With the passage of the economic stimulus package, many home buyers are taking advantage of the opportunity to get an FHA (Federal Home Administration) loan.
FHA loans had lost their popularity especially in our high-cost areas of California in the 1990s, as home values began inching upward, surpassing FHA mortgage limits.
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Here are the
Top Ten reasons why this market makes is primed for purchasing
1. Selection, Selection, Selection: Regardless of the price range you are in, there are plenty of houses from which to choose. Just a few years ago the beach resale inventory was at a bare minimum. As a buyer you were forced to make compromises if you were going to purchase a home. There is now great selection of single family homes, condos, and townhouses. Lots of options means you win.
2. Peace has come to the Bidding Wars: In 2005 we saw people making offers on numerous homes at a time. They would lose the first nine to the 'feeding frenzy' that existed. Only occasionally these days do we see a home go into multiple offers...and that usually happens because the Sellers have priced the home very competitively.
Continue reading "Is now a good time to buy a home?" »
With the passage of the economic stimulus package, many home buyers are taking advantage of the opportunity to get an FHA (Federal Home Administration) loan.
