If you’ve been sitting on the real estate fence waiting to see where the housing market heads, believe it or not, right now might just be the PERFECT time to buy a new Fort Mill SC home.
Here are 5 reasons why:
1. The governments $8,000 first time home buyers tax credit is set to expire on Dec. 1st. That means you’ve got to actually close on your new home. And because it typically takes at least 30 days to go from contract to close, you need to start taking action RIGHT NOW.
2. Believe it or not, there is some 100% financing programs still available. Now, these programs come with many more requirements and restrictions than similar programs that were available previously, but that doesn’t mean you can’t find them anymore. Just be sure to shop around with lenders as some may offer different programs than others.
3. Everything is on clearance. Home sellers know this is a buyers market because many homes are selling at or below the original purchase price. There are many short sales and foreclosures available in the Fort Mill SC area, which means you can now get twice the home for half the price. There really are some amazing deals available IF you have time on your side and a knowledgeable agent.
4. Interest rates may never be this low again. As the economy improves, interest rates will undoubtedly rise and if you don’t act soon you may miss the opportunity. Don’t be one that says “if I had only…”! The best thing to do is to find one of the many free mortgage calculators on the web and play with the numbers. You will find your mortgage monthly payment goes up much quicker with interest rates than if the house price drops a few thousand
5. Local builder incentives are growing. Because the inventory of homes available is growing, builders are willing to customize new homes for a fraction of what was available in the past. If you can’t find what you’re looking for in the inventory of pre-built home, look at local builders for the many build-to-suit options available.
If you’re looking to purchase a new home in the Fort Mill SC in spite of the current economy, this really is a great time to take action. These five reasons are just a few of the many why right now might be your best time to take action!
Filed under Carolina Real Estate, Fort Mill SC, Home Buyers, Interest Rates by 
Even as the turbulent real estate market flips and flops, trying to make up its mind which direction it wants to go, there are still plenty of people either putting their homes up for sale or are biting the bullet and purchasing their new dream home.
If you’re on the fence about whether or not you should go ahead and purchase your new dream home in spite of the current economic conditions, here are 3 reasons why it might just be the perfect time to buy a home:
- You want to move up to a more expensive home. We’re most definitely in a buyer’s market right now here in the Rock Hill SC and Fort Mill SC area, so if you’ve had your eye on a more expensive home, now is definitely the time to act. I wouldn’t expect home prices to come up any time soon, but I also wouldn’t expect them to drop much more than where they’re at. That being said, you might not be able to get that dream home of yours at such a steal-of-a-price ever again!
- It’s a buyer’s market, plain and simple. If you’re not currently tied to a property or don’t have to worry about unloading your current home, then you’re definitely in the driver’s seat. Many home sellers are concerned about even getting a ‘fair’ offer for their homes, which plays to your advantage. This kind of market allows you to dictate more of the terms of the sale and in many cases, the seller is much more willing to listen.
- Interest rates are still relatively low. There’s been a lot made about how tough the loan market is these days, but in reality, if you have decent credit, can put down a solid down payment, and are serious about buying a home there’s absolutely NO REASON why you shouldn’t expect to get a good loan. In fact, rates are still extremely low when compared to historical averages and when you can lock in a good rate, you’ll be able to enjoy it for the life of the loan, no matter what rates do.
So, if you’ve considered making the leap and purchasing a new house in the Rock Hill SC or Fort Mill SC area, now is definitely a great time to act. We’ve been fortunate in that the real estate market has stayed relatively strong when compared to other areas of the country and with the advantages you hold as a home buyer, the time couldn’t be any better to take action and buy your dream home!
Filed under Buy Your Dream House, Carolina Real Estate, Fort Mill SC, Home Buyers, Interest Rates, Market Trends, Mortgage Rates, Rock Hill SC by
In order to help stimulate the economy, many experts and analysts are anticipating another interest rate cut by the Federal Reserve Bank when they meet tomorrow.
Filed under Carolina Business News, Interest Rates by
Have you been listening to the news at all today? Have you read about the proposed $700B government bail out of Wall Street?
To be completely honest, I’m not sure what to make about Washington climbing into bed with business, especially at this magnitude. Especially if it’s my tax dollars we’re talking about here.
Of course, according to the Secretary of the Treasury and the head of the Federal Reserve are both saying this bail out is necessary to keep things afloat, I wonder how smart it is to be making such huge promises to the folks that got us in this mess to begin with.
So, what’s your take on the issue? How do you feel about the government taking $700B it doesn’t have and giving it to Wall Street in order to fix this financial mess?
Go ahead and leave your thoughts below in the comment section. I’d love to hear what you have to say about it!
Filed under Carolina Business News, Interest Rates, Mortgage Rates, Opinions by
If you’ve been paying attention to the news at all then you saw the big news from the financial markets that Lehman Brothers filed for bankruptcy and Merrill Lynch agreed to be bought by Bank of America, headquartered here locally in Charlotte NC, for some $50B dollars. On top of that, the stock market tumbled close to 500 points today sparking many to ask the question, is this as bad as it gets?
Well, I’m certainly no expert when it comes to the financial markets, but just based on what I’ve read and heard, I’d venture a guess that this isn’t rock bottom just yet. According to an article I read on MSNBC.com,the answer to how many more banks are going to fall flat on their face because of questionable management practices is dependent on 2 questions.
“First: When will home prices stop falling? The value of trillions of dollars of assets held by big investors — both here and around the world — is pegged to the underlying value of the real estate on which those assets are based. Every quarter that home prices fall, those assets have to be marked down further.
Second: When will the foreclosure rate stop rising and stabilize? As of the end of June, some 9 percent of all Americans holding a mortgage were either late on their monthly payments or in foreclosure. Those foreclosures add to the backlog of bank-owned properties that go onto the market, putting further downward pressure on home prices.”
It certainly makes for a precarious situation, but that doesn’t mean it’s time to pack up and move to a cave in the middle of nowhere!
Fortunately for us here in the Rock Hill SC or Fort Mill SC market, the housing market is still strong. Yes, there are some bargain properties out there, but that doesn’t mean EVERYTHING’S going for rock-bottom prices.
If you’re looking to sell your Rock Hill SC or Fort Mill SC home, you can still get a good price for it. You just need to be certain you price your home to sell and not simply to negotiate. Many people make the mistake of thinking if they list their house higher thinking they’ll be able to negotiate it down. Unfortunately, it rarely happens this way as people see just the ‘too-high’ price and don’t even make an offer.
If you want to sell your home quickly AND for top dollar is this unsteady market, it’s critical that you price your house to move. If you’re not sure what that price is, I’d be more than happy to provide a Comparative Market Analysis to help you decide if now’s the right time to sell your Rock Hill SC area house or not!
And stay tuned to this blog because this week I’ll be sharing more tips for buying OR selling your dream Rock Hill SC, Fort Mill SC, Tega Cay SC, York SC, or Lancaster SC home in this turbulent financial marketplace.
