FOUR GREAT REASONS TO PURCHASE A MEMPHIS HOME NOW!!

The National Association of Realtors and of course the Memphis Area Association of Realtors, are doing their best to help stimulate the home buying and selling market. Each organization has programs in place to keep the market alive and well no matter how much bad press it gets. As a matter of fact, much of the bad press simply makes recovery of our market even harder.
At any rate, there are good reasons to buy a home in the Memphis real estate market and here they are.

1) Mortgage rates are still hovering around 40 year lows. Today, rates are around the 6% mark as they were 45 years ago!
2) Inventory is at a 15 year high, with over 12000 homes for sale in the Memphis real estate market. Normally, there are around 7 to 8 thousand homes on the market. This gives more choices to find the right home for your family.
3) FHA is just now announcing higher low amounts available in our area for individual mortgages, allowing higher dollar purchases for those who qualify.
4) If you have been renting while waiting to purchase, you are losing out on the two best tax deductions of mortgage interest and property taxes. Both of those make home ownership a much better financial position rather than paying the mortgage on rental property for someone else while your funds give you no return when they are used for rent rather than a mortgage payement.
So there you are….four good reasons to Hop the Fence and find the home that will suit you and your family.