Is your glass half empty or half full?
It seems that most Americans find little reason to be optimistic in the current economy. Homeowners have been watching the value of their properties tumble downward for the past couple of years, and are wondering where it will end. It is common knowledge that many have lost their homes because a bad economy has left them unable to meet mortgage commitments.
On the flip side, the glass is more than half full for people thinking about buying their first home. Don’t wonder about it anymore. There never has been and never will be a better time to purchase property. Home prices are not expected to go lower. The time is right now for first time homebuyers! We are seeing the lowest real estate prices of our generation and some of the greatest buying incentives of our time. The government wants us to buy homes, and makes it easier and more affordable than ever to do so!
Mortgage rates are at an all time low. First time homebuyers are entitled to an $8,000 tax credit. Down payment requirements are low for government-supported loans. Several finance programs assist with the down payment. Several Finance programs are available with no down payment. This is a crossroads for the “half empty” folks and the “half full” folks. Property values are not expected to go much lower, so current homeowners can start to recover some financial stability. So new homeowners can, and should, take advantage of the low prices and government loan programs to become property owners at this opportune time.
If you rent, you could reduce your overall housing costs and maybe qualify for an $8,000.00 tax credit at the same time. If you’re an investor you really want to be in at the bottom then the time to start is today if not yesterday. If you are looking for a larger home here is an example, my niece has a 3,100 sq foot home under contract for $130,000.00 right now and it’s financed 100% by the USDA-Rural Development financing program. Yes, you can save your down payment with the USDA-Rural Development program. And she qualified for the $8,000.00 tax credit.
Your professional realtor is the one to help you find the right home and the best financial assistance available. If you have rented and your lease is up in the next few months it’s time to look at first time home buyer programs.
With any luck at all you should be able to buy the home you though you could never afford but can. Help stimulate the economy and build your community. Be a part of the solution.
Richard Bonn is the owner of Awesome Web Marketing. For more information on Richard please visit http://www.First-Time-Home-Buyer-Guide.info
[tags]first time home buyer programs, first time home buyer incentives, first time home buyer government,[/tags]
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