Is Now the Right Time to Buy a Home?
If you’re looking for a home right now, chances are that you’ve had doubts regarding whether or not this is the right time to buy. Well, here are some factors that should convince you that it certainly is the time to buy a home right now:
The job market is stabilizing.
It’s a fact – the job market has certainly stabilized. Many areas are seeing rapid job growth, especially in fields with high demands such as technology and health care. When you have a larger chance of having a stable income, your chances at being able to afford a home are enormous.
Home prices are falling.
Due to the large amount of foreclosures that are currently for sale, housing prices are continuing to fall on a daily basis. Lower prices are being accepted by sellers just so they can quickly get their house off the market.
Cities are becoming stabilized.
Many cities are showing a trend of becoming stabilized, and the trend seems to be national. This is due to more and more people residing in their homes for longer periods of time.
Mortgage rates are still low.
Even though mortgage rates have been rising for the past few months, they are still at historical national lows and should be taken advantage of. You should also act now to avoid your rates from going any higher.
Good credit is rewarded.
If you have a credit score that is above 600 or even above 700, you will certainly be in high demand with lenders. Make sure you shop around diligently, so you find the best lender and the best rate for you.