Now’s the Time to Buy a Home

Carolyn Capalbo, a respected real estate agent in Northern Virginia said that now is the time for buying a home. The overall situation just couldn’t be better, especially with the interest rates and the prices of the homes are at their lowest.

She further admits that she is surprised home buyers seem to be taking a break today. A break! At this moment when purchasing a home is more advantageous for the buyer. When your finances are sound and you do have the capabilities to get a new house, grab the opportunities that have been sprouting on this side of the state.

Carolyn Capalbo has stated some of the great reasons why getting a home makes more sense today. First is that  although the government’s $8,000 tax credit may have expired, it should not be the only reason why you should hold back from making a home purchase. It is somewhat compensated by the historically low interest rates that are being offered this year. This has been predicted in 2009 by the banks and other financial institutions. There are more affordable home prices and low mortgage rates than ever before.

And when the interest rates are at the lowest today, then there’s nowhere else for it to go but up in the future. That is why it makes even more sense to purchase a home today to take full advantage of the low interest rates. Why should you wait longer when every passing month there is that probability that the rates will go up? Carolyn Capalbo, reminded us that even a slight change on the interest rate has a significant impact on the monthly rates.

She also said that the cost of a mortgage right now is at parity with current rental rates in most of the housing markets in Northern Virginia. What this means is it makes even more sense to just go ahead and buy a new home than just rent. We all know the disadvantages of renting. That you keep on paying monthly rentals for months or years ahead and the house will never be yours. Aside from the fact that you are very much limited with what you can do to the house because it is not yours in the first place. If you want to have your front re-painted, you will have to ask permission first. Now wouldn’t it be nice if you are the master of your own domain?

For those who qualify, the mortgage interest tax deduction is a very big tax advantage that will surely be beneficial to the homeowner. That means less payments to be made, more affordable home rates, and ultimately, more money in your own pocket to pay for other important things.

Carolyn Capalbo suggested that home buyers should start looking for their new home right now. Start with presenting an offer for your target home. And when you do, give an offer that is a bit lower than the asking price of the seller. As always, there’s no harm in trying.

Again, Northern Virginia homes are more affordable this year and interest rates are at their lowest. These two reasons alone should be enough to get you started on your home purchase so contact Carolyn Capalbo today.