NOW Is the Time to Buy a House! Here’s why…

Today’s historically low mortgage rates are a prime reason why now is a great time to purchase a home.  Low interest rates make the cost of borrowing money very inexpensive.  Today’s low rates are not expected to last much longer, with interest rates expected to increase significantly when the economy in general improves.  There is no reason to wait to purchase your new home!

Many prospective purchasers are worried that home prices may not be at their absolute bottom, while most experts believe that the bottom is here or not far away.  But, timing the market is very difficult.  Prices are very low today and the interest rates are very low today.  Even if you do not catch the absolute bottom of the market, lower interest rates will more than offset the difference in purchase price, resulting in a lower monthly payment.  Now is the time to buy while you have a larger selection of homes to choose from.

In a special report titled “NOW Is the Time to Buy a House! Here’s why… “ published in the July 15^th edition of Bottom Line/Personal, Mike Castleman, Sr., CEO and cofounder of Metrostudy, a company which maintains the largest database of housing market information in the U.S., writes, “Mortgage rates currently are so low that locking them in likely will offset any remaining real estate price declines, assuming that you intend to live in the home for five years or longer.  Let’s say you decide not to buy a home this year because you are afraid that real estate values will continue to decline… and let’s say you’re right, and prices drop by another 10%.  If today’s extremely low interest rates climb by just one percentage point, your monthly mortgage payment on a 30-year fixed-rate loan won’t be any lower despite the 10% lower purchase price.  If interest rates climb significantly more that one percentage point, your monthly mortgage payments will be higher – even if you are correct and home prices do continue to fall.”  Almost no one expects a 10% fall from today’s low prices, so the argument is very powerful.

Why put off the joy and contentment of homeownership?  NOW is the time to buy!

If you would like to read the full article, it can be found at NOW is the Time to Buy a House.

Rieger Homes is your Dutchess County new home builder and Orange County new home builder of choice.  We have been a leading home builder in the Mid-Hudson Valley for over 50 years.  A family owned company under its second generation of leadership, we are committed to building a successful relationship between our family of professionals and your family.  Our goal is to assist you and your family in building a new home of your dreams.  We hope that your home purchase is an exciting and memorable event. If you already know your future neighborhood in Dutchess County, Orange County or Ulster County, New York, we would love to be your builder!  Please check out our beautiful neighborhoods and exciting homes and floor plans.  Happy home shopping!