It's Buying Time Again, Big Time
by Broderick Perkins
If you've got the income. If you've got plenty of tenure on the job. If your credit is solid. If you can otherwise past muster at the mortgage loan desk. If it's cheaper for you to buy than it is to rent.
To witYes, there are lots of "ifs," but it's one of the best times in America to buy a home. And it won't last forever.
• Distressed homes – foreclosures and short sales sold at deep discounts – accounted for 34 percent of February sales, according to the National Association of Realtors (NAR). The bargain basement is open for business.
• Investors know a party when they see one. They snatched up 64.5 percent more homes in 2011 than in 2010 and now account for nearly one in every four homes sold, NAR reported.
• The second home market is back with a vengeance. Both investors and playhouse buyers are jumping on this bandwagon. They pushed vacation/second home sales up 7.0 percent in 2011.
• Meanwhile, owner-occupied purchases fell 15.5 percent last year.
Click here for full article
To witYes, there are lots of "ifs," but it's one of the best times in America to buy a home. And it won't last forever.
• Distressed homes – foreclosures and short sales sold at deep discounts – accounted for 34 percent of February sales, according to the National Association of Realtors (NAR). The bargain basement is open for business.
• Investors know a party when they see one. They snatched up 64.5 percent more homes in 2011 than in 2010 and now account for nearly one in every four homes sold, NAR reported.
• The second home market is back with a vengeance. Both investors and playhouse buyers are jumping on this bandwagon. They pushed vacation/second home sales up 7.0 percent in 2011.
• Meanwhile, owner-occupied purchases fell 15.5 percent last year.
Click here for full article
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