IT'S TIME TO BUY...TWO IF YOU CAN!

I have been preaching this to my buyers for some time.  It is time to buy, especially now that interest rates are at 4.5% on a 30-year fixed loan!  Here are two articles that do a better job verbalizing my opinion.

 If You Don't Buy a House Now, You're Stupid or Broke

Granted, this is an old article that ran in Business Week.  However, interest rates are even lower now, so the point is even stronger.  This article does the math for you to illustrate the point.  Every  .25% change in interest rates is equivalent to approximately $6,000 for every $100,000 borrowed over the course of 30 years.  Thus, you pay approximately $50,000 more for a $400,000 loan if the interest rates tick up .50%.  Do you get it now?

Enough of the Doom and Gloom about Homeownership 

This piece ran recently in the Wall Street Journal.  The only thing I would add is, it is not a buyer's market in sought after areas.  We are seeing multiple offers and a lack of inventory because homes are selling so quickly.  However, there are a lot of areas where you can still get GREAT deals.  If you can buy, buy two!