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This time may be your best
opportunity market in years. Mortgage interest rates
are low and prices in Illinois are still holding
strong. Over time no investment comes close to real
estate so now is a great time to buy, sell or
invest.
All real estate is local. What’s happening in
your local market is all that matters. Ask your
local REALTOR® what’s going on in your market. They
are the experts in pricing, buying and selling
patterns, and demand.
Don’t be scared off by stories about a “credit
crunch.” Conventional loans are available for credit-worthy
buyers seeking these types of mortgages.
And mortgage interest rates remain at
historically low levels.
Is it a good time to buy?
People will always need to buy or sell a home
whether a move is job-related or you are ready to
downsize or expand.
The national housing market has received a lot of
negative press lately with stories of mortgage
market tightening and increasing foreclosures. But
for the average person with good credit, traditional
financing is readily available.
It’s important to do some homework before you buy
to see what you can afford and what your financing
options are. Today, mortgage interest rates are well
below their all-time high of over 18 percent in the
1980s. People bought homes then and they can buy
them now.
Housing is your best long-term investment
Homeowners who are in it
for the long-term are coming out well ahead.
Here’s why. Because of the power of leveraging,
a $10,000 down payment on a typically priced
home in the United States at a typical home
price appreciation of 5 percent will return
$110,000 after 10 years. The same $10,000
invested in the stock market appreciating at 10
percent annual increases will result in $23,600.
Source:
National Association of REALTORS®
Why wait? It’s a good time to buy and grab
your piece of the American Dream.
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