TIME magazine confirms it...

This is part of an email sent to me from Jim Weichert (President of Weichert, Realtors) that I thought was worth sharing...

(recent) TIME magazine article....

If you haven’t seen it, the article makes a case for why buyers should act now. We have been saying this for a long time, and now a major news magazine agrees that there might not be a better time than now to buy a home.

Some of the points the author Dan Kadlec makes are worthy of sharing:

· According to famed money manager Peter Lynch, one’s first investment, even above purchasing stocks, should be to buy a home. In his view, an owner-occupied home is nearly always profitable, even in a declining market.

· Interest rates are low, making it the ideal time for buyers to make a move. As the economy and real estate market recover, home prices and mortgage rates will rise making homes less affordable.

· Trying to time real estate might not pay off. Kadlec uses a great example: If you buy a home today for $218,900 with 20 percent down and a 5.5 percent 30-year fixed-rate mortgage, your monthly principal and interest will be $994.31. If you wait a year and purchase the house for less – $197,010 – but have to pay a 6 percent mortgage rate, your monthly payment would be $994.94. In the end, you would have saved nothing and wasted a year “living someplace you would rather not be.”

How more true could that be! The time is now, so get on the phone and give me a call!

Andi Thapa

for your Hoover, Alabama Real Estate Needs

(205) 602-4588