Real Estate is still one of the best investments to have. Even in a down market like we are in today. No one knows when the prices of homes will start to rise, but they will.  Those who have a chance to buy now will have the property increase in value in the future. Real estate, sort of has a 5 year roller coaster effect, much like any large business.  In 2006, the real state market was at it’s peak and then the decline started. We are at the midway point of this cycle. Currently we are still in a buyer’s market due to the amount of homes on the market. In my last article, RMLS showed a decline in the months of inventory  from 19.2 in January to 7.6 in September,  2009. In October it fell to 6.5.  Now is the time to consider owning a home.

A lot of folks don’t  know they have the ability to take from their 401K, without penalty, to purchase a first time primary residence. The IRS gives us permission to do it. The first time home buyer’s tax credits still apply. So, if you know of someone who has the means of paying a monthly mortgage, but they don’t have enough for a down payment, share this information with them. Thanks, they will appreciate it.

Tags: first time home buyer, midway point, roller coaster, time home buyer

This entry was posted on Monday, December 14th, 2009 at 6:32 pm and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.