If you are stuck on the fence trying to decide if now is the best time to buy, I have one question for you. Are you buying a house to live in that will be a home, or are you buying a house as an investment? While I believe that now is a great time to buy for either scenario, the argument is even stronger for individuals and families serching for a home.
If you are interested in buying a house strictly as an investment, then now may or may not be the best time to purchase a home. However, many experts are suggesting that real estate is a great investment in today’s retirement plan. The expected return on a home purchased as an investment today that will be sold in ten years can be greater than the expected return on stocks and bonds. There is no guarantee on any investment, but real estate investments do look appealing in the current market.
No one really knows what the future holds for the housing market. Prices may continue to drop, although I really believe they have hit the bottom and are trending up. However, even IF prices do drop slightly, this isn’t a huge factor if you are purchasing a home to live in for several years. Your monthly housing expense will be lower if you purchase a new home over renting a comparable home.
Our current real estate market is truly historical and is referred to as the Golden Era of Homeownership by the National Association of Realtors. Home prices have never been more affordable! There are some GREAT deals on Murfreesboro Tennessee homes for sale right now. Not only are home prices reflecting historical affordability, the mortgage rates are also at all time lows! Never before have mortgage rates been as low as they are today. Add the historically low home prices with the historically low mortgage rates and you have the ultimate opportunity for purchasing a new home.
Right now the current real estate market in Murfreesboro Tennessee favors buyers. Potential home buyers have a large selection of homes to choose from. However, inventory of available homes has dropped and home sales are up. Less supply and more demand means home prices will trend up. The market is changing!
If you are searching for a new Murfreesboro TN home and find one that you like, I encourage you to act now and make an offer! History tells us that homes will appreciate in value over time. Home prices have taken a substantial drop in value, but now appear to be stabilized and ready to make a steady upward movement. By buying now, you will take advantage of a larger selection of homes, lower home prices, and lock in a low fixed rate mortgage. And even if home prices dropped slightly in the future, you have still secured a place to call home!
A comfortable home provides a great source of happiness for you and your family!
Low home prices, low mortgage rates, AND a tax deduction every year for interest paid on your mortgage! Those are three great reasons that should encourage you to consider buying a new home now!
When you work with a knowledgeable Realtor who is committed to protecting your investments, much of the stress associated with buying a home can be alleviated. Don’t let purchasing a new home or investing in real estate scare you! Work with a Realtor who can show you the market statistics, pricing trends, inventory of homes and rate of absorption. Use this information to make a wise & financially sound decision.
It’s always a great time to purchase a house that you love and will call home!
If you are ready to buy or sell a Murfreesboro TN home, please contact me at 615-566-3789! Let me help you use the proven power of technology to get the results YOU want!