Why is it a GREAT time to buy a home?

…because low rates and amazing supply have created superb conditions for home buyers. For those of you who did not know these are things to know in regards to Real Estate right now;

1. You now have more homes to choose from then ever before.- Currently there are 3.75 million homes for sale in the United States. These record levels offer consumers the greatest choice in decades.
- However, inventory levels are falling, and the selection of homes will become limited once again. Former Federal Reserve Chair Alan Greenspan recently said, “Most of the negatives in housing are probably behind us. The fourth quarter should be reasonably good, certainly better than the third quarter.” According to these results, 2006 will be the third-best year on record for home sales.

2. Interest rates haven't been this low for nearly 40 years
- At 6.4 percent, the average 30-year fixed rate mortgage rate remains near 40-year lows. This is more than an entire percentage point below 2000 levels. For example a $250,000 loan, a drop from 7.5 percent to 6.5 percent means an annual savings of $2,000.

3. Real estate is a great investment
- The average home value increased by 88 percent over the last ten years.
- In the decade to come, the number of US households is expected to increase by 15 percent, which means housing will stay in high demand.

While conditions for buyers are perfect now, that is likely to change next year as sales pick up, prices gain traction, and conditions improve for sellers. In today's real estate market, the best time to buy is now. For advice on Real Estate in your area please contact us at Nolting Real Estate by calling 636-391-9997 and/or visit us on the web www.NoltingRealEstate.com.