Owning a home continues to be a sound long-term investment and most Americans continue to believe that home ownership is a positive move. But recent headlines surrounding the economy and the housing market have potential homebuyers wondering whether or not now is a smart time to buy. With an abundance of homes for sale and interest rates remaining at near historic lows, now might be one of the best times in recent history to pursue the American Dream of homeownership.
We offer the following insights to consumers who are thinking about becoming first-time homebuyers:
1. Affordability: Right now home prices across the country are at record lows. And, here in Thurston County the median home price has fallen 13.2% since the peak in 2007.
2. Increased Inventory: The large supply of homes for sale gives potential buyers more options than most have had in the past. Homebuyers today have the opportunity to be more selective in choosing the home that best fits their specific needs and wants.
3. Favorable Interest Rates: Interest rates are near record lows. Buyers who previously may not have been able to afford monthly mortgage payments may be pleasantly surprised to see the impact lower rates have made.
4. Negotiable Incentives: Sellers eager to get an offer may include specific incentives. While these are alluring it is best to discuss with your real estate professional what the net benefit or impact of any incentives will be.
5. Financial Security: Financial security comes with real estate investment and home ownership. For tax advantages of home ownership please see the article by the National Association of Realtors by following this link: http://www.realtor.org/rmodaily.nsf/pages/News2011020701?OpenDocument
As we go about the daily business of living our lives, there is more to home ownership than pure investment. Our home is where we can be ourselves, establish traditions, form family values and become a part of a larger community. These are the reasons we are in the business. At Coldwell Banker we look forward to helping you find and live your dream. This is a great community to call home. If you are ready to find your first home, dream home or simplify your life our agents are ready to help. Expect more from your home search and contact us today. For more information on homes in and around Thurston County, or to contact a Coldwell Banker professional, please visit www.cbolympia.com.
