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Market Trends

You are in the midst of a buyers' market, there hasn't been a better time to buy in years!

Mortgage rates are at an all time low, sellers are motivated, owning a home is a great investment in your future, and can lead to many, many years of happy memories.

So why wait? It is a great time to buy Motivated Sellers and Mortgage rates are at an all time low, sellers are motivated, owning a home is a great investment in your
future, and can lead to many, many years of happy memories.

So why wait? It is a great time to buy Now is an ideal time to buy. In most markets affordability is high and there is an abundance of inventory. A modest recovery for existing-home sales was seen in 2009 and is expected to continue through 2010. There are many options out there for buyers and sellers who are willing to negotiate and work towards a win-win situation that works for both parties.

FHA Loans Are Available
There are many choices for buyers looking for mortgages. One option, FHA home loans, are a viable alternative for many first time buyers. The Federal Housing Administration (FHA) - which is part of the U.S. Department of Housing and Urban Development (HUD) - insures the loan, so your lender can offer you a better deal, including a low down payment and low closing costs.

The FHA single-family loan program is alive and well. As specialty mortgages have faded away, FHA is stepping in. In fact, the FHA market share is up to more than 30%, from just 6% in 2007. Find out about FHA and other loans, go to www.Hud.gov/buying/loans and www.REALTOR.org and do a search for Consumer Literacy.

HouseLogic Buying and Selling
HouseLogic.com Buying and Selling offers helpful information for buyers and sellers to ensure they make smart, confident decisions about their purchase or sale. Visit HouseLogic.com/buyandsell to learn more about everything from financing and showings to closing and moving.

Benefits of Ownership
Owning a home is the American dream. A home not only provides financial benefits but it also provides shelter and security to families.

Did you know that:

  • Home owners move less often and are more likely to vote and volunteer time for political and charitable causes than renters?
  • Children of homeowners tend to perform better in school and attain higher levels of education than children of parents who do not own a home?
  • Dollar for dollar, the rate of return on an individual's cash down payment on a house is substantial? Given the leverage in purchasing a home, the average return on a 5% down payment over 10 years is usually three to five times greater than stock market returns?
  • When you own a home you may be able to deduct the property taxes and mortgage interest from your income taxes?
  • In most cases the gains that you make when you sell your primary residence are tax free?

Mortgages are at Historically Low Rates 
For buyers who qualify, mortgage rates are near historical lows, less than 6% currently. According to data provided by Freddie Mac, rates averaged 9.2% during the past 30 years. Go to www.FreddieMac.com and view the Primary Mortgage Market Survey® for more information on the latest rates. In addition,
low interest rates, coupled with recent price declines, give people looking to upgrade a unique opportunity to take advantage of market conditions.

The Value of Your Investment
Real estate is a long-term investment. Home values could fall in some years, though, on average over the past 30 years, the median price of existing homes has increased about 6% every year. However, this is a national average and local markets vary widely. Thanks to the power of leverage, a homeowner's return on investment is even more impressive over time. Visit www.HousingMarketFacts.com to learn more.

Home Ownership is an Investment in Your Future
Home ownership is how many American families begin to accumulate wealth. Using the latest figures from the Federal Reserve Board's Survey of Consumer Finances, NAR estimates that as of 2008, a typical homeowner's net worth is 49 times that of a renter's. (Median net worth of $205,200 for owners versus $4,200 for renters.)

For more information on homebuying find the NAR Guide to Homebuying at www.Realtor.org/Store.

Talk to your REALTOR® today about helping you achieve the American dream