There is a lot of confusion out there about the current real estate market. The news has dragged the entire market through the mud for over a year now. A lot of people are confused about many things when it comes to buying a home these days. Some of the assumptions are:
Q. Do I need 20% down payment to buy a house?
A. NO
While the ability to put 20% down is a good thing, it is not necessary. FHA mortgages only require a 3.5% down payment. Not only that FHA loans are available to buyers with less than stellar credit scores.
Q. The banks have no money to lend?
A. FALSE
Once again false. The banks have plenty of money to lend, they have enacted tougher standards but they have plenty of money. What do you think the Treasury Department has been doing with the 700 Billion?
Q. I have been told now is not a good time to buy?
A. FALSE AGAIN
I can give you 5 great reason why now is a great time to buy.
- Interest rates are their lowest ever. (below 5% today)
- Inventory of homes is high
- a $7500 tax credit for first time home buyers (Expires 6-30-09)
- Many Sellers are desperate and will negotiate accordingly
- Foreclosures & Short sales can be incredible deals
If you don't believe me ask Dave Ramsey or Suzie Orman or Donald Trump or Jim Cramer, all have said now is the best time to buy a home.
So what's the next step?
Click Here and start your home search
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The Russell Home Team specializes in Johnson County Kansas Homes and Real Estate for sale. We are tech savvy realtors with over 10 years experience. Please join us on our Social Networking Network to stay up to date on Overland Park, Olathe, Leawood, Lenexa, Shawnee and all of Johnson Counties real estate news and more...
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