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!

Searching for a home in Lafayette or West Lafayette?

pSearching for the perfect home can be like finding a needle in a haystack. In today's real estate market, locating your dream home requires a real estate professional who has the knowledge and systems to respond quickly.

We use a strategic approach to give you a distinctive edge over other buyers.

Our technology tools target homes that fit your unique lifestyle, tastes and financial criteria:

· See photo's of thousands of properties 24 hours a day, 7 days a week.
· Receive daily e-mail alerts on new home listings that match your criteria.
· Access mortgage calculators and other financial tools to help you make your decision.

If this sounds like a tool you can use. Click on our website to see all the listings in the Lafayette MLS and contact us today to discover the most recent area properties to hit the market. Visit www.RomanskiGroup.com!


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

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!