Looking Out From the Garage

Wayback Wednesday... Is NOW the Time to Buy?

National Association of Realtors streetscape
Image by dannyfowler via Flickr

Listening to the NAR (National Association of Realtors®, it is ALWAYS the right time to buy.  If the market is going up, they pound the "buy the rising market" drum.  If the market is going down, they beat on the "buy into value" drum.  Frankly, I'm tired of it, and they have killed a massive amount of credibility by constantly trying to spin reality for "our" perceived benefit.

A couple of years ago this week, I was on Social Media Edge, on Blog Talk Radio, talking with Ken Cook about this very thing.  I've had my strong opinions about this for quite a while.  And, while for some folks, it is a GREAT time to buy, for others it isn't.  I haven't ever been shy about saying it, even when I have taken flak from my peers for not "cheerleading the market".

On Social Media Edge, we talked for about 20 minutes about this.  Here is a link to the original post, and it has links to the Blog Talk Radio site, as well as a podcast of the broadcast.  Stop in, check it out.

If you are wondering if NOW is the time for you to buy, give Lane a call.  678-200-5895.

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0 comments • Lane Bailey - REALTOR & Car Guy • December 08 2010 09:13PM

Will the 4.5% 30 year fixed mortgage do the trick?

Something leaked...  We don't know who leaked it, but there is a plan being considered by the Treasury Department to give a boost to home sales.  Basically, the plan is for the Treasury to push rates down to a target 4.5% for a 30 year fixed mortgage.

From what I am reading around the internet, it would only be for purchases of new or existing homes, not for refis of current loans.

So, let's do a little stacking here...

  • Ken over at Novation has some 95/5 programs available... so, 100% financing - check
  • The government is offering a $7500 refundable tax credit for first time home buyers... so, cash for expenses - check
  • Treasury floating the idea of 4.5% 30 year fixed mortgages... so, butt-kickin' mortgage rate - almost check
  • I have come across some properties that are offering closing cost money for owner/occupants... so, closing costs paid to reduce cash at closing - check
  • I am finding properties in Lilburn and the surrounding areas that are well below comps... so, well priced deals - check

Now, we don't know that the Treasury  going to work out the 4.5% mortgage deals yet, but we have everything else checked off... and if the 4.5% mortgages DO come through, the best deals are going to disappear even faster.  Already I am seeing good deals go under contract is a couple of weeks or less.

So, if you are thinking of buying a home, especially if you are a first time home buyer, we might be hitting a great season to do just that.

Give me a call and let's start your home search.  Ken can get you qualified and we can get you into a home before the Superbowl... maybe even in time for a New Year's Party!

 

from LaneBailey.com

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Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey. 

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6 comments • Lane Bailey - REALTOR & Car Guy • December 04 2008 10:01PM