Opportunities for Buyers

“INFLATION IS AS VIOLENT AS A MUGGER, AS FRIGHTENING AS AN ARMED ROBBER, AND AS DEADLY AS A HIT MAN.”
~ Ronald Reagan

Wow, I made a major purchase the other day- I bought a tank of gas!
With the again rising price of oil on everyone’s mind it is hard to focus on the good things that are happening!
The above quote from former President Ronald Reagan was made in the early 80′s when interest rates for a 30 year fixed rate mortgage were as high as 16.5% and a “great deal” was 14.25%.
It is hard to focus on the opportunities available in today’s economy when we feel our cash being drained at the gas pump.
But, there are opportunities for today’s homebuyer.
Here are some of the opportunities:
1- Lowest real estate prices in over 5 years.
2- Great interest rates.
3- Low down payment options.
The greatest equity gain in the last 20 plus years occurred in the early 80′s when buyers bought in the “worst possible market” and then when the market changes- rode the equity to the top.
Presently, 100% financing with no PMI insurance is readily available with financing guaranteed by the United States Department of Agriculture and is commonly known as USDA financing.
This financing DOES have both income and geographical limitation but 97% of North Carolina is eligible for USDA financing.
Recognize today’s market and understand that opportunities really do abound!
Today there is much change and opportunity- just be there to take advantage of it.

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