Vacaville Real Estate home prices vs rental rates: Doe's it make sense to rent when you can own a home?
In today's market interest rates are at an all time low. Prices of homes are down from an all time high. The housing market in Vacaville appears to have stablizied, which may indicate we are at or near the bottom of price reductions.
Department Of Real Estate's chief economist Leslie Appleton Young in a recent meeting with me made these statements.
All fundementals are sound:
1. Prices are low.
2. Inventory is good.
3. Interest rates are lowest in history since 1970
Homes prices are at or near replacement cost, it makes more sense to buy a home then it doe's to rent.
If you pay rent for the next
5 years here's what you'll pay out, please keep this in mind as you pay rent you are paying off someone elses mortgage. Helping your landlord pay for their investment is perhaps noble, but; is it wise for your financial future?
$900 your monthly rental payments will = $54,000 after only 5 years.
$1,000 = $60,000
$1,100 = $66,000
$1,200 = $72,000
$1,300 = $78,000
$1,400 = $84,000
$1,500 = $90,000
$1,600 = $96,000
$1,700 = $102,000
$1,800 = $108,000
$1,900 = $114,000
$2,000 = $120,000
Vacaville Real Estate homes for sale up to $200,000
Vacaville Real Estate homes for sale from $200,000 to $300,000
Vacaville Real Estate homes for sale from $300,000 to $400,000
As you consider the numbers above you can do multiplications out 10, 15, 20, 25 or 30 years. The amount of rent money you'll pay is stagering. Now consider this? You have to pay to live somewhere anyway, so why not own the home? You can own a home and have the lowest interest rate at the same time.
Yes many people in the past few years lost money in the housing market. (They bought when prices were high) Vacaville Real Estate, Just Foreclosures
The old addage applies today,
buy low (today's market) sell high in the next rising market. Yes the prices of homes will rise, they always do. Today's market offers more then just price benefits. Interest rates are below 4% this is an amazing time to buy real estate.
To find out more about how you can take advantage of this combination of events Low Prices and Low Interest Rates follow this link.
Information is brought to you by Terry Hughes, GRI, SRES, CDPE (707)-249-8688
For more information about Terry Hughes follow this link
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Terry Hughes
RE/MAX Gold
(707) 249-8688
http://www.solanohomefinder.com/
http://travisafbhomes.com/
http://travisloans.com/
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# posted by
Terry Hughes @ 12:51 AM
