Why is NOW the time to Buy?

Insert Name & Logo

Why is NOW the Time to Buy a Home?

• Home affordability is at an all-time high• Mortgage rates are near all-time lows• Cost of homes is beginning to rise • Sellers are motivated• Financing is readily available • Owning vs. renting is increasingly favorable• Home ownership is still at the core of the

“American Dream”

Affordability Has Never Been BetterMonthly Payments are Low!

Affordability Rises to “Highest Level in Two Decades”

• According to the Home Builders/Wells Fargo Housing Opportunity Index, nationwide housing affordability during Q4 2010 rose to it’s highest level in two decades

• 73.9% of all homes (new & existing) were considered “affordable” to families earning the national median income, which is $64,400

Local Market Stats

• (insert your own here)

Home Loan Rate Outlook• Will gradually inch higher

over 2011

• But won’t be in a straight line

• And…2011 will be third best year on record, just behind 2009 and 2010

• Interest Rates + Price=Overall cost of a home

Who is Involved in the Home Buying Process and How Do They Help Me?

Mortgage Professional• Insert some bullet points

about you!

Realtor • Insert some bullet points

about your Realtor partner!

Who’s Working for Me?

Buyer’s Agent• Promote the best interests of the buyer• Fully disclosing to the buyer all facts that might affect or

influence the buyer’s decision to tender an offer to purchase

• Keeping confidential the buyer’s motivations for buying• Presenting all offers on behalf of the buyer• Disclosing to buyer all information known to the buyer’s

agent about the willingness of the seller to complete the sale or to accept a lower price

What Does the Seller’s Agent Do?

Seller’s Agent• Promote the best interests of the seller• Disclosing to the seller all facts that might affect or

influence the seller’s decisions to accept an offer• Keeping confidential the seller’s motivations for selling• Presenting all offers to the seller • Disclosing to seller all information known to the agent

about the identity of all buyers and the willingness of those buyers to complete the sale or to offer a higher price

Cost of Homes Are Beginning to Rise

• The cost of homeownerships is BOTH the acquisition price + the cost to finance

• Bob Weidemer, author of highly acclaimed book, “Aftershock”

illustrates the impact of rates moving higher…and how it impacts “fence sitters”

• If rates go up by 1%, a home’s value (and sales price) would have to decline by 11% in order to keep the same mortgage payment they could have had by buying right now at current home values and current home loan rates

Financing is Readily Available • 0% Down VA• 0% Down USDA Rural

Housing• 3% Down Fannie Mae

HomePath • 3.5% Down FHA • 5% + Down payment for

conventional financing *Some states have down payment

assistance programs for low-moderate income buyers

Renting makes little sense • Even though prices may still soften,

waiting to buy wouldn't make sense since the cost of owning a home may still increase.

• Mortgages may soon become much more expensive than they are right now.

• Owning a home is less expensive than renting a home in 72% of major U.S. cities.

• Rental costs are about to explode.

Rental Prices are Going Apartment vacancy has dropped significantly since the recession, which

ultimately drives up rental rates.

Rent is Movin’ on Up• When supply is rapidly

decreasing and demand is quickly increasing, prices have only one place to go – and that is UP! That is exactly where rental prices are headed

• In April The Wall Street Journal wrote, “Expect vacancies to continue declining and rents rising through the rest of 2011 at an even faster pace.”

Even Major Media Outlets Suggest NOW is the Time to Buy

The Wall Street Journal Why It’s Time to Buy

http://online.wsj.com/article/SB10001424052702304563104576361522020024248.html

CBS Money WatchWhy the Time to Buy is Now

http://moneywatch.bnet.com/economic-news/feature/real-estate-why-the-time-to-buy-is-now/6244377/

Forbes Magazine 9 Reasons to Buy a House Now

http://blogs.forbes.com/investopedia/2011/06/03/9-reasons-to-buy-a-house-now/

National Public RadioFor Many It’s Still a Good Time to Buy a Home

http://m.npr.org/news/Business/137029194

Thank You!

Insert Logo and Contact Information