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Written by Stuart Orns
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Tuesday, January 24, 2012 |
I am Stuart Orns, President of Monarch. My colleagues and I will be using this format to share information and opinions about the business of Real Estate with you. Our goal is to provide interesting and relevant content that is useful to you across your ongoing interactions within the real estate community.
I’d like to start by reminding everyone about the benefits of home ownership! Through all of the negative media and downward trends of “residential real estate,” the advantages of owning a home seem to have been lost.
First and foremost, it is a great time to buy. Interest rates are at historic lows and desirable homes are as affordable as ever. Yes, it may be more difficult for some potential borrowers to get financing but a lot of qualified buyers are sitting on the sidelines waiting or thinking that prices may continue to fall. The seminal event to jump-start housing may not or ever be on the horizon so the time to start building equity in a home is now!
As history has shown us time and again, the economy, housing and stock markets are cyclical. What better way to be ahead of the curve than to buy now and see the financial benefit of home investment when the trend swings upward?
Remember that the interest on your mortgage payment is tax deductible.
Your home is your castle enabling you to fix, restore, build-- anything you want for your enjoyment. Additionally, owning a home provides a sense of comfort that you are part of a neighborhood and community.
At some point the market will clear and stability will return. Take advantage of the low interest rates and reasonable pricing now before the inevitable rush to get back into home ownership is upon us.
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The Monarch Blog