I recently read a great article in TIME MAGAZINE dated February 25, 2008. The title is “Ignore the Headlines” – ‘Except this one. Sure, housing’s in a hole. But there’s a potent case for buying now, whether it’s real estate or stocks’

The article discusses how buying now at todays incredible interest rates is equal to or better than if prices drop further over the next twelve months and rates creep up even just a small half percent. Interest rates are at an all time low and buyer’s should take advantage of it as their long term cost of ownership will be much lower and their payment will be the same. The article outlines two scenarios:

Buying Today at a price or $218,900 with a 5.5% interest rate will make your payment $994.31.

Buying in twelve months at a 10% price decrease (typical of the national average – Atlanta has not seen the same loss in value. In fact Average home prices in Atlanta rose 0.8% over the last year (according to NAR) This would make your purchase price $197,010 at 6% interest rate and a payment of $994.94.

BUY TODAY FOR $994.31 OR BUY IN TWELVE MONTHS FOR $994.94. In the long range you will come out much better by buying today and not wasting thousands of dollars on rent or other expenses that you will never recoup. Don’t forget the tax advantages or the built in savings of equity in your new home. If you plan to hold for more than three years NOW IS THE TIME TO BUY!

Call the specialists at PRIME REAL ESTATE to get your free, no obligation consultation! (404) 685-3774.