My New Blog

This Is The Absolute Best Time To Buy Real Estate In Two Decades!
People ask me on a daily basis how the real estate market is.  Do you know what I have started answering them with?  "This is perhaps the best time to buy a home that we have seen in our lifetimes!  You may say, "How so?"  Well it's easy to say it's a better time than in the last 5 years because everything has come down so much in price.  That we all understand.  But what about the other conditions in this economy challenged environment that we all find ourselves in now?  For starters:
1.  Availability of Loans for housing.   There are banks, credit unions etc. all over that will lend money on an existing or new home if a. You can show your ability to repay the loan (you are employed) b. Have shown personal responsibility as far as your debt is concerned (have a decent FICO score) and c. have in most cases some money for a down payment (on FHA 3.5%, conventional- 20%, and a few programs are zero down[Utah Housing for one].
2. Prices!  With the onslaught of foreclosures and "short sale" properties on the market (in Washington County, Utah it's 51.9% of all sales closed) prices have become more and more affordable for everyone; including first time home buyers who could not afford the prices before, but now can.  Also I know personally of forty plus properties on the market now in the $65K to $99K price range that would cash flow immediately for people who want to own rental real estate.   I even know of 3 duplexes built in 2007 that rent for $675 a side that can be purchased for $169,900!  These deals are everywhere! 
3.  Interest Rates.  I am old enough to remember the interest rates of the early 1980's when they got up to 18%.  I remember being the agent for a buyer client of mine that got a loan at 17.5%.  We are not seeing anything even close to that now.  A rate quote from a local lender was Emailed to me just yesterday of 5.875% on a 30-year fixed rate mortgage.

About 98% Of You Will Do Nothing...
with this information.  You will be the ones in about a year from now saying "Man why didn't we buy something when it was so affordable and doable?"

Consider This...
• Do you know a young person or couple that would like to own instead of renting?
• Do you have kids who will be going to college in the next 2 to 4 years, and will need housing? (Buy it now and rent it out; let your kid's roommates pay the payment when he or she goes to college)
• Have you considered how owning some income properties yourself might give you a more secure retirement than being at the mercy of a volatile stock market?
• Would you like to pay less in taxes by having legitimate write-offs like depreciation and mortgage interest?

If you answered yes to any of the above questions, you should start looking now!  What if our new administration comes in and bails out all the people struggling to hang on to their homes, and they take the homes they are trying to sell off the market?  If there is a lesser supply, what naturally follows? Higher demand and higher prices.

You Don't Have To Be Rich... Just Decisive
People always have to have a place to live.  Now is the time for those who want it for themselves and others to take action.

I will be working with a few of you and your kids or acquaintances who will call me to get started.  I am certain that together we can find a great fit for your ability to purchase.  As you can see, I have a little incentive to buy soon.  Click on the $500 graphic to get details. 

As always,
My best to all.
Al Eggleston