For years now you have heard that its time to buy because home prices and interest rates are at all time lows….but many of you have been skeptical that we just haven’t hit the bottom yet. The reality is that we are sitting in the middle of opportunity that we never imagined was possible. According to the California Association of Realtors, the first time home buyer affordability is at a record high of 69%! While many homeowners have had to suffer incredible losses in their home equity or even their home itself, many others that had in the past considered themselves strictly renters for life due to lack of ability to even come close to qualifying are now moving into the potential buyer category. For many of you that thought you would never be able to buy in this area, or your children would have to move out of state to be able to buy are now presented with the golden opportunity to not only purchase a home, but invest in their future.
I don’t mean to take anything away from the thousands that are heart broken and struggling with the loss of their home. For many though this is a time for growth and possibility. A time to make that big step and purchase their first home. And with the bittersweetness of loss filled with opportunity, let us encourage those that are now able to purchase to embrace it!
To read more on the home buyer affordability read the full article here: http://www.car.org/newsstand/newsreleases/q4hai/