Stapleton Realty & Appraisal

With the market being a little tough right now, people may ask themselves, “why should I buy a home now, why shouldn’t I just wait?” Little do they know that it’s a great time to buy a home. Of course there are the typical reasons: Pride of Ownership, Appreciation, Mortgage Interest Deductions, Property Tax Deductions, Capital Gain Exclusion, the list goes on. So why buy a home now?

This is a buyers market. It’s a situation where the supply is greater than the demand, which means there are more homes to choose from. Sellers are more anxious to sell, so you will get the best deal for your money.

Interest rates are at historic lows. Since July of 1973 till 1981, fixed interest rates have been between 8.5% and 18.5%. In 2001, they dropped to about 7%. Today, the rate is under 6%. These rates give the buyer more purchasing power which allows you to buy more for less.

Within a year, the market will increase significantly. With the jobs and population increasing in Oconomowoc, it will only be a matter of time before the supply runs low and demand increases. This shows that prices are at the bottom and it is best to buy right now.

Wages are increasing according to the Department of Commerce. With wages increasing, the new job market will increase and the idea of owning a new home becomes real for a lot of people. This enables buyers to buy great homes at low monthly payments.

Buy at the bottom of the cycle. You have heard it a million times. Buy low and sell high. Buy when everyone else is selling. Well, here is your chance.

In all honestly, this is a great time to buy; if not for the low interest rates or high inventory on houses right now, purchase for the sense of ownership or the property tax deductions! With all the negative perspectives on the housing market, look at all the positive that there is to be said as well, you may just come out ahead!

*Source: Thomas Worman TJW Homes