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Ames Iowa Real Estate - $8,000 Home Buyer Tax Credit

by Tom Randall Real Estate Team

There is a great program out there for First Time Home Buyers that gives them an $8,000 tax credit.  You have to purchase a home in the 2009 calender year so please click on the link below to get more information.

http://www.federalhousingtaxcredit.com/2009/home2.html

Ames Iowa Real Estate - Should I Buy a Home Now?

by Tom Randall Real Estate Team

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

Displaying blog entries 11-12 of 12

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