Well... spring is just around the corner -- and Mother Nature certainly tempted us this weekend with temps soaring to 70! Not only is spring a glorious botanical event in Atlanta, I believe that this spring will be a glorious time for the Atlanta real estate market. Why? So glad you asked! Over the next 7 weeks, I will provide you with one good reason to run (not walk) toward home ownership during this period of unbridled opportunity that lies ahead.
REASON #1 - Homes have never been more affordable.
John Paulson is a multibillionaire hedge fund operator with Forbes.com. This guy made a fortune (or $2 billion) by betting against the housing market prior to and during the meltdown. He has changed his tune to proclaim the following:
"If you don't own a home buy one; if you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home. Your debt and interest payments will get locked in at record lows, while the price of your home will rise."
For individual home buyers, there are only a few facts that really matter: Can I afford this home? Is it a good deal? Does it meet my needs? So, it's a bit surprising that the most important housing statistic has gone largely unreported. According to the 2010 stats from National Association of Realtors (NAR), affordability is measured by the median mortgage payment on the current median-priced home as a percentage of the median household income. And...here it is..... it's lower than it's been in a whole generation. That's right. For most of us, it's lower now than it was for our parents.
More next week! If you want a copy of the eBook, contact me and I will send it your way!
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