Friday, August 27, 2010

I think NOW is the time to buy!

Are you waiting to make that purchase, waiting for the best interest rates, and the 2007 recession to end?  Well... I think now is a great time to purchase.  I can't believe the great interest rates that are now at 4.8% for a 30 year mortgage.  There's also an abundance of homes on the market for sale. 

I know that consumer confidence is down and job security concerns are up... but, I think now is a good time to buy!

Real Estate markets are cyclical.  Between 1981 and 1984 there was high inflation... remember those 15% to 20% loans for a 30 year mortgage?  (I was looking to build my first home during that period).  Well, during that period, home prices were rising just as high and fast as the interest rates.  A loosening of lending restrictions drove prices higher as demand to purchase these homes increased.

Well... could this be the beginning of a similar scenario of "pent up" demand for housing?  The loosening of those lending standards created that flurry of home buying during "81-"84"... which drove home prices up.  Interest rates will most likely go up as the demand goes up.

Consumers/homebuyers, have been "fenced sitting"... waiting for rates to hit bottom.  Home supplies have been on the market for 6 months to a year, and appraisals have adjusted.  This soft market should be an opportunity to buy! 

Tuesday, August 24, 2010

MLS 238131

2903 Sage Court, Purcell, OK 73080

Just Completed and Ready for New Family... Take a photo tour to see the insides of this Dallas style home in The Arbors.

MLS 238131

MLS 241799

Just Listed 505 W. Madison, Purcell, OK 73080

Got to view the inside of this darling home in Purcell. Check out the MLS link below...

MLS 241799