JUPITER, Fla. (PRWEB) August 18, 2012
Making an investment in real estate is a smart move, financial experts say, and there’s no better time than the present to buy a home.
Because of reasonable prices and record-low interest rates, the National Association of Realtors reports its housing-affordability index has risen to the highest level in history.
The median price of a single-family home as of June 2012, the latest month for which figures are available, was $190,100 – down significantly from the market peak of $230,900 in June of 2006, according to the NAR. And interest rates for a 30-year mortgage are hovering below 3.6 percent, according to Freddie Mac. The all-time low occurred at the end of July, when the rate dropped to 3.49 percent.
Let’s do the math: If a buyer financed 80 percent of the median price -- $152,080 – the monthly nut would be $691. That beats rent any day of the week.
Another benefit of homeownership is tax write-offs. Mortgage payments include interest, which is tax-deductible. Renters can’t deduct a penny out of their monthly payment.
Realtors report a healthy supply of homes on the market but say that number will start to rise as prices continue to climb. That’s because homeowners who want to sell have been waiting patiently for the real-estate rebound so they can get their asking price, or close to it. As home prices rise, so do listings.
However, excess inventory should be cleaned out by the end of 2013, predicts the institutional-analyst firm Ned Davis Research. Then, housing starts will be on the rise.
All the evidence points to good news for the real-estate industry as a whole, and to homebuyers with decent jobs and the ability to obtain a loan. While there always will be risks with homeownership, the benefits outweigh them, experts say.
Waterfront Properties and Club Communities, a licensed brokerage in Jupiter, Fla., agrees real estate is a wise investment. It has dozens of agents who help homebuyers become homeowners every day. The firm’s real-estate specialists have excellent reputations and work step-by-step with their clients through the entire process.
Waterfront Properties focuses on Palm Beach and Martin counties – an area of southeast Florida known as the Gold Coast – and lists homes for sale in Palm Beach Gardens, Jupiter homes for sale and exquisite riverfront property in Tequesta.
South Florida is one of the hottest real-estate markets in the United States because of its beautiful beaches, Intracoastal Waterway and cultural vibrancy. For information, call Rob Thomson at 561-746-7272.