Rates continue to be at historic lows and let’s face it, any rate below 6% is considered to be outstanding. Especially when you combine it with housing prices that are at their lowest levels in 6 years. Home prices are beginning to stabilize and we are even seeing homes being sold in multiple offer scenarios.
In addition, if you are a first time home buyer, you may qualify to take advantage of the $8,000 tax credit. We’ve heard it before, but it bares repeating. When do you know when we’ve hit the bottom of the housing market…when it starts to go back up.
So, if you are in the market to buy one of the beautiful Shoreview homes or a fantastic home in any other area, it is time for you to make your move and get off of the fence.
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Before purchasing a property, primarily secure that you have enough source of income. Be certain that you have sufficient funds on a long-term basis to insure that you'll be capable of paying your monthly amortization.
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