It’s a Great Time to Buy or Sell a Home

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I saw this headline in a recent issue of USA today. It was on a page sponsored by the National Association of Realtors. I couldn’t agree more.

They hi-lighted some facts that really put the current market in perspective. Here is what the NAR says:

“Right now may actually be one of the best times to buy a home. Consider these facts:

Interest rates are near record lows. Today’s interest rates are comparable to 40 year lows, offering homebuyers a once in a lifetime opportunity.

Large inventory won’t last. There are currently 3.75 million homes for sale. We have had a record inventory of homes on the market in recent months, offering consumers the greatest choice in decades.

Prices overall have stabilized. Contracts for home sales in August are up 4.3 percent. The outlook is for home prices to increase next year.

Positive Outlook! Former Federal Reserve chair Alan Greenspan recently said that housing prospects are looking up. ‘Most of the negatives in housing are probably behind us. The fourth quarter should be reasonably good, certainly better than the third quarter.’ According to industry estimates, 2006 will be the third best year on record for home sales.

Real Estate is a great investment. Homeownership is a safe, secure way to build long-term wealth. The national median price of homes bought ten years ago has increased 88 percent. The number of U.S. households is expected to increase 15 percent during the next decade, creating a continued high demand for housing.

Don’t delay. Now is a great time to buy or sell a home. Call your Realtor.”

Don’t get lost in the doom and gloom. When you consider these facts, buying and selling in today’s market is a matter of Good Home $$s and Sense.