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10 Reasons why you should buy a home in Lexington, Kentucky

Are you tired of the doom and gloom about homeownership

Sure, I agree that I don’t have a crystal ball to look in and tell you if the market will get lower, but I will tell you that it will get HIGHER.

1. You can get a good deal. Maybe you’re looking for a foreclosure or a short sale. Today is the day to get a great deal.  You may think that you have to get a condemned house to get a bargain but there are lots of homes in very nice areas of Lexington for sale for a great price.  Some of these homes are not yet on the market and go very quickly once they are on the market and that is why you need a Professional on your side watching the market for you and specializing in foreclosures and short sales I am the REALTOR® for you.  Are you looking for a good deal or a great deal?

2. Mortgage rates are GREAT. You can get a 30 year loan for around 4%.  Man, that is cheap money to borrow for a great investment such as a home.  Looking back a couple of years back rates were at 6.5% for a 30 year loan .  That is a HUGE savings on a monthly payment for the exact same house today and then.  Have you been pre-approved? It only takes 5 minutes of your time.

3. Tax incentives. Not only are you not paying for someone elses mortgage payment but it’s yours and you get to deduct the mortgage interest that you pay from your income taxes.  There are several tax breaks when you itemize your deductions rather then taking the standard deductions.  I would consult with a CPA for the details and I can help you with Professional’s in that business that I have worked with in the past.  Call me for details!

4. No more asking the landlord to do something. Maybe you are tired of plain colors and want to experiment in different rooms.  It’s your home no more asking, (unless your married) LOL!

5. You’ll get what you’re wanting and not compromising. A lot of times you will compromise things and features that you are looking for if you are renting or buying in a sellers market but in today’s market you can be a little picky on what you will not compromise.  You may want to be in a specific neighborhood and you think you cannot afford any homes but in today’s market may be another story.  What neighborhood would you like to be in?

6. Inflation is coming. Buying now allows you to not only get a great deal, great interest rate, but it also protects you from when inflation hits.  A lot of people don’t want to talk about this but it’s coming with all of the bailouts that we have seen.  Just remember this someone has to pay for it why not buy low today and when it hits you won’t kick yourself for not buying.  Do you understand how inflation works?

7. It’s one of the lowest risk on your investment. I say this only if you are looking for a long term investment.  Real estate has traditionally appreciated in value and average of 4% a year but times have changed and it’s not yielding quiet as much but as I stated a minute ago for a long term investment it will definitely benefit you.  Several investors will buy in today’s market and will get a great buy and in the future those investments will pay for their kids college tuition and/or retirement in the future. Would you like to know how to start your investment?

8. It’s forced savings. If you are renting a home or apartment for $1,000 a month and can have a very nice house for that same amount what would you do?  What are you doing Now Now? If you could rent a home for $1,000 and couldn’t buy a home for a $1,000 a month in a similar type home then I would understand why you are renting but apartments and rental homes in Lexington are roughly the same price you could be paying on your own mortgage and not someone else.  Using this scenario you would have paid $12,000 in one year for someone else to benefit from it.

9. There is lots of inventory. One of the best things about this is there is a LOT to choose from. The National Association of Realtors puts the current inventory at around 4 million homes around the country.  Although there’s not that much inventory here but you can be picky.  Are you a picky person that want options?

10. The market will come back to a sellers market. The demand and supply will meet eventually and when it does the likely hood of having as much bargaining power will be slim.  In some cases this is already becoming true but not in all price ranges.  If you look back at 2 years ago at the market and look at it now, times are definitely different.  Are you a homeowner?

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