A quick note to let you know there are a lot of changes happening in the mortgage industry. With these changes it will be more difficult to buy a home in January of 2009. This is why I’ve created the Top 5 Reasons to Buy a Home in 2008!
Top 5 Reasons to Buy a Home in 2008
1. Tax credit of $7,500 will expire soon. Take advantage while you can.
2. There is a large inventory of homes currently on the market but the inventory is dwindling fast! Buy before the crème of the crop is gone.
3. Interest rates are fantastic right now. Today a 30 year FIXED rate is 6.175%*. Just remember, interest rate will be based on credit scores.
4. You can still get a mortgage today. Starting in January 2009 lending is tightening the ropes again. It will be more difficult to get approved. I’ll post more about this later!
5. Sellers in the Springfield area have adjusted their sales prices. Homes are priced well BELOW what they were just 6 or 8 months ago. When stocks are down you buy. When home prices are down you buy!
Please email me if you have more questions about the current market conditions. I’d be happy to discuss your specific situation and how buying in 2008 may be a great solution for you.
