Feb

16

(NAPSI)-For people ready to make the commitment and buy a home, the timing couldn’t be better. Buying conditions are more avorable than they’ve been in years: Home choices are abundant, affordability has improved, mortgages are available and interest rates are historically low. Even better, a temporary $7,500 tax credit is also available for first-time homebuyers. The bad news is that these incentives won’t last forever.

“Homeownership is an investment in your future. For people in a good position to purchase a home, buying now is a smart move,” says Lawrence Yun, chief economist for the National Association of Realtors®. “Current market conditions are ideal, creating a window of opportunity for buyers who want to become homeowners.”

Homeownership isn’t just financially rewarding-it also creates stability and provides many social benefits. Purchasing a home means investing in the community. People have a greater stake in what happens in their local area when they own rather than rent. Families and neighborhoods build lifelong bonds that create strong foundations for future generations.

“Studies have shown children of homeowners are stronger academically,” adds Yun. “There’s a certain comfort and security children feel knowing they have a stable place to call home.”

Homeownership also contributes to safer communities because owners have a lot more to lose financially than those who rent. Homeowners are much more likely to participate in local crime prevention programs and be involved in local civic affairs.

A recent study found that eight out of 10 economists agree that home prices will rise again in the next five years. Waiting too long could cost you the home of your dreams and you could find yourself looking back with regret, wondering why you didn’t buy when you had the chance.

A Realtor® can explain market conditions and help you take advantage of real estate opportunities. For more information, to search home listings or find a Realtor® in your area, visit www.realtor.com.

With low interest rates and an abundance of available homes, it can be a great time to turn those dreams of homeownership into a reality

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