Lafayette Indiana Real Estate - It's a Great Time To Buy

7 Reasons Why Now Is A Great Time To Buy

Now truly is a great time to buy a home. If you--or someone you know--is ready to move up or become a first-time owner, if you plan to stay a few years and you've been waiting for the perfect time to buy--now is that time.

Here's why. Housing cycles cure themselves. Prices soften, inventories rise, savvy buyers snap up bargains, demand increases, and the market returns to normal. As buyers return that demand pushes home prices up and mortgage rates higher, according to housing economists and past history. Higher prices and higher rates mean waiting today costs you more tomorrow.

The secret is to buy while the headlines are gloomy, secure an affordable fixed-rate loan and enjoy the home you want to live in before the advantage of today's market passes you by. By taking a long-term view--as a home investment should be seen--you can weather temporarily lower prices in the area while the market corrects if you buy now with a fixed payment.

Consider these reasons why my experience shows this is a great time to buy:

1. Take your pick of homes - there are many to choose from. Gone are the days when there were more buyers in the market than homes for sale. Then, options were few and many buyers felt they had to take what they could get whether or not it was the ideal home for them. Now, the reverse is true: There are lots of homes to choose from, and buyers can afford to be picky.

2. Do your homework. With more properties on the market. Instead of making a decision on the spot, buyers can actually spend quality time researching home son the internet and learning all about them. It is always good to visit a home 2 times before making an offer so that you can see more features about the home.

3. Make an offer. In the sizzling seller's market, buyers were outbidding one another--sometimes offering amounts thousands of dollars above the list price of the home they wanted. Today, buyers don't have to engage in bidding wars and--bonus--they're finding sellers more willing to entertain their offer.

4. Negotiation encouraged. In the past, many buyers, striving to gain the upper hand in bidding battles, waived contingencies for home inspection, pest, roof or sewer inspections. Sellers were able to sell their homes "as is" to buyers willing to shoulder the cost of repairs. These days, however, more buyers are shopping for warranties and asking for inspections, and, if problems are uncovered, they can reasonably expect sellers to negotiate to get a closed sale.

5. You can't beat the location. Want to live closer to work? In a better school district? Near the town center? In a larger--or smaller--home? You may be surprised at the abundance of possibilities out there that are a much better buy these days.

6. Bargains available. Qualified first-time buyers, down-sizers, second-home buyers, rental investors and others can find bargains today--if you know where to look. Bargains are available from owner short sales, lender-owned foreclosures, builder close-outs, executive relocation properties, estate sales, even tax and condemnation sales. There are bargains out there in every price range now. If you are looking for a below-market value, I can help.

7. Affordable payments. Interest rates on a 30-year fixed-rate mortgage have been hovering near 6% this year. Compare that to the average interest rate 10 years ago on a 30-year fixed, which was 6.94%; 20 years ago, 10.34%; and 30 years ago, 9.64%. From an historical standpoint, today's interest rates look terrific. Combine low rates with low prices to get low payments, and you know why now is a great time to buy.

Inventory to choose from is high, prices are low and interest rates are great - what are you waiting for? Trying to determine the bottom of a market is like trying to catch a falling knife. You could wait longer to see if the market will decline however interest rates could increase during that time as well.

Call The Romanski Group today to begin your home search (765) 532-6148 or visit us online at www.RomanskiGroup and get signed up for our automated email home search system!

Lafayette, Indiana Real Estate - Home For Sale

Erin Romanski and The Romanski Group | Keller Williams Realty | 765-807-7121 3982 Ensley, Lafayette, IN MOVE RIGHT INTO THIS NEW HOME W/ 3 GENEROUS BEDROOMS PLUS A LARGE GAME ROOM ON THE 2ND FLOOR. 3 Bdrm Single Family House offered at $169,900 Year Built 2006 Sq Footage 2,613 Bedrooms 3 Bathrooms 2 full, 1 partial Floors 2 Parking Unspecified Lot Size .19 acres HOA/Maint $0 per month DESCRIPTION This beautiful newly constructed home is situated on a nice lot in Stones Crossing! This home offers three generous bedrooms, two and a half bathrooms with over 2600 square feet of living space. Features include a formal living room, family room with a gas log fireplace, oak kitchen with a breakfast nook and a 2nd floor game room. Additional features include patio, neutral decor, 2-car attached garage and a beautiful master suite with a deluxe bathroom. A must see - move right in! see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace High/Vaulted ceiling Walk-in closet Family room Living room Bonus/Rec room Breakfast nook Dishwasher Stove/Oven Microwave Laundry area - inside Balcony, Deck, or Patio Yard ADDITIONAL PHOTOS Seller contact info: Erin Romanski and The Romanski Group Keller Williams Realty 765-807-7121 For sale by agent/broker Equal Opportunity Housing Posted: Feb 8, 2008, 2:33am PST

Finding the Right Mortgage

Finding a Mortgage Lender and Your Options

When you are buying a new home or refinancing your present one, it is wise to do some comparison shopping among lenders. A low interest rate isn't the only criterion by which to evaluate a loan. You should also consider the terms of the mortgage, what your closing costs will be and the reputation of the lender.

Real estate agents are a good source of information about loans and lenders, whether you are buying a home or just refinancing your present home. We routinely assist buyers when they need a mortgage in order to purchase a home. We know what loan packages are available and the qualifying requirements. The companies with the lowest rates sometimes have very conservative underwriting guidelines, and may not be willing to make loans on certain types of property or to buyers who are marginally qualified. We can tell you which companies and loan officers will go the extra mile to provide excellent service to make sure that the transaction closes.

For a Free Home Buying Guide w/ Recommended Mortgage Lenders contact us today

The Romanski Group
Keller Williams Realty
(765)807-7122
jimromanski@hotmail.com

See all listings in the Lafayette MLS at www.RomanskiGroup.com!