Why Buy Now???

Home prices have stopped their free fall and many markets have lower inventories of available properties.    The extended and expanded tax credit will end on April 30.    However, the major reason to buy now is the historically low mortgage rates which no way to go but up.

If you’ve been holding off making a real estate purchase, the flicker of hope that the housing market may be turning around may have you wondering if it’s finally time get off the fence and make a move.

Although home prices remain stable in the Highlands and Cashiers NC market, the threat of more foreclosures and short sales still loom on the horizon and may place some slight downward pressure on pricing.   More importantly, mortgages rates remain historically low and the tax credits that were offered to new buyers and expanded to current homeowners expire on April 30th.

Besides the loss of the tax credit, the biggest game-changer facing home buyers is a potential jump in mortgage rates.   If the Fed moves ahead with its plan to stop buying mortgage-backed securities at the end of March, the rate on a 30-year fixed mortgage is expected to increase nearly a percentage point from today’s 5.18% to 6.1% by the end of 2010, according to the Mortgage Bankers Association.    On a $450,000 fixed-rate mortgage, that’s an extra $261 per month.

Inventory in the Highlands and Cashiers area is stable with some foreclosure and short sale opportunities still available.   Don’t miss your chance to own your special place in the mountains of Western North Carolina before the market begins its normal cycle of increasing prices.      

For more information on foreclosures and short sales, or all properties available in the Highlands and Cashiers market, please visit our website at www.meadowsmtnrealty.com or give us a call anytime at 828-526-1717 to discuss your search for the perfect mountain home. 

About the Author
BERKSHIRE HATHAWAY HOMESERVICES MEADOWS MOUNTAIN REALTY has been serving the Highlands NC and Cashiers NC areas offering exclusive mountain real estate and country club properties since 2003.

We recognize that there are many important aspects to consider in making a real estate choice. With that in mind, we listen closely to the needs and desires of each individual customer and work diligently to find the ideal mountain property or to sell your property as efficiently and effectively as possible. However, our job does not stop there.

Once you have made your real estate decisions, we are here to help you in any way that we can. It will be our pleasure to familiarize you with all aspects of the Highlands and Cashiers communities, including home, professional and personal services as well as activities, restaurants, health care and shopping. We will go the extra mile to ensure that your experience in the mountains exceeds your expectations.

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