7 Reasons To Buy A Home Now In Metro Detroit
1. Interest rates
• Excellent rates for new mortgages that will make payments lower.
• Rates have not been like this for 40 years and may not again!
2. Fewer buyers right now
• Buyers benefit with less competition for the best homes.
3. Lower buying activity
• Marketplace is experiencing lower prices, which translates to more
opportunity for buyers.
4. Sellers are more willing to negotiate – not just on price but on other things
5. Buyers who are still in the market are probably very serious and definitely worth working with
6. People were still buying homes in the early 80’s when interest rates were 18% for FHA and 7 points. Buying a home, even at high interest rates was still a better alternative than renting. If a person has a job and mediocre credit, buying a home is a definite recommendation. The mediocre rate is probably 8%, great time for mediocre credit.
7. People moving up from start homes to average or mid-price homes are
also likely to continue to buy even in slow times. The reason is that they
have equity in their current home and with the low rates available, can
afford a much larger home at close to the same payment they are
currently making. The buyer can also pull equity or buy investment property.
CLICK HERE to activate your FREE V.I.P. Member Home Search Section. By registering you will enjoy the following benefits:
Save your favorite property listings
Save your favorite searches
Daily updates sent directly to your email with new properties that meet your criteria and price adjustments
(Fields marked with * are required.)