Time to buy!
Wow! I am amazed at the Fed cutting interest rates yet again! In the last nine days the central bank has cut the rate at which they lend money to banks by 1.25%. This means that they are trying to increase borrowing and stimulate the lagging economy.
If a qualified buyer is looking to buy, now seems to be a great time. Why? There are three main reasons:
1. It will cost you less to borrow money at this time (1/30/2008) than it would have just 6 months ago. Consider a payment on a 200,000 loan at 5.5% vs. a 6.5% loan. At 5.5% the payment is $1135 per month vs. $1264 per month (these payments don't include taxes or insurance.)
2.Prices have come down from their historic highs, so first time buyers will find it is an attractive time to jump in the market.
3. With Increased Inventory comes a greater selection. Buyers will have more to choose from.
Additionally, you have greater negotiating power when sellers are competing with other listings for sale.
If you are looking for a new home feel free to use this link to search our MLS:
Or feel free to give me a call at 707-616-3456
email works too! andy@azalearealty.com
