WDH Nationwide Mortgages Releases Its Thoughts on Why Now is a Good Time to Buy a New Home
New and used home prices have stabilized, interest rates have fallen, real estate has historically been one of the best investments, and this next year should present a good buying opportunity.
O Fallon, IL, January 04, 2008 --(PR.com)-- In most locations around the country, developers are in the process of reducing their supply of unsold new homes and recognizing that 2008 will not be as vibrant a year as in the recent past. Most developers will be setting their goals far more conservatively than in previous years. As a result, they will buy fewer lots and start fewer homes in order to avoid having a standing inventory. What does this mean for the person looking to buy a new home? New and used home prices have stabilized, interest rates have fallen, real estate has historically been one of the best investments, and this next year might present a good buying opportunity.
The resale market was active in 2007 with more than 400,000 homes sold in California alone. There is no reason to believe that 2008 will not provide more of the same resulting in the opportunity for existing home owners to trade up into a new home, for renters to buy their first home or for investors to continue to purchase, rehab and sell or rent homes.
No one knows what interest rates will be in the future, but as of the end of 2007 they were once again nearing an all-time low. As of January 4, 2008, the average rate for a 30 year FRM was 6.42%; for a 15 year FRM 5.95% and a 1 year ARM was 6.08%. With the myriad of different loan types available for each buyer’s needs, interest rates will vary, so shop around. WDH Nationwide Mortgages provides information on their web page for prospective home buyers to learn more about the types of loans available for potential buyers.
As an investment opportunity, looking at the long-term history of stocks and bonds and real estate, it can be said without refute that owning a home is the most certain way one can accumulate long-term wealth. It’s amazingly dependable compared to other investing opportunities. And, better yet, you get to enjoy the benefits of living in this investment. Prices have stabilized and this next year might present a good buying opportunity.
There really is no reason to wait to buy a new home. WDH Nationwide Mortgages believes that nothing will change in the economy in the next year that would dictate a “wait and see” attitude. Waiting may only result in rising prices and rising interest rates. If one of your resolutions is to buy a new home, refinance your home, or consolidate your debt, 2008 could be among the best times to do any of these. Get pre-qualified at http://www.wdhnationwidemortgages.com
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The resale market was active in 2007 with more than 400,000 homes sold in California alone. There is no reason to believe that 2008 will not provide more of the same resulting in the opportunity for existing home owners to trade up into a new home, for renters to buy their first home or for investors to continue to purchase, rehab and sell or rent homes.
No one knows what interest rates will be in the future, but as of the end of 2007 they were once again nearing an all-time low. As of January 4, 2008, the average rate for a 30 year FRM was 6.42%; for a 15 year FRM 5.95% and a 1 year ARM was 6.08%. With the myriad of different loan types available for each buyer’s needs, interest rates will vary, so shop around. WDH Nationwide Mortgages provides information on their web page for prospective home buyers to learn more about the types of loans available for potential buyers.
As an investment opportunity, looking at the long-term history of stocks and bonds and real estate, it can be said without refute that owning a home is the most certain way one can accumulate long-term wealth. It’s amazingly dependable compared to other investing opportunities. And, better yet, you get to enjoy the benefits of living in this investment. Prices have stabilized and this next year might present a good buying opportunity.
There really is no reason to wait to buy a new home. WDH Nationwide Mortgages believes that nothing will change in the economy in the next year that would dictate a “wait and see” attitude. Waiting may only result in rising prices and rising interest rates. If one of your resolutions is to buy a new home, refinance your home, or consolidate your debt, 2008 could be among the best times to do any of these. Get pre-qualified at http://www.wdhnationwidemortgages.com
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Contact
WDH Nationwide Mortgages
Dan Harris
618-628-2944
http://www.wdhnationwidemortgages.com
Dan Harris
618-628-2944
http://www.wdhnationwidemortgages.com
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