My mentor Marshall Reddick has talked about an article by Forbes that came out recently, discussing nine reasons why now is a good time to buy. The current housing market has created a great opportunity for many home buyers and investors. This opportunity might not come around again for many years.


1. Lowest Home Prices in Years

2. Interest Rates at 5 Year Low. Forbes mentions that the 30 year fixed rates the lowest at 4.63%

3. Interest Rates will go up as economy recovers, which could be hundreds more in monthly payments.

4. Adjustable Rate Mortgages at Record Lows According to Forbes “Adjustable Rate Mortgages are also lower now, although there are risks that interest rates may increase over the life of the mortgage and the balloon payment due at the end of the mortgage life, usually three or five years, could be substantial.”

5. If you have less cash saved up want to buy a property then reason number 5 maybe important to you. Forbes suggests that “Low down payment financing through Federal Housing Administration –insured mortgages is available as an additional inducement to buy a house now.” As values in the market increase, more cash will be needed for a down payment.

6. It has become easier for potential buyers to qualify and barrow. Lenders are currently allowing buyers to acquire more debt then previously

7. because banks and lending institutions are offering no fee mortgages, which is lowering the cost of purchasing.

8. . Homebuilders are competing in the current market by offering buyers incentives to purchase new homes. Home builders are not the only ones trying to sell homes.

9. . Home owners are also throwing in incentives such as appliances, air conditioners, and even cash.

I thought this was some great information, I hope it helped you guys out.