No, wait, that’s not it; that’s something completely different.
I wanted to write once more about the changes that are going on in the market, right before our very eyes. In our office, there were an average of 18 couple through the open houses this past weekend – that is huge. Several agents sold properties with multiple offers, and went over list price – that is huge. Numerous buyers have been on the phone and email the last 3 days, saying that now it’s time for them to look at buying.
What does all this mean?
Well, it sure looks like the reliable signs that say the market is turning. Now, sure, I’ve read some of the whiney posts by people on The Star’s bulletin boards about how the optimism is just lies because of how many more people are going to lose their jobs. And I’ve heard those prognostications too. But here’s where it gets interesting . . .
Rent for a small house = $1300 per month / Purchase price of $195,000.
Mortgage Pymt = $805
Condo Fees = $240
Taxes = $175
TOTAL = $1,280
Well, look at that – it’s actually cheaper to buy than it is to pay rent! And, people have to live somewhere, so why not pay off your own mortgage instead of someone else’s?
Oh, the naysayers moan, those numbers aren’t real. What about the downpayment? Well, what about it; for a slightly higher mortgage rate, you can get 97% or 100% financing and still be paying off your own mortgage instead of someone else’s.
Well, I can’t buy – I’m stuck in a lease for the next 9 months! Guess what – I have a solution for that too! Give me a call to set a time for a Buyer Consultation and we can go over all the details and get you into a home before you miss out on one of the best buying markets in history!
