Now Is the Ideal Time to Purchase Property
If you are wavering in the decision of whether to buy Telluride real estate or not, then you may be missing out on the golden chance of cashing in during these most perfect investment opportunity. There is no better time than the present to take the plunge and invest on Telluride properties.
Here are the 7 BIG reasons why you should be keen to invest on properties right now.
1.The real estate market is now predominantly a buyer’s market. Home buyers have this great opportunity of getting the best home buying deals. You will have a lot of choices of prime real estate properties that are priced lower than their real value. This is prime opportunity to get the best value from your real estate investment.
2.For those who are watching for the right moment to pounce, here is a bit of good news. This is also good advice for those who are hesitant to make up their minds. As of latest reports, the effective rate for a 30-year mortgage which is at a fixed rate is about 4.82% on the average. This is a big drop of 1% from the same period of last year. You should take advantage of this while it lasts, because the market is due for a big turnaround as this is the lowest mortgage rate since 2005.
3.In the past year, there has been an abnormally high inventory of home foreclosures. Mortgage lenders have been needing to rein in on their increasing number of foreclosed assets and selling is the most judicious direction for most companies and banks. Expect to get some good deals if you look in the direction of foreclosed real estates.
4.First time buyers of real estate properties are entitled to tax credits. A buyer who has never owned a real estate property for more than three years and fall within the prescribed income bracket can avail of tax credit equivalent to 10% of the real property home’s tag price without exceeding $7,500. The home buyer can utilize these tax credits for his taxes for 2008 and 2009.
5.There is an upward trend in rental rates due to increased demand for rented spaces. This is related to the increased preference of most families to rent home spaces amidst the difficulties that is hounding the real estate industry. Further, renting property is also the best solution for people whose houses have been foreclosed.
6.With the very volatile and unpredictable and the increasing number of financial institutions succumbing to financial pressure, real estate investment is the way to go. It is the safest investment and for those who were able to cash are expected to gain windfall profits once the real estate market and the economy will occur within the next few years.
7.With the combined effects of low interest rates and reduced real estate prices, you are expected to get more value from every dollar you spend for properties.
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