Sunday, February 21, 2010

It's a Great Time for First-Time Buyers

Don't let the sun set on this opportunity.

Three or four years ago skyrocketing housing prices had turned the American Dream into a fantasy for first-time home buyers.

People saved and saved and just when they thought they had enough money for a down payment, they would look up and see that prices had jumped again. Home ownership seemed out of their grasp.

The real estate slide has changed all that. Prices are down — way down — throughout the county and the country. In addition, interest rates have tumbled to record lows.

First-time buyers should be jumping up with the chance to realize their dream.

Among the advantages to buying over renting:

— Opportunity for appreciation: When housing prices rise, you get to go along for the ride.

— Tax deductions for mortgage interest: Renters don't get this write-off.

— An $8,000 tax credit: Anyone who is under contract by April 30 and closes by June 30, receives this credit.

— Hedge against inflation: A fixed-rated mortgage keeps monthly payments the same as opposed to rent payments that typically rise over time.

— Pride of ownership: How much more enjoyable is it to sit on the porch when it's YOUR porch, or host a barbeque in YOUR backyard.

Are you ready, willing and able to buy a home.

Now's the time to find out.

Contact Kirk Kenney: 619.920.2195 or