Wednesday, March 24, 2010
5 Reasons to buy that home in Toms River, NJ, NOW!
In his excellent post, 5 Good Reasons to Buy that Home NOW!, Steve Harney details exactly why this may be the best time to buy a home. We’ve taken Steve’s 5 reasons and specifically applied them to buying a home in Toms River, NJ.
1) The Homebuyers Tax Credit
As of this post, there are 37 days left for prospective homebuyers to take advantage of the Tax Credit (up to $8,000 for “First Time Buyers” and up to $6,500 for “Move Up Buyers”). More good news; current home prices in Toms River, NJ, literally ensure the maximum Tax Credit! Even more good news; homebuyers ONLY need to be “under contract” by April 30th, 2010 and “closed” by June 30th, 2010! To see if you may qualify, please visit http://www.realstorynj.com/Home-Buyer-Tax-Credit#FTB
2) Low Mortgage Interest Rates Currently Available
The Fed announced they would discontinue buying mortgage backed securities effective March 31st, 2010. What does that mean for prospective homebuyers in Toms River, NJ? It means the rare, historically low, mortgage rates will begin to climb out of the 5’s and some even speculate we may see 7% mortgage rates again! For current rates visit http://www.bloomberg.com/markets/rates/keyrates.html
3) Location, Location, Location or Inventory, Inventory, Inventory
It’s the “Law of Supply and Demand”! With over 17 months worth of available inventory on the market in Toms River, NJ, homebuyers literally have their “pick of the litter”. That means; if NO other homes were to come on the market in Toms River, it would take over 17 months to sell off the existing inventory of homes at the current sales pace. To see more Toms River, NJ, market statistics, visit http://www.trulia.com/real_estate/08753-Toms_River/market-trends/#average_listing_price_chart_container
4) Real Estate Has Always Been A Good Long Term Investment
Even though home prices in Toms River, NJ, may continue to fall slightly in 2010, the real estate market has historically outperformed the stock market, including over the past decade! We are seeing price levels near the 2004/2003 levels in Toms River, which means when the real estate market rebounds (which it always does and some say it is poised to do so now), homebuyers in Toms River, NJ, could expect to see a return on their investment.
5) The House Is A Home First and An Investment Second
A “Return to Basics” value has replaced the “Credit Card” mentality of home ownership as a result of the “Great Recession”. Homebuyers in Toms River, NJ, are looking for the necessities that a shelter provides and the comfort of a home rather than “get rich quick”, flipping mentality of HGTV’s mid-decade seasons. A home in Toms River represents a marriage, family, childhood and/or a lifetime memory!
What Does This Mean To You?
If you have been thinking about or considering, whether or not this truly is “a good time to buy” a home in Toms River, and you are looking to settle down and enjoy the comforts of home ownership, then perhaps it is time to act and buy a home in Toms River, NJ, now?
Posted by Coldwell Banker Flanagan Realty at 3:07 PM