Now IS the time to buy. This is no secret. Let me show you quickly a few real examples of deals that I’ve closed.
Use to pay $1300 in rent for a 3 bedroom home.
– Purchase Price $125,000; 3.5% downpayment (FHA loan); will get $8,000 tax incentive from government
– 3 bedroom 1 bath home; B- area (not the best area, but not terrible); complete remodel with new roof, HVAC, water heater,kitchen and bathroom, flooring, windows, fireplace (all new!) and more. It has a large 2 car garage.
– Monthly payment including principle, interest, tax and insurance, and PMI = ~$950/month!
They are saving money for buyer vs. renting, plus they will not have huge tax write offs AND $8,000 to buy whatever they want.
Another buyer did the same thing on a $130,000 home it the same area – this home needed a little work, but qualified for FHA financing. This was a 4 bedroom 2 bath home.
[the pictures posted are the actual homes]
There are still great deals out there for those serious about buying.
Real Estate Broker