Panama City Real Estate – Are you waiting to buy?

Posted on September 29, 2008
Filed Under Personal Insights | No Comments yet, your thoughts are welcome

There is so much discussion through out the real estate industry and news media about the economic bail outs currently occurring in our government.

While properties continue to be listed and sold, many of you have asked “When is the right time to buy?”

The answer to that question is as always: “Now is the right time to buy.”

Why?

Because if you need a home, it doesn’t matter what the economy is doing: You still need a place to live.

If you are renting and holding out buying a home because you think the property values will depreciate too much, then you’re not buying a home because you need one.  You are more likely purchasing for an investment, which is understandable.

However, you have to remember that while you are renting you are not considering two very issues:

You are not gaining any tax advantages that home ownership provides:

Home ownership has many advantages, one of which includes significant tax benefits.  When you are renting you are essentially paying someone else’s mortgage and providing them the tax benefit that you could be utilizing for your financial future.

You are not helping the economy:

Buying real estate is a major factor in our economy.  When potential buyers  remove themselves from the real estate market it affects many industries.  While the mortgage industry may seem to be in turmoil at the moment, there is still purchase/lending money available for those who qualify.  You can even find 100% loans from some lenders, if you qualify.

With this in mind, let me ask you all a few questions:

Are you waiting to buy?

If so, why?

We’ve seen this type of economy in our past and we’ve gotten through it.  We will get through this one also.

Buying a home is one of the most important and financially difficult decisions many of us make in our lifetimes.  However, we all need a place to live that is safe and may potentially provide us with financial stability for our futures.

Let me know your thoughts.

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Author : Jennifer Mackay - Posts:284

Jennifer Mackay is an award winning real estate agent and Keller Williams team leader in the Panama City Florida area. Her website: Panama City Real Estate provides guidance, information and free buying and purchasing features for registered visitors. Follow: @realtorjennifer | Facebook

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