Salt Lake Homes Buyers, The Time to Buy A Home Is NOW !!
Attention Salt Lake Homes Buyers, the time to buy a home is now !!
I have wanted to tell you all that I felt that way for a month or so now. I just didn't know how to say it without sounding pushy and self serving.
I wanted to tell you that trying to squeeze the last nickel out of a short sale, or waiting until the bank yelled uncle, or trying to get me to remind an owner thats underwater that if he/she is not willing to pay for the inspection that you can always go down the street, and they can face years of bad credit.
Fortunately I didn't need to do that, as I came across a blog written by Mike Jones of Tucson Mortgage Co. LLC that I hope he wont mind me sharing with you.
What I wanted to say was.....
For those of you waiting for SLC homes prices to bottom out or condominiums for sale in Salt Lake to go further in the dumper you had better start thinking of something besides price.
What Mike said was:
Just like a magical rainbow in the middle of a storm, there is a sweet spot emerging right now for buyers, agents and lenders. It's a convergence of price and the cost of money.
Home prices have fallen to levels affordable for buyers across the spectrum.
Today, on the announcement that the Fed plans to buy as much as one trillion dollars of bonds, rates fell. Qualified buyers (for the moment) can borrow purchase money at a fixed rate in the mid fours. Qualified borrowers can refinance existing mortgages.
It's a sweet spot in the middle of a financial storm, and I believe its beauty is destined to be momentary.
The future must hold rampant inflation again, as the government prints money out of thin air. There will be inflation, but not this month. Not at this moment.
Yesterday was St. Patrick's Day, and the interest rate Leprechauns are spilling gold at the end of the rainbow. Don't hesitate to take advantage of this lull in the storm.
- Buyers, call your REALTOR.
- Don't squander the opportunity on a short sale that won't close for months. The rates may have evaporated by then.
- Get something under contract that you can close in 30 days.
- Call your favorite mortgage broker, complete your application, and LOCK IN THE BEST RATE.
Thanks Mike, for letting me borrow your wisdom for awhile. To read more of what Mike has to say, click on Arizona Mortgages.
If you don't have a Realtor, we'd love to apply. Check us out on our website at Salt Lake Real Estate.
To get started looking at Homes or condominiums for sale in the valley click on Salt Lake Homes. You will get photos of thousands of homes in SLC, home prices, maps of neighborhoods and almost the same tools your Realtor uses to help you with your MLS home search.
If you need a lender that is experienced with the new $8000 tax credit for first time buyers, or the new Utah $6000 dollar New Home purchase incentive, click on Utah Home Loans and select a lender you can have confidence in.
Or you can call us at 801-567-0946 and we can discuss why we are telling all the Salt Lake Homes Buyers, The Time To Buy Is Now.