What Are Good And Bad Reasons For Buying A Home Now?

Good reasons include declining home prices over the past four years and near-record-low mortgage interest rates.

Bad reasons include that home prices are likely to decline further in the next year. So why not just wait to get a better bargain?

Also, while mortgage interest rates are low, mortgage loans are difficult to obtain.

Bankrate.com says:

Low mortgage rates and declining home values make homeownership extremely affordable these days. But does that mean now is the right time to buy a home? Should you wait?
It depends on whom you ask, where you live and most important, on your situation.
Unfortunately, “nobody hits the gong when the market hits bottom,” says Jed Smith, managing director of quantitative research for the National Association of Realtors. But in many markets, it appears that home prices are close to bottoming out, he says.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
This entry was posted in mortgage and tagged , , , , , . Bookmark the permalink.