Do Your New Years Resolutions Include a New Home in Crofton or Odenton?

Savvy Crofton and Odenton renters are resolving to buy a home in 2009.

With prices and interest rates at their lowest point in recent years, it's hard to imagine any reason for renting other than unresolved credit issues.

If you haven't yet made a commitment to buy a home in 2009, here are my Top Ten Reasons for doing it now:

1. Pride of Ownership - You can decorate and landscape according to your own taste, on your own schedule.

2. Control of Your Own Destiny - No worries about the landlord renewing your lease or raising the rent.

3. Tax Benefits - Tax deductions for all interest and property taxes included in your mortgage payment, significantly reducing your effective monthly payment. And don't forget about the $7,500 tax credit on your 2009 federal income taxes return, provided you close before July 1, 2009.

4. More Options - Take advantage of the huge inventory of homes on the market now.

5, Less Competition - With a large inventory of homes and small number of buyers, chances are good that you won't find yourself in a bidding war for your dream home.

6. Stability - Home ownership indicates to your boss and people you supervise at work that you are here to stay.

7. Flexible home sellers - Motivated home sellers are making huge concessions in this market, including closing cost help, price adjustments, and inclusions.

8. Minimal down payment - FHA loans require only 3.5% down and permit you to accept closing cost help from the seller.

9. Rare opportunity - A unique market in which you have a rare opportunity to purchase your choice of bank-owned homes at bargain prices.

10.Low interest rate - In the 5% range for the first time in decades!

There is no shortage of rental apartments in Crofton and Odenton, as well as some privately owned homes for rent - yet it is hard to justify renting in a buyers' market. By definition, that means that economic conditions are more favorable to buyers than it is to sellers.

Contact me today to learn about the home buying process. I'll listen to your wants and needs, and work with you as long as it takes to find the right home and community for you.

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