Don’t Miss Out on the Buyers Market

Investing in a new home has long been a great personal investment and the same holds true today.  In fact, it can be argued that now is an amazing time to consider buying a new home.  Interest rates are extremely low and falling even further, a great selection of new and used homes is available to choose from, and home prices have become more affordable than ever.  There is no doubt that it is a buyer’s market. The conditions that make now a great time to buy are sure to change, however, so don’t miss this opportunity!

 

GREAT RATES

The Federal Reserve recently took a key interest rate to nearly zero percent.  It was widely anticipated that the Fed would cut the rate by about a half percentage point, but this bold move took many by surprise.  Yields on 10 year Treasury Bonds, which have traditionally been a good indicator of future mortgage rates, plummeted as a result of the rate cut.  Although mortgage rates were already near historic lows, downward movement can already been seen.  In fact, many banks have begun advertising rates at or below 5% on traditional 30 year fixed rate mortgages.  According to Freddie Mac, mortgage rates are at a 37-year low! If there were not already enough great reasons for Americans to consider home ownership, plummeting interest rates may provide the extra incentive needed to get buyers off the fence.  You may be tempted to wait and see if interest rates will drop lower, but be warned that trying to time the bottom is a dangerous game and rates are likely to snap back quicker than you might expect.  Time is certainly limited, so don’t miss this opportunity. 

 

GREAT PRICES

Securing a lower interest rate should be seen as icing on the cake because new homes are already being offered at unbelievable prices.  Never mind all of the promotions and incentives that builders are offering these days, new homes prices simply cannot be beat.  You can buy a new home and lot package with a great selection of standard features for as low as $170,000 – that’s under $900 per month for principle and interest!  It has been said that the housing industry was the first place that showed weakness during the current economic downturn and it is likely that housing will be the first to bounce back when the market regains its strength.  Fewer houses have been built this year than at any other time since 1959 (when the country’s population was half of what it is today), so you can expect to see the supply of available houses greatly reduced as demand strengthens.  When this happens, house prices will begin to creep up and the great deals that are available today will disappear.  Don’t miss the boat!

 

GREAT SELECTION

There is no doubt that the market is over supplied with available new and used housing right now.  What does this mean for you as a consumer?  Great selection.  Like the new home market, the existing home market features houses of many different shapes, sizes and styles for you to choose from.  The problem with buying a used home, however, is that it has already been lived in, remodeled, and decorated by somebody else.  As a result, you may have more difficulty finding a used house that fits your style and needs than if you were to select a new home.  With a new home, you’ll be able to select your own colors, carpeting, cabinetry, and even design options without having to worry about remodeling or undoing somebody else’s vision.  With more houses than ever to choose from, you’re sure to find a home – new or used – that works for you. 

 

NEW HOMES ARE BETTER

We know that now is a great time to buy a new home so the question is whether you should buy a new home or an existing home.  Simply put, homes built today are simply better than older homes.  Engineering has improved and technologies have become available that make new homes much more efficient than older homes.  New homes utilize better insulation, have less air infiltration, include more efficient heating and cooling systems, and make better use of space.  At a time when energy prices fluctuate greatly, it is important to have a home that will save you money by using less energy.  Additionally, the products used to build new homes are much safer than those used in older homes (think lead paint, asbestos, etc).  Not only will your family be more comfortable in a new home, you can rest assured that they’ll also be safer and healthier.  The best part of a newly built home is that everything is new!  No need to worry about unexpected break-downs or expensive repairs.  In fact, most new homes even come with a warranty!  So whether you are a first-time homebuyer who is currently renting or a move-up buyer that has always dreamed of owning a new home, now is the time to make the move.  You’ll enjoy the peace of mind that comes with owning an energy-efficient home that is safe for you and your family and you’ll surely appreciate all of the extra free time that comes with owning a low-maintenance home.

 

To learn more about new homes in Wisconsin, please visit www.brookstonehomes.com