Murfreesboro TN Homes: Murfreesboro TN Homes For Sale - Where Have All The Buyers Gone?

Murfreesboro TN Homes For Sale - Where Have All The Buyers Gone?

Murfreesboro TN home prices are down.  Mortgages rates have never been lower.   More and more financial experts are saying BUY NOW!   

Trulia - Rent vs. Buy Index  - BUY in the Murfreesboro TN area!

FORBES MAGAZINE - BUYERS DO BETTER THAN RENTERS!

CBS Money Magazine - NOW is a Good Time to Buy!

CNN Money - Rent vs. Buy?  BUYING WINS!

But the Murfreesboro TN real estate market is still a buyer's market in most areas as many people are opting to rent instead of buy!  Maybe Peter, Paul and Mary should record "Where have all the buyer’s gone?"  


 

Fear is keeping many buyers from taking the steps to become home owners.  They are accepting their role as renters and waiting, and waiting, and waiting.    They are scared of their future employment, scared of another recession, scared to make a mortgage commitment,  and scared home prices will continue to drop.


These are legitimate concerns.  However, I encourage people to look past murfreesboro tn real estatethese fears which are not facts, but false beliefs.  For most people, their monthly budget has to include a housing expense.  After all, we have to live somewhere whether we rent or own!  Right now, real estate in Murfreesboro TN favors buying over renting.  Your monthly housing expense will be lower if you purchase your own home vs. renting.  

According to CNN Money Magazine, it makes more financial sense to buy if their rent to buy formula is15 or below.  The basic formula takes the purchase price and divides it by the estimated annual rent of a similar home.  All homes are unique, but in most portions of Murfreesboro, this rate is closer to 10!  You can read more and see examples in my former blog posts about the Murfreesboro TN Real Estate Market Recovery and The Golden Era of Homeownership.   

I've referenced articles where experts and financial wizards make a strong case for buying a home now.  Here are my top financial reasons why renters should get over their fear and purchase a new home:

You will never be debt free if you always rent!  Murfreesboro TN Real EstateYou will always have a monthly housing expense (debt) unless you purchase your own home.  Even though the market may go up and down, if you buy a home, you will eventually be debt free...which is a great goal for retirement!   

Your monthly payment including taxes and insurance will be LESS!   In most cases, if you buy your own home instead of rent in Murfreesboro your monthly payment will be less.  See an earlier blog I wrote which gave some examples for homes in the $250,000-$275,00000 range.  In addition, you will have a locked in payment with no worries over future rent increases.  For more information and examples of rent vs. buying real estate in Murfreesboro TN, read my blog Crazy Like A Fox!

You will lock in your monthly housing expense!  Your principal and interest will never go up.  You have complete control over your monthly housing expense for years to come! According to one study renters are living beyond their means!  In 1960 only 24% of renters exceeded the recommended maximum of 30% of their pretax income for rent.  Compare that to 2009 when 25% of renters paid MORE THAN HALF of their income toward rent and utilities!  Rent has continued to increase since that time and continues to rise with the greater demand for rental homes.  The threat of rising home prices, mortgage rates, or rent rates are all eliminated when you purchase your own home. 

For home buyers willing to look past their fears, it can be a great time to buy a Murfreesboro home!  Don't miss out on this Golden Era of Homeownership!  The next song you hear may be, "Where Have All The Houses Gone!"

When you are ready to start the search for your new home, please contact Sherri Wellborn with Keller Williams at 615-566-3789!  Don’t let fear hold you back!


FIND ME ONLINE:

FACEBOOKLINKED INTWITTER

home search

Please visit:  SOLDONTN &  SherriWellborn.com 

Sherri Wellborn, Keller Williams Realty

Reliant Realty

640 Broadmor Blvd
Murfreesboro, TN 37129

615-566-3789 CELL

615-225-9600 Office

Comment balloon 7 commentsSherri Berry • October 12 2011 12:53PM

Comments

Sherri - I've been reading your older posts having just met you in the Rain and am so impressed by the content you consistently put out. Of course I subscribed!

To your point, fear is keeping people from looking at the facts: interest rates are at an all time low, there is more inventory than ever and great deal to be had. For first time buyers this is the time to get off the fence and buy....................or you may be very sorry you waited! Another excellent, well written post! Suggested!

Posted by Kristine Ginsberg, NJ Home Stager (Elite Staging and Redesign, LLC) about 7 years ago

Thank you so much Kristine!  I am so honored whenever someone likes my writing enough to subscribe to my blog!  

Real estate agents are usually the ones saying buy, buy, buy!  It should be a HUGE wake up call to people that so many different financial experts from all across the country are saying BUY now!  I like the way NAR refers to this as the Golden Era of Homeownership!  

Posted by Sherri Berry, Murfreesboro TN Homes & Real Estate (Reliant Realty, Murfreesboro) about 7 years ago

I suggested it also & did you place it in the contest??  If not, I definitely would! 

Of course in MIA we have a large corporation, that is really across the US, which not in good times & we are holding our breath....if people have to transfer....or have forbid be laid off (?)... 

The "reasons" to buy are excellent & terrific post!!  Thanks!!

Posted by Pam Hills, ASP/IAHSP- Stager Miami, FL, Creative Minds Innovatively At Work (Innovative Artistry) about 7 years ago

Hi Pam, thanks for your comments and for the suggest!  I really appreciate that!  I haven't put this in the contest yet but will make sure and add it now!  

Posted by Sherri Berry, Murfreesboro TN Homes & Real Estate (Reliant Realty, Murfreesboro) about 7 years ago

Good afternoon, Sherri. I think that you have made a lot of valid points to support the argument for folks to purchase...  

Posted by Michael Thornton, Nashville Area - Photography & Videography (RadnorLake Video) about 7 years ago

Thanks Michael!  I see you have a new picture uploaded!  Hope you have a great day!

Posted by Sherri Berry, Murfreesboro TN Homes & Real Estate (Reliant Realty, Murfreesboro) about 7 years ago

Hahaha, at first I thought it was a video of you singing. I thought, "is there anything this woman doesn't do?"  Probably not, but then I realized it was MaryAnn Faithful. :)

Excellent points, by the way. Have a great rest of your Thursday Sherri.

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) about 7 years ago

This blog does not allow anonymous comments