WHY PURCHASE A HOME NOW ??
1. FHA Mortgage Insurance Premiums are going up again. In somewhat of a surprise announcement, As of April 18 that will increase to 1.15% of the loan amount. This will add about $40 to the payment on a loan of $200,000. So this will decrease the buying power of your clients.
2. It seems inevitable that the Lending (and therefore Real Estate) industry, will be going though some bumpy times ahead. I can assure you that based on what I have read and heard, rates will be going up and so will down payments. Prepare for interest rates to go up as well as pricing of homes to continue happening over the next few years. We have already seen this happening. I encourage you to buy now or the sweet deals may go away and most definitely you will pay more for less of a home than you can buy right now.
Speaking of rentals, Maybe this news is causing you to think about getting into the investment property realm. but you don't have a clue how to get going in that part of the market. My husband and I have been purchasing rentals that cash flow, and we are very excited about this. If you want a Free Guide to Colorado Real Estate Investing ( 154 page book written by Top Notch Colorado Real Estate Investors) and/or a discussion with me about what Lee and I are doing please call or email me. Denise Wambsganss – Your Castle Real Estate – REALTOR – 303-880-8771 firstname.lastname@example.org