For many people buying a new home these past few years has been all but impossible. The price of a Bayville house has been steadily increasing and the prices have been well above affordability for the past few years. Those who did buy even overstretched themselves to be able to afford the homes
A series of factors has come together though to make the Bayville house of your dreams very affordable. It is incredible how quickly this market has switched from a seller's market to a buyer's market and if you are a buyer you need to jump on this opportunity. Markets rarely favor one group so heavily as they favor buyers today.
The number and type of homes on the market is staggering. Buyers have their choice of turnkey homes in great condition at costs that were unthinkable even two years ago. Also, buyers have gained the upper hand when it comes to bargaining. If you're looking for a contingency on your sale, you've got every right to ask for it and get it particularly now.
Another factor making this a perfect time to buy is interest rates and government incentives. Rates are at all-time lows and you can get a fixed rate loan at a super low rate. The advantages of the stability of these fixed rate loans are amazing and interest rates are very unlikely to go much lower. Even if you believe prices are going to come down further that decline could be more than offset by an increase in interest rates.
The government is also offering terrific incentives, particularly if you are a first time homebuyer. Prices are terrific but having the ability to get an $8,000 tax credit on purchase of a home serves to sweeten the deal even further. When you couple that with the other tax advantages of owning a home such as the ability to write down mortgage interest this shows the government's support for the housing market.
On top of the resale market, you can likely afford newer or customized homes that you couldn't afford two or three years ago. As builders struggle to keep their head above water with their large inventories, prices are dropping even further, which means you'll likely find a gem of a deal.
Also, if you're in the market for a new homes, builders have begun taking desperate measures by offering mortgage deals that are better than the ones you'd be able to land in the regular market. Some buyers have reported getting four or even sub four-percentage mortgage rates, something that's unheard of in recent history. You even have the ability to bargain for additional landscaping, window covering and other aesthetic add-ons.
With all the factors lining up in favor of home buying now is the perfect time to buy your Bayville house. These factors won't line up like this for long and so if you are in the market in the near term you should start looking seriously right now. Between great prices, low rates, and good availability you really can't go wrong.
A series of factors has come together though to make the Bayville house of your dreams very affordable. It is incredible how quickly this market has switched from a seller's market to a buyer's market and if you are a buyer you need to jump on this opportunity. Markets rarely favor one group so heavily as they favor buyers today.
The number and type of homes on the market is staggering. Buyers have their choice of turnkey homes in great condition at costs that were unthinkable even two years ago. Also, buyers have gained the upper hand when it comes to bargaining. If you're looking for a contingency on your sale, you've got every right to ask for it and get it particularly now.
Another factor making this a perfect time to buy is interest rates and government incentives. Rates are at all-time lows and you can get a fixed rate loan at a super low rate. The advantages of the stability of these fixed rate loans are amazing and interest rates are very unlikely to go much lower. Even if you believe prices are going to come down further that decline could be more than offset by an increase in interest rates.
The government is also offering terrific incentives, particularly if you are a first time homebuyer. Prices are terrific but having the ability to get an $8,000 tax credit on purchase of a home serves to sweeten the deal even further. When you couple that with the other tax advantages of owning a home such as the ability to write down mortgage interest this shows the government's support for the housing market.
On top of the resale market, you can likely afford newer or customized homes that you couldn't afford two or three years ago. As builders struggle to keep their head above water with their large inventories, prices are dropping even further, which means you'll likely find a gem of a deal.
Also, if you're in the market for a new homes, builders have begun taking desperate measures by offering mortgage deals that are better than the ones you'd be able to land in the regular market. Some buyers have reported getting four or even sub four-percentage mortgage rates, something that's unheard of in recent history. You even have the ability to bargain for additional landscaping, window covering and other aesthetic add-ons.
With all the factors lining up in favor of home buying now is the perfect time to buy your Bayville house. These factors won't line up like this for long and so if you are in the market in the near term you should start looking seriously right now. Between great prices, low rates, and good availability you really can't go wrong.
About the Author:
Learn more about Toms River home market or search houses in New Jersey on waterfront expert Jackie Dragotto Real Estate web site.
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