Attention Renters – Stats show it’s time to buy
January 19, 2009 – 9:33 amI’ve always had a thing for numbers. It’s amazing what you can do with them. This morning as I ran my Monday morning stats I discovered a turn in the market. FINALLY!
As of this quarter, you can purchase a typical 3 bedroom, 2 bath home for the same price as renting.
Sure, you could have done that last year too, if you wanted to commute a hour or more to work every day. But now you can have your cake and eat it too.
Here’s the proof:
James Island: There are currently 49 3-bed,2 bath houses for sale under $250,000, 5 houses in the $185,000.00 range.
Mt Pleasant: There are currently 17 3-bed,2 bath houses for sale under $250,000, 9 houses sold recently averaging $185,000.
Downtown: 5 3-bed, 2 bath houses under $250,000. 1 in Wagener Terrace recently sold for $100,000.
North Charleston: 78 3-bed, 2 bath homes under $250,000, 58 around $185,000 or less.
AND THE BEST DEALS AROUND:
West Ashley: 104 houses currently priced under $250,000, 23 under $185,000.00
Are the deals going to get better? Yes and No. Yes the prices may go down further, but given the current indicators, interest rates are expected to rise in the 2nd and 3rd quarters. AND, June is the deadline for the FHA $7500. downpayment assistance program.
SO, if you have a credit score of 720, a good job, and a decent debt to asset ratio, STOP RENTING!!!
It’s time to buy your slice of heaven. We are currently qualifying first time home buyers for incredible interest rates. With decent credit the homes above could be yours for around $1200.00 per month.
Let me help you. Call our team today or click here to get qualified.
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