The time to buy is now!

Am I the only one tired of all the doom and gloom that is associated with real estate these days? Is all of this doom and gloom even warranted? If you did want to buy a house, could you find financing?

The answers to the above questions are as follows:
Hopefully, everyone is tired of the doom and gloom.
NO, doom and gloom is not warranted.
Yes, you can find financing - and at very reasonable rates!

Obviously, home sales and resales have been depressed this year – which is all the more reason NOW is the time to buy. Unless a property is the lowest priced in the neighborhood, sellers are being forced to negotiate. Consequently, you can find some very good deals right now - plus interest rates are still in the low six percent range.

One of the biggest falsehoods regards financing. The belief that buyers can no longer get financing is just plain wrong. There are a variety of mortgage products available including investor financing. FHA loans are a good product for those with little money for a downpayment and less than stellar credit. And you can even get 100% conventional financing under certain circumstances.

The difference between now and a couple years ago is that there is no longer a free wheeling flow of money; where almost anyone could get a mortgage. Restrictions and standards have been put in place for borrowers – but they are not unreasonable standards. Undocumented financing is difficult to obtain - but not impossible if your credit score is 680 or above. There are still mortgage programs for those who have less than a 680 FICO score and if you can document your income, that works to offset a lower FICO score. Also, there continues to be special financing programs for community workers, such as firefighters, policemen and teachers.

We are happy to refer you to reputable mortgage lenders who will assist you in finding the best financing based on your individual situation. Housing prices are good now – why wait to buy?
Jeanette