Economists are predicting an uptick in growth in 2015, which may encourage more people to look at buying real estate versus renting. Realtors are advising not to wait any longer if you're considering buying a home.
"Because so many people put their homes on the market, buyers are able to negotiate a good deal again. That's been the case for the past six months. It looks like that's starting to taper off now, but it is still a good time to buy, if you act quick," said Mike Muren a Real Estate agent.
But where to start? If you are a first time home buyer, talk to your realtor or your real estate attorney to get your questions answered and to find out more about the process of buying your first home.
Some questions to ask: "When do you have your property inspections? How can the buyer make sure they're protected so that they're not buying a home that is in poor condition?"
With the spikes in rent, millennials are now more likely to enter the real estate market.
With all of the job growth, it is typically more expensive to rent than it is to buy right now.
Often rent is very comparable to what a mortgage payment will be, so it seems wasteful to throw the rent out the window when it's not an investment.
With financial assistance through programs that are offered with various qualifications, becoming a homeowner has gotten easier.
If you are interested in buying or selling a home, find out more about the process and more about the programs that are available. There are a lot of different options, assistance and low down payments that can help. For more information, contact Black and Buono.
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