Five Reasons To Buy a Home in Cabot!
You all have heard the bad news about the economy and the housing market. It is shoved in our face daily. No, it's probably not the best time to sell a home. The same reasons it's bad to sell, makes it a great time to buy a home. Here are the reasons why it is a great time to buy a home in Cabot Arkansas.
Interest Rates- Buyers that I have been working with lately have been getting around 5%. Some get quite a bit lower and some get a little higher, but most are around five percent. That is an incredible interest rate considering in 2007 they were in the 6%-7% range.
Foreclosures- Cabot has several foreclosures that are great deals. Some of the foreclosures on the Cabot market right now are move in ready.
Home Prices are Lower- Luckily, the Cabot area has not seen some of the decreases in home prices like other areas, but prices are lower then a couple years ago. Sellers are more willing to negotiate. Sometimes they can't negotiate on the price so they will find other ways to make up for it. They will throw in the fridge you ask for. They may be willing to go the extra mile to hang on to the buyers they have.
$8,000 Tax Credit to First Time Home Buyers- That speaks for it's self. That is $8,000 in your pocket for next years taxes if you are a first time home buyer and buy before Jan. 1 2010.
The Housing Market will Recover- A home is first and foremost something you live in, but it is also an investment. Right now, when the market is down is a great time to make that investment. Most all economist agree the housing market will recover. Here is a link to an article on msn money about the outlook on the U.S. real estate market.