November 18th, 2012 10:20 AM by Nathan Rufty
Anytime to purchase a home is a good time. The best investment you can purchase is a home. Over the past several years it may have not seem like it, but with the tight inventory we are experiencing particulary here in California, values are on a steady increase. So to answer the question, the time is NOW.
Trying to predict the market on when to purchase home is not a good idea, when you think the bottom is coming, next thing you know the prices are on the up swing and the interest rate are moving up as well.
If you are in the position to purchase a home at this very moment, then the time is NOW. How often do we gamble in Las Vegas or even with the California Lottery and scratchers just for the chance to win big or at least get our money back? How often do we win, I can beat we loose more then we win. Do not gamble like this on a home because it will have a long lasting effect.
The one thing we have going today are very low interest rates, you will probably not see these rates again for a very long. So the time to lock in a 30 or 15 year fix rate is NOW. Historically the rates I have not been this low in my 24 career in the lending industry. I started in the mortgage industry in 1988 where rates were at 12% on average and we were still lending. So this is one area you do not want to gamble on the rate to see if it will go any lower.
The value of a home goes up and down over the years, we just need to ride that roller coaster, but over time you can see that the housing market is still strong year after year. With a low fix rate, let the house values go up and down, you will not be concerned with that because you have a very low fix interest rate to relay on. When it comes time to sell in 7, 15 or 30 years, that home did it's job with a roof over your head, holiday gatherings, raising children, tax write off, building equity and many other benefits.
You have to live some where, might as well be your home that you are living. Lets start exploring owning a home NOW, contact me at 909-503-5600 and I look forward in hearing from you!