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Rents are Rising is it Time to Buy

When Millions of Americans where losing their homes in this latest recession, many needed a place to live, and started moving into apartments and rental properties. That shift caused rents to soar.  Going back in History, it shows that since 1988 rents have doubled and are expected to continue to rise as long as the demand is there.

Well folks, Tax Time is now upon us again, and a lot of you will be getting a nice return, so those of you that have been saying you are tired of paying your Landlord's mortgage and would love to get a home of your own, what are you waiting for??  Every situation is different and yes some of you do not have a choice, however this is directed at "you" yes you, that do have a choice and just cannot muster up the courage to make the plunge.

Home values and Mortgage Interest rates are projected to continue rising in the next few years so buying now might make a lot more sence than...

When is a good time to Buy Your New Home.

What a different housing market we are in now, compared to just a few short years ago.  When sellers were selling their home, they were forced, in most cases to accept offers below asking price and paying closing cost to boot, and in some cases, they gave the buyer anything they wanted just to sell, also interest rates were then at a record low 3% range, which made it a great time for buyers to purchase a home.

Buyers were told at the time that this will not last and if they truly want to buy a home, they had better do it soon, some listened and some didn't.

Well now the tables have turned, interest rates are up to the high 4% to low 5% range. Sellers are getting multiple offers within days of listing their homes and in most cases they are getting more then their listed price.

This Home buying frenzy we are now seeing is not...

Is it the right time?

I get asked this question more than any others:

"Is it the right time to buy or sell a home?"

The answer is YES. Prices and interest rates are at an all time low.  These two factors are going to change in the near future. Today, we got indication from the FED that interest rates will go up when unemployment get below 6.5%. The economy is in recovery and unemployment is going down.  It is just a matter of time before interest rates begin to climb. This means that buying a home will be more expensive. As a home seller, this means that a buyer will need to have more reserves or have a higher salary to afford your home.  As a home buyer, this means that the you will be able to afford a less expensive home in the future as opposed to now.

I also see a serious change in regards to inventory.  By inventory, I mean homes on the market for sale to the retail buyer.  Well priced homes in desirable areas are spending less time on the market and the best homes are getting multiple...

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