Yesterday, I posted two good reasons why now is a good time to buy a house from a publication from Keller Williams Realty International entitled “7 Reasons Why Now is a Great Time to Buy a Home” , after posting the top three on Tuesday. Today round out the final two good reasons why a buyer should buy now!

To recap the top three reasons to buy a house:

1) Homes have never been more affordable.

2) Mortgage rates are at rock bottom and won’t stay there forever.

3) Prices are trending back up.

Two more good reasons to buy a home now:

4) Sellers are motivated.

5) Lenders are back in the game.

And then the final two of seven:

6) Ownership Costs are Dropping Below Rental Costs.

Graph from “7 Great Reasons Now is a Great Time to Buy a House”

This houston heating repair says homeowners have other costs such as HVAC repairs, carpet replacements and the like, ownerships costs are now dropping to a level where even including these items, it is still cheaper than renting in many cases.

Rents have still been on the rise while interest rates and house prices have dropped. Keep in mind also that most of the time the interest you pay on your mortgage is tax deductible, so that brings it even lower over the long run!

7) Home Ownership Remains at the Core of the American Dream. People, in general, want to own their own home. Also, rent is subject to being raised every year, while a fixed mortgage is not. Taxes and insurance would really be the majority of any change in monthly payments in your mortgage, and you can build equity in your house. Meanwhile, rent is just money thrown away over the long run.

Graph from “7 Reasons Now is a Great Time to Buy a Home”

The recent decline in home sales was predictable due to the expiration of the $8,000 Home Buyer Tax Credit. Summer sales were lower than normal because of the spike in purchases earlier in the year.

Fall is trending back to normal, and before we know it, prices will be trending upward over the whole Baltimore real estate market area.

What does this tell us? The time to buy a home in Baltimore is NOW. Contact me so I can help you take advantage of these Seven Reasons!