Hello Happy Bloggers! If you’ve been following this week, I’ve given you over 10 reasons to buy real estate NOW instead of waiting for the news media to finally give you some good news about the real estate industry. Here is my wrap-up about why buying a home in the Triangle should be on the top of your agenda, especially if you have been putting off buying a first home or moving to a larger home.
- The National Association of Realtors (NAR) has estimated that a one percentage point decrease in mortgage rates will increase home sales by more than 500,000. As of the first of the year, mortgage rates were at a 50 year low!
- The average price of a home from November 2000 to November 2008 has increased by 17%. That’s worth saying again – a 17% increase in the price of homes. Has your stock portfolio performed that well?
- NAR’s affordability index jumped to 131 at the end of 2008, up 17% from 2007 figures. The index indicated that households earning the national median income have 131% of the income needed to buy a home priced at the national average.
Finally, I want to give you a statistic that is truly staggering – are you ready? Over 30% of Americans own their home outright with no mortgage at all! Next time that someone tells you that this is the next Great Depression, please give them that number. Want to know how so many have achieved outright homeownership? Certainly they lived a disciplined life, but they also knew when and where to buy real estate. Many times they kept buying homes, improving them and then selling those homes until they were buying homes on an all-cash basis. Their advantage was knowing when and where to buy and sell real estate.
Do you want to own your home free and clear? Contact us now to find the very best homes on today’s market.
Have a blessed weekend,