5 Reasons Why NOW is the Time to Buy a Home or Investment Property!

5 Reasons Why NOW is the Time to Buy a Home or Investment Property!
Many potential buyers are still waiting in the wings, not sure that now is the time to buy a house.  They are often afraid of buying before the market has fully recovered, and are concerned that they may lose out if they jump in too early.  Here are five reasons they should buy NOW and not wait…

1) Mortgage Interest Rates are on the Rise
While no one has a crystal ball, all of the technical, fundamental, and economic indicators point to mortgage rates moving up in 2013.  All likelihood is that we have seen the best rates already, and waiting is not going to bring them back.

2) Rents are on the raise
Recently, Zillow reported that rents increased in the U.S. by 4.2% over the last year.  When compared side-by-side, the costs of owning vs. renting a home easily show the benefits of home ownership. In Jackson County we’re seeing rents rising as well as a low availability of rental homes.

3) Prices are on the Rise
Home prices in most markets are stabilized, and starting to increase.  In Jackson County we have seen the median home price of existing homes increases by 8.4% in 2012. We still have cautious lenders and homes that are selling but not appraising, though prices are still rising.

4) Mortgage Guidelines Will Continue to Tighten
With government intervention in the form of new bills passed by congress the already cautious underwriting standards, caused by the 2007 collapse of the financial industry, are poised to become even more difficult for the average buyer to qualify for a home loan.

5) Federal Housing Administration (FHA) Loans To Become Much More Expensive
Starting on June 3rd, 2013, FHA will dramatically raise the costs of FHA Mortgage Insurance, making these loans much more expensive for the consumer.

The BEST time to buy a home or investment property is a combination of low interest rates and low home prices and it’s unlikely that we will see lower prices or lower interest rates than what we have at the moment!


Winterization Checklist

Winterization Checklist
Now that the leaves are falling and snow and rain has returned to Southern Oregon it’s time to prepare for winter. 6 tips for winterization of your home:
1. Prevent Plumbing Freezes
Disconnect and drain garden hoses. Most frozen pipes are a result of failure to disconnect hoses or turn off shut off valves. Insulate any exposed plumbing pipes.

2. Heating System
Don’t wait until the first cold snap to discover the heat isn’t going to work. Turn your furnace on and make sure it runs. While you’re at it change the furnace filters. If you have a monitor heater make sure you have lots of heating fuel. Do not allow oil to run low – you run the risk of running out and freezing pipes.

3. Fireplace
If your home has a fireplace, be sure the chimney is cleaned and ready for ruse before lighting any fires! Inspect the flue and make sure it closes properly to eliminate drafts when fireplace Is not in use

4. Windows Air-Conditioners
You should not have any air conditioners in the windows. If you do, remove them and replace the windows in their proper positions.

5. Roof and Gutters
Check your roof for loose or broken shingles and if you rent please report it to Expert Properties. Be sure your gutters have been cleaned free of leaves, sticks and debris, so you will have proper drainage.

6. Smoke Detectors, fire extinguishers and Carbon Monoxide Detectors
Test your detectors to make sure they work. Replace batteries if needed. Have spare batteries available.
Most importantly, enjoy the winter season with all its holidays, football, family and friends!