Monday, April 6, 2009

Forbes Magazine says - buy a home before the economy recovers

Ten Things To Buy Before The Economy Improves:
Daniel Indiviglio, 03.31.09, Forbes Magazine
The deals you're seeing on everything from houses and cars to televisions and furniture won't last forever. The reason is simple: no buyers (to compete with).
Personal savings in 2008 were nearly six times greater than in 2005, amounting to $191 billion or 1.8% of the nation's disposable income. In 2009, annualized savings for January and February exceeded $450 billion, or more than 4% of disposable income.
For those feeling bold enough to bargain shop, opportunities abound. Some deals, like housing and automobiles, might be obvious, but others, like diamonds, might not be.
Big Ticket Items At the top of the list: 1.) Housing. This may be the best time in a generation to buy a home. According to the S&P/Case-Shiller U.S. National Home Price Index, fourth-quarter 2008 prices were down 25% from the four quarter of 2006. The stimulus bill Congress passed in February includes an $8,000 credit for first-time home buyers. According to bankrate.com, average
interest rates are beginning to dip below 5% for a 30-year, fixed-rate mortgage.
Let M1 Properties help you secure the best big ticket item to buy before the economy recovers further.

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