.
2. Because some area's average prices are dropping faster than others, you may be able to come out ahead depending on what area you move to and what area you are coming from.
1. Remember: Buy Low, Sell High!
Subscribe to:
Post Comments (Atom)
Posts
3 comments:
house prices might be on the rise now in the UK or at least in London which is very odd.
private investors
I would like to invite you to our National Hard Money Conference on hard money lending, Mortgage Brokers success, REO's, mortgage pools and much more. Held in Las Vegas at the Rio Hotel, September 3rd.
Investors, Brokers, Private Lenders and Real Estate Developers from around the country will be attending this once in a lifetime event.
It's billed as the largest hard money conference in the country.
September 3rd, Rio Hotel - Las Vegas
Its a great opportunity for those who are interested to buy and sell such property in a slowing economy,it is expected that the prices will be getting lower than normal price or range.This is the time that you can avail properties you would like to posses.
Best regards,
seattle relocation
Post a Comment