subject: Why Buying a Home is a Good Idea in this Market [print this page] Why Buying a Home is a Good Idea in this Market
There have been many economic experts that have said some very negative things about the current state of the economy. While the economy has taken a large hit, there are some huge upsides to
what has happened. One of those upsides is how great of a market it is for those that are looking to buy a home. Let's go over some of the reasons why this is definitely the case.
The biggest reason is that properties have fallen in value over the last few years. Places like California, Las Vega, and other large cities have seen huge drops in property prices. While this is horrible for the people who own these homes, it is absolutely fantastic for those that are looking to buy a property. This means that a property that was worth $400,000 dollars in San Diego is probably worth about $200,000. This huge value swing is helping those that are in a position to buy to get way more house than the money than ever before. This means that families can get a bigger home, with more bedrooms and yard space than they would have been able to get for the same price 3 or 4 years ago.
The next reason why it is a great idea to buy in this market is because of all the foreclosures that have been happening. A foreclosure happens when an owner of a home cannot make their mortgage payments. When this happens, the bank evicts the tenants and the home becomes the sole property of the bank. The bank then will sell these homes on auctions for pennies on the dollar just to be able to unload them from their financial books. This means that homes that are nice and big, will sell for a fraction of the price to the highest bidder. These auctions that sell foreclosures are some of the best sources to get beautiful big homes for insanely low prices.
If you are interested in looking into these types of properties, we can help you to purchase this kind of property with the expertise that they have regarding the foreclosure market. Log on to http://HRRealtyPros.com to search all types of available properties (including foreclosures and bank owned homes).
As you can see, now has never been a better time to buy a home. If you can qualify for a home loan, now is the time to buy as the market has seemed to reach the absolute bottom. This means that from here on out, prices and loan rates will continue to go up, so make sure to hit the iron while it is hot and buy a home in today's market.
