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Should I Buy A New House Now or Wait?

  

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Should I Buy A New House Now or Wait?

                I am asked this question at least 3 to 4 times a week by friends and family. With the economy in the condition that it is, there are many understandable fears about making such a large commitment.  But if you feel secure about being employed now and in the future, there is no better time to purchase a new home than now.

Here are the reasons you should purchase a new home today

1. Interest rate will never get cheaper than they are today.  Banks are borrowing money from the Feds at close to zero percent which enable them to loan you money at lower rates. That rate cannot get below zero %. So rate cannot drop any further than they have already.
2. Homes are built with things we call commodities/materials.  Prices for commodities are not going to dive. They many go up and down in a small range but will not take a dive. For that reason, new home price cannot drop much further than they have already.
3. New homes will not depreciate any further because almost all the over built supply of new homes has been flushed out of the market. The new homes market has had its price correction, so further drops in new homes is not likely. Because of these facts is why new home pricing is not going to drop any further but will increase as your market improves.

We all want to buy low and sell high. Well , now is the time to buy low so you can sell high later. 

Good luck on your search for that new home.  I hope this information helps you. If you have any question about building a new home or buying a new home , feel free to contact me.