Real Estate Information

The buzz is getting louder in the media stream and the tables are turning, it is time to make that home ownership dream come true. Our inventory on a local level as well as a national level is dropping at a fast rate and as supply and demand rule the day it is time to act.

With interest rates as low as they are you may be able to buy a home and come out the same as a rental payment. Being a home owner also allows for additional tax credits I would recommend speaking with your account to find out how that may affect your decision to buy a home.

Please let me know of any additional questions you may have on the process of buying your new dream home. Fell free to check out my Facebook page www.facebook.com/adewey or www.alexdewey.com  for local Fort Mill, South Carolina news and happenings. I look forward to answering your questions concerning home owner ship.

Alex

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.