House payments under $500? It’s happening more and more often these days.

It used to be that if a caller to the real estate company indicated that they wished to purchase a three bedroom, two bath home and keep the monthly payment below five hundred dollars we used to ask this question:

“What kind of tires do you want on that mobile home you just described to me?”

And that was back in the mid 1980s! Now, in the year 2009 as incredible as it seems, the combination of low real estate prices combined with excellent mortgage interest rates have many homebuyers purchasing property with mortgage payments at or below $500 per month.

Even more remarkable is that these purchasers are buying homes at or below ONE YEAR’s equivalent of their annual income. We have even sold a few houses to individuals who paid more for the most recent vehicle they purchased.

The bottom line is this: real property has never been more affordable. Anyone that is currently renting that is in a position to purchase should take advantage of this window of opportunity.

Because it will not remain open forever!