The 3.5% Solution - Buy in Davis, CA with 3.5% Down

We’ve all been hearing about how rotten the real estate market is right now. The headlines are relentless. I would like to tell you my perspective; I don’t agree with most of the headlines. This is a great time to buy or sell. Let me tell you about one of the opportunities for buyers; In fact, I like this opportunity so much that if my kids were out of college right now, I’d be helping each of them buy a house.

Currently, homes are priced lower than they have been in years and interest rates are at or near all time lows. In addition, with an FHA loan, you can buy with just 3.5% down (and all that money can be from a gift). In fact, it’s even better than that; there is an $8,000 federal tax credit for “first time home buyers” (if you haven’t owned a home in the last 3 years, you may qualify). To take advantage of this program, escrow must close by November 30.

And for sellers, yes, prices are down for the home you are selling, but also for the one you would like to move into. And potential buyers of your home have all of the perks right now that I just listed--and more.

All in all, if there is someone in your life who has an income and some credit (doesn’t have to be perfect, but showing consistent payments over at least a year), this is worth checking into. If you’d like more details, I can help.

And if the purchase or sale you'd like to make is in a town outside Davis, I'd be happy to put you in touch with an agent there.

That's my thought for today...