Sometimes it can be easy to lose perspective on the state of the home buying market when you read daily headlines and hear financial news bytes. In fact, there has rarely been a better time for qualified buyers to purchase a new home for a variety of reasons:
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Huge selection of homes for sale
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Home prices have moderated
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Homes are on the market longer so you have more time to make a choice
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Sellers and buyers are negotiating again
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Fewer bidding wars in the current market
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Home inspections and appraisal requests no longer being rejected
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Homes are a proven long-term investment
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And perhaps most important ... mortgage rates are still near historic lows...
The national yearly averages for interest rates on 30-year fixed mortgages continue to be at near record lows since these rates have been tracked beginning in 1972. Interest rates actually reached over 16% in the early 1980's! Having a low interest loan allows buyers to purchase more home for their money.
