Why Buy Now? Folsom CA Real Estate Tips - By Folsom Real Estate Expert Alicia Naiman
The housing market is currently in a cyclical downturn, although Folsom CA real estate has not been hit as hard as some Sacramento county areas. Conditions are ideal to purchase a home, especially for first-time buyers. Here's why:
- Interest rates are at historical lows
- Home prices have decreased, due in part to REOs and Short Sales
- There is a large inventory of homes on the market to choose from
- An $8,000 tax credit is available to qualified first-time buyers who purchase before Nov. 30, 2009. Find out more
- Some states are offering special short-term tax credit loans to help buyers with upfront closing costs or downpayments. Find out more
The best way to build household wealth is to own a home. Once you become a home owner, you are able to take advantage of the generous tax deductions that homeownership offers, and you begin to build equity in your property. As your property builds in equity, you can use those gains to sell your starter home and afford to move into a bigger house.
With so many homes on the market to choose from, your best strategy may be to scale back expectations for your dream starter-home. Instead of trying to buy a 2,000 square foot home, consider shopping for a 1,500 square foot home.
Rents, along with the cost of living, will always continue to climb. So no matter what conditions in the housing market are, the sooner you make the jump from renter to home owner, the quicker you begin to create and build up wealth for your family. After a few years, you will be able to leverage this investment and buy a larger house.
For complete information about the Folsom, CA real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Folsom CA Real Estate at http://www.livinginfolsomtoday.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than happy to answer them!
Why Buy Now? Folsom CA Real Estate Tips - By Folsom Real Estate Expert Alicia Naiman
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Folsom CA Real Estate, folsom ca agent, folsom ca homes, folsom california real estate, folsom ca tax credit, folsom ca first time home buyer
