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Austin Mortgage - Buying a Home Today

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Austin Mortgage - Buying a Home Today - With summer quickly approaching, home buyers are becoming more confident that now is a better time than ever to purchase a home. Although there are other factors leading to potential homebuyers decisions to purchase in the summer, Austin Mortgage has compiled a list of several reasons why purchasing a home now is beneficial.

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									                      local             (512) 518-5200
                      toll-free         (800) 234-0907 www.austinmortgage.com




Austin Mortgage - Buying a Home Today
With summer quickly approaching, home
buyers are becoming more confident that now
is a good time to purchase a home. Listed below
are several pointers that Austin Mortgage
compiled to inform you about where the housing
market is now in terms of home prices, mortgage
rates, home sales and much more.


Where are we in terms of home prices?

We will start by answering the question that
everyone is pondering, where are we in terms of
home prices? Prices are lower now than ever before. As stated by the National Association of Realtors
(NAR) housing affordability index, looking all the way back to 1970, today’s home prices are more af-
fordable than ever before. With housing prices this low and the market slowly starting to pick back up,
no one can be sure when housing prices will start treading back up. Therefore, buying now or in the
near future may be perfect timing.


Is purchasing a home now a good idea?

If you plan to stay long-term, purchasing a home now is a good idea. While a home will always been a
great investment, today’s homes are not going to jump in value right away. The housing market recov-
ery stage we are in right now is going to be slow and gradual, according to the NAR’s chief economist.
On the bright side, if you are looking to live in your home for several years, your investment should
beat inflation. As stated by the Department of Labor statistics, from the year 2000 to 2010, the average
price of a home in the U.S. increased 3.4% per year, while inflation only went up 2.4%.




Copyright © 2012 Advocate Financial Services, LLC. All Rights Reserved. Privacy Policy & Terms of Use
The information provided in this marketing material is for information purposes only. A thorough investigation has not been conducted. The information here should not be
used for any real purpose. This material is not a committment to lend.
                      local             (512) 518-5200
                      toll-free         (800) 234-0907 www.austinmortgage.com




Page 2 - Austin Mortgage - Buying a Home Today

How are the current mortgage rates?

Mortgage rates are the lowest we’ve ever seen them. Although mortgage rates can vary from day to day
and there is talk of mortgage rates “inching” back up, have no fear. National average mortgage rates are
historically the lowest we have ever seen. Mortgage rates at their current levels are an attractive incen-
tive for first-time home buyers, buyers who want to move to a larger home, or others looking to sell
their current home and downsize to a smaller residence or condo. The most important thing to note
about mortgage rates is that the lower the mortgage rate, the more buying power you have because a
lower rate allows you to qualify for a larger loan amount.


Do I have the upper-hand?

Everything is still in your favor. Currently, the housing market is still a buyer’s market. In order to
quickly close the sale and move on, sellers are willing to negotiate things from price down to appli-
ances. If you are unsure where the seller stands in terms of negotiation, it doesn’t hurt to just test the
waters. Also, home builders are more eager to sell than ever before and are offering huge incentives
with the purchase of their homes. Some are giving away cash for furniture, refrigerators, and washers
and dryers. The reasoning for their incentives is that they are attempting to reduce their inventory of
unsold homes. As previously mentioned, one thing to remember is that things will change when the
economy regains strength and home prices begin to rise. At that time, sellers and home builders will
not be as eager to negotiate and could take back the upper hand.


Are there any tax benefits associated with purchasing a home?

Keep tax benefits in mind. Purchasing a home does provide some nice tax breaks. Both real estate taxes
and interest on your mortgage are tax deductible, as well as, any points paid to reduce your loan’s inter-
est rate. To find out more about tax deductions and whether or not you qualify, contact your tax advi-
sor.economy regains strength and home prices begin to rise. At that time, sellers and home builders
will not be as eager to negotiate and could take back the upper hand.




Copyright © 2012 Advocate Financial Services, LLC. All Rights Reserved. Privacy Policy & Terms of Use
The information provided in this marketing material is for information purposes only. A thorough investigation has not been conducted. The information here should not be
used for any real purpose. This material is not a committment to lend.
                      local             (512) 518-5200
                      toll-free         (800) 234-0907 www.austinmortgage.com




Page 3 - Austin Mortgage - Buying a Home Today

What are my options?

You have options. There are numerous homes available nationwide. In order to prevent frustration
and stress, think about what you want in a home, pick a price that you are comfortable with, and find
a neighborhood that suits you. There are many nice choices out there, and if you layout what you want
prior to your search, the process towards home ownership will be less exhausting.


Where do I start?

Getting started is easy. The first step is to qualify for a mortgage loan. At this time, your mortgage
lender will inform you how much they are willing to lend you for the purchase of your home. Once this
step is done, the home search becomes much easier because you know the exact size of your budget.
Also, by getting pre-approved you are letting the seller know that you are a serious buyer and ready to
make a purchase. The experts at Austin Mortgage are happy to help you through this process and pick a
loan program that best suits your individual needs.


THE BOTTOM LINE:

Now may be the best time to purchase a home. When you combine all of the factors listed above that
are in favor of the potential home buyer, it is easy to see why a great time to buy a home is right now.
It is currently a buyer’s market, and these historically low home prices and mortgage rates won’t last
forever.



To contact an Austin expert, visit AustinMortgage.com or call (800) 308-8503.




Copyright © 2012 Advocate Financial Services, LLC. All Rights Reserved. Privacy Policy & Terms of Use
The information provided in this marketing material is for information purposes only. A thorough investigation has not been conducted. The information here should not
be used for any real purpose. This material is not a committment to lend.

								
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