We really don't want you to find yourself 20 years from now saying: I wish I bought Las Cruces real estate in 2010. So we decided to try to convince you one more time.
Why Should You Buy Now? Here are some reasons I just read in a Wall Street Journal article.
You can get a good deal
This is a buyers market which means you can get a house at a bargain price now -- especially if you have a good Realtor with good negotiating skills. This is a buyer's market. There aren't many buyers out there which means sellers are fighting over them.
While the Las Cruces real estate market hasn't been hit hard in this recession, we're four to five years into the biggest housing bust in modern U.S. history. Will prices fall again? Sure, they could, but it doesn't really matter so much in the long haul. These prices are near the bottom, if they aren't already there.
Mortgages are cheap
Right now it's possible to get a 30-year home loan for about 4.3%. Just two years ago, they were about 6.3%. That difference cuts your monthly repayment by a fifth. These are the lowest rates on record. Now is the time that you ask yourself: Shouldn't I wait until they drop lower? No, these rates could easily go up with inflation, and if they drop again you can always refinance.
You'll save on taxes
If you itemize your deductions, you get to deduct mortgage interest from your income taxes, you can deduct your real estate taxes, and you'll get a tax break on capital gains when you sell.
Many people find these breaks mean owning costs them less than renting.
For these reasons and more consider seriously buying a home before the end of 2010. Are you still not convinced? Read our other blogs about buying in this buyers market or stay tuned for future articles where we'll try again.
For all of your Real Estate needs
The Evelyn Bruder Team is here to assist you.
Evelyn Bruder, CRS, GRI, ABR, E-PRO, Las Cruces' Only Cyberstar
Steinborn & Associates Real Estate (575) 522-3698