Should people think about buying a home now? Of course yes! Buying a house is the most expensive thing one can ever make. Many of the people have been hearing this question for so long that now, is the perfect time to buy a real estate property. But the fact is, when the recession burst a couple of years ago and people were rapidly losing their hard-earned money on their houses, made investment in real estate sector a scary thought.
But, again thanks to the same recession that puts the real estate industry into a mess, there are plenty of amazing opportunities for those with the financial resources and planning to buy real estate property. Listed below are the few reasons why its presently known as buyers market in 2014:-
1.Affordable Housing solutions: – Are you attempting to buy a home now? If yes, then it is a great idea to buy a house when the market is at lowest price. Especially for the people who play a hardball. No one knows when the real estate market will hit the bottom again because homes have not been this affordable since 2002. According to the recent news that is streaming around, history is repeating itself where the prices of homes come down a long way- about 20% from its peak. Now, you must be thinking that will prices fall further? Sure, it will. But, you will never catch the same prices again. With the significant decline, plenty of housing options are available due to its lowest prices and foreclosure.
2.Interest rates are dropping: – According to the market analyst, you can easily get the 50-year loan for about 4.5%. This is what you are looking for. Isnt it? Although it may vary with each passing day, the 20 year rate at this level is an amazing enticement to home-buyer.
3.Real estate developers are offering freebies, eager to sell property: – With each passing day, real estate market competition is rising to a great level. Real estate builders or developers are offering great incentives options to the prospective buyer in order to reduce their inventory of unsold new homes. Freebies consist of win smart phones, washer, refrigerator, furniture and Rs. 2, 000 buyers bonuses.