Is now the right time for you to buy?

The Lincoln market has really started to move since January 2011.  Buyers are tired of waiting.  Home owners are ready to move up.  Homeowners selling their homes and buying bigger homes is creating housing for mid-range and first time homebuyers. 

Interest rates and prices are still low.  Rates are still at 5% and below!  It is safe to assume that interest rates will start to rise this year.  As the demand increases, prices of homes will start to rise as well.  Economically, it is a great time to buy.  Interest rates and prices will probably not get any lower.

So, is now the right time for you to buy?    There are a few questions you should ask before starting the home buying process. 

1) Do you plan on staying in your home for at least 3 years?  If the answer is no, then make sure you will be able to sell your home for a price that will not require additional funds. Or you may want to consider renting out the home when you leave. 

2) How stable is your job?  If there are impending layoffs or you are seriously thinking about quitting, you should probably wait until things are more stable.  On a positive note, there is a special program out there that if you get laid off in the first 12 months of your home loan, the company will pay 4 of your house payments.  Make sure you ask for this program if you are concerned about losing your job.

If you are planning on staying put for a couple of years and your job is fairly stable, then now could be the right time for you to buy!  For more information, call us today.  402-419-6589