March 20, 2007

Great Reasons to Buy a House Now

Great Reasons to Buy a House Now

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The real estate market in the U.S. today�offers great opportunities for homebuyers.� People�seriously considering buying a new house should decide to buy it now.� Here are few reasons why the real estate market now is so attractive for homebuyers:

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1.�This is a buyers market.

The supply is greater than the�demand.� Meaning, there are�more new houses on the market than buyers interested in buying them.� The great number of�homes for sale means a wider choice of� houses and house prices.

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2.�Interest rates are at the lowest level.

Interest rates are now at the lowest level they have ever been before.� Between 1973 and 1981 they were ranking from 8.5% to 18.5 %.� In 2001, they dropped to about 7% and today the rate is about 6.5%.� Homebuyers are now able to buy more for less.

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3.�Within a year the market will improve.

Around the country, there is a constant increase in jobs and population.� Soon, the number of new houses will diminish and the inventory will shrink.� The demand for new houses will quickly rise along with house prices.� Therefore, homebuyers should buy now since�house prices are still near�the bottom.

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4.�Wages are increasing.

According to the Department of Commerce, wages are now increasing and the market is heating up.� Higher wages means a real possibility for many people to buy a new house.� Low interest rates enable homebuyers purchasing a better quality house at low monthly payments.

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Are you thinking about buying a new house now?� If you have any questions/concerns regarding the real estate market now you may contact us or leave us a comment below.

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