6 Reasons to buy a Bellingham Home

Six reasons to buy a Bellingham home this spring!

1. Inventory: We have the biggest selection of homes and condominiums that most buyers have ever seen. Buyers now have the opportunity to shop hundreds of properties to find the perfect home where as only 5 years ago they may of only had a few choices to choose from.

2. Prices: In January 2009, average home prices in the United States were similar levels to what they were in late 2003.

3. Interest Rates: Historically low interest rates are making mortgages more affordable than ever. If you could afford a $200,000 home loan with a 6.5% interest rate then today at our current interest rates you can now afford a $240,000 home for the same monthly payment. Buyers are getting 20% more purchasing power now than they had only 6 months ago.

4. $8000 Tax Credit: First time home buyers can purchase a home and receive up to $8000 back on their tax return just for buying a home. It's like getting paid to invest in real estate.

5. Loan Programs: Buyers can purchase a home with next to nothing out of their pocket because of government approved loan programs. Zero down loan programs are still available for buyers with credit scores starting in the low to mid 600's.

6. Foreclosures - Short Sales - Bank Owned Properties: Buyers are able to purchase homes 25% under last appraised values. If you are looking for a good deal there has never been a better opportunity.

These factors are creating the perfect storm for the first time home buyer. Affordability is at an all time high, interest rates are low, and buyers have many choices. Don't be one of those buyer who will be driving by properties in a few years saying "If I would of only bought that home in 2009!" For more information on reasons to buy now, contact your local Realtor!

For more information visit my Bellingham Real Estate website!!