So the tax incentive to purchase a home has ended, and to that I say so what! 

The real estate industry is not going to crash, homes will still get sold, people will still need to move and they will need all of our expertise and knowledge in what is a very complex financial transaction.  People still need to have a roof over their head and the whole world is not going to become renters.  Someone has to own all those homes right? 

The tax incentive was not making every buyer buy, it was the icing on the cake and that’s it.  From my point of view, here is how I see things.

IT IS A GREAT TIME TO BUY BECAUSE…

1. Even if the home you buy today never appreciates, rent is forever and eventually a home is paid for.  Once that home is paid for, the biggest consumer expense, the cost to put a roof over your head is now gone!  If you own, one day your housing expense will be gone but with renting, it’s forever!
2. Overall, with every economic cycle, through all of the ups and downs, real estate has always recovered and appreciated!
3. Information from the Survey of Consumer Finances by the Federal Reserve indicates that most of the wealth in America is concentrated among homeowners, not renters!
4. You will stop making your landlord rich!  Think about it, even in depressed markets, the landlords still want to buy and rent out their homes.  They know the advantages of owning real estate and if you are renting, you are making someone else wealthy!
5. There is security in owning.  No more rent increases or restrictions on how you can decorate etc.  It’s yours so you are in control!
6. You will pay less tax, because in most cases, Uncle Sam lets you deduct the interest you pay and sometimes the taxes even the taxes. 
7. Interest rates are historically low.  The last time in history that rates were this low was back in the early to mid 60’s.  If you don’t remember, interest rates were in the 18% range back in the early 80’s.  Low mortgage rates make home ownership more affordable!
8. Renters that have been priced out of the market for years will buy.  Prices have gotten to the point where owning a home is at or near what they pay in rent.

Tax incentives don’t sell homes.  There is more to it than that.  It’s the right Realtor! That would be me--of course!

 If you have questions please feel free to call me.

928-254-8832