You have probably heard this from many Real Estate Agents, Lenders, ect. You are probably thinking that these professionals are just saying this because they want to sell you a house, right? Well, look at these facts and then you can decide for yourself!
In a recent article by Dr. Steve Sjuggerud, from The Daily Wealth, he states that it is the best time in history to purchase a home, for a couple of reasons. One, mortgage rates are the lowest since the 1900's! Yes, I said 1900! Here is the data from Global Financial Data: In 1900 the rates were just above 5.00%. Today they are around 4.35%. The only other time in history it came close to today's rates was just after WWII. During that time when rates hit the bottom is when the greatest postwar boom in housing prices occurred.
Homes are more affordable than ever.
Looking at the 40-year history of the Housing Affordability Index, houses are more affordable than they've ever been. This index takes into consideration; income, housing prices and mortgage rates.
So, based on these facts, isn't it safe to say that NOW is the best time to buy a home? If you need help with this, you can contact me, of course!
Washington State Attorney General Rob McKenna held a press release today that addresses the foreclosure processes that may not have been followed according to state law. This does not apply to foreclosures for sale or pending. He asked 52 lenders to review all foreclosures and suspend any questionable foreclosures. Click on link for the full press release Read the news release from the Attorney General. They also announced today there are additional efforts to address foreclosure-related problems in Washington state. Click here for the announcement Read this announcement.
The office wants to make sure buyers who have purchased a foreclosed home are not at risk. Buyers are protected by Title Insurance purchased on the home. If you are a buyer that has purchased a foreclosed home or are in the market to purchase a foreclosure, please call us anytime so we can answer your questions or direct you to someone who can.
Michelle Marlahan
Bella Casa Team
360-907-7707
 |
|
|
As a Team Leader with the Bella Casa Team, I strive not only to meet our client's expectations, but exceed them. Knowledge is power, which is why we continue to education ourselves and our clients.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
