Now Is NOT the Time to Buy a Home in Cherry Hill, NJ
You do not want to Call Me TODAY to discuss your home buying options.
I am sure that many of you are surprised to hear these words coming from me....Leander McClain, Realtor & Real estate consultant. According to a study cited by the National Association of Realtors, "8 out of 10 economists agree that home prices will rise in the next 5 years". Last week, the National Association of Realtors said the number of signed sales contracts rose for the seventh straight month in August, as homebuyers rushed to take advantage of a tax credit for first-time owners that expire in November.
According to Freddie Mac, rates on 30-year home loans dropped below 5 percent for the first time in four months, but still remained above this year's record low. The average rate on a 30-year fixed mortgage was 4.94 percent, down from 5.04 percent last week. The last time the 30-year home loan averaged less than 5 percent was the week ending May 28, when it was 4.91 percent.
"Low mortgage rates are helping to stabilize home sales," said Frank Nothaft, Freddie Mac's chief economist. Borrowers may want to consider the Federal Reserve's announcement last week that it is slowing down a program intended to lower mortgage rates and boost the housing market. Analysts say mortgage rates should remain low for now but could eventually move higher, and homeowners who want to refinance mortgages shouldn't delay. You may not Call Me Today, but according Mr. Nothaft, if you call me next month, there is a good chance that you will pay more for your mortgage.
With all of that said, maybe now is the time to consider purchasing your new Cherry Hill, NJ home. Five years from now, will you be the person who looks back on the decision you could have made today and say
I should have purchased a house when the prices were low!
Call Me TODAY!
Don't let this opportunity pass you by without giving it your best shot.
I look forward to hearing from you today.
Have a great day
Make This YOUR Best Year Ever
Leander McClain, Burlington /Camden County, NJ Realtor & Real Estate Consultant, Keller Williams Realty, 1814 Route 70 E Cherry Hill, NJ 08003 856-685-1677 Direct
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I got into real estate right before the dot.com bust here in Silicon Hills. When I saw prices plummet the next year, I would go on property tour and say: Wow! I wish I could buy something right now. I didn't have the means or the money at the time. Sure enough, the market went up. Then, we had another little downturn here in 2004-05. Guess what! I had the means and the money this time. I made tens of thousands of dollars buying when everyone else was whining about the jobless rate in Austin. Enter 2009, and here we are with another buying opportunity! Let's go, people!! Pick up the phone and call your local Realtor wherever you are. It's buying time.
Diane,
I love the way you explained what I was talking about with your own personal experience. I always say if you wait for everything to be absolutely perfect, you will never make a decision. You have to bite the bullet. The handwriting is on the wall. Smart folks will read & heed.
Have a great day
Leander