Why now may be the best time to buy a home in the Durham.
Interest rates.
Interest rates have stopped going down (an indicator that they may start going up again). Interest rates are historically low right now, so if you were waiting for them to go any lower, your wait might just be over. Lock in that low rate!
Renting.
Why give your hard earned money over to someone else? Every time you make a mortgage payment, your investing in your future, your kids future and your retirement! If you don't think you qualify, it's probably because you haven't tried! They ran your credit when you rented your home, didn't they? Chances are you may qualify without even knowing it!
Tax benefits.
This is one of the most overlooked benefits of home ownership. A home owner can deduct the interest paid on a mortgage, real property taxes, personal property taxes, discount points paid on a loan, and loan origination fees! You can deduct up to two properties (primary residence & vacation home). Home investors can deduct more.
"I heard on the news we're in a recession."
Unfortunately, the news does not give local statistics. All they can talk about is nationwide foreclosures and a sinking economy. Take a look around you. The Triangle is experiencing growth and has been for some time.
"Its a buyer's market and housing prices continue to decline."
This may be true in other parts of the country but the Triangle has not experienced a housing price decline! Our market has always had realistic appreciation, thanks in part to sale prices always reflecting true market value.
Nogui Aramburo is a Realtor in Durham, NC
www.realestateinthetriangle.com
Nogui Aramburo
Real Estate Broker / Licensed Assistant
Linda Craft & Team, REALTORS
www.lindacraft.com
(919) 771 3609
