It’s a Great Time to Buy

Motivated Sellers and Inventory 

Now is the ideal time to buy in most markets prices won’t go any lower and there is an abundance of inventory.  Inventory of homes for sale is at a 15-year high. There are so many options out there for many buyers and many sellers who are willing to negotiate and work towards a win-win situation that works for both parties. 

The Market is Strong and Every Market is Different 

Remember that all real estate is local and that all markets are different.  There are opportunities out there for a buyer if you’re willing to look. 

2007 was the fifth best year on record for existing home sales despite public apprehension about the real estate market.  In fact, 2007 was very similar to the home sales and price gains experienced in 2002, when consumers were very confident about the market. 

Benefits of Ownership 

Owning a home is the American dream.  It not only provides amazing tax benefits but it also provides shelter and security to families.  Did you know that: 

• Dollar for dollar the rate of return on an individual’s cash down payment on a house is substantial?  And that repeat buyers are able to put 19% more down on a new home due to appreciation?
   
• Home owners move less often and are more likely to vote and volunteer time for political and charitable causes than renters?
   
• When you own a home you can deduct the property taxes and mortgage interest from your income taxes?
   
• The gains that you make on a primary residence that you’ve occupied for two years out of five can be tax free?

Mortgages are at Historically Low Rates 

For buyers who qualify mortgage rates are near historical lows.  They are hovering right around the same as they were 45 years ago. 

The Value of Your Investment 

Despite some contrary media reports and some moderate losses in value in the short-term, home values long-term have and will continue to rise.  Real estate is a long-term investment.  Over the past 30 years, the median price of existing homes has increased an average of more than 6 percent every year, according to historical data from NAR’s existing home-sales series.  Thanks to the power of leverage, a homeowner’s return on investment is even more impressive over time. 

Homeownership is an Investment in Your Future 

A Federal Reserve study has shown that the average homeowner’s net worth is 46 times the net worth of the average renter.  The average homeowner’s net worth is $184,400 compared to $4,000 for renters. 

Talk to your REALTOR® today about helping you achieve the American dream! 

The above excerpt was taken from “It’s a Great Time to Buy!” brochure.

© 2008 NATIONAL ASSOCIATION OF REALTORS®.

All rights reserved.  Used with permission.

For more information and/or to order copies of this brochure, go to www.realtor.org/store.