If you are wavering in the decision of whether to buy Telluride real estate or not, then you may want to hear about the once in a lifetime buying opportunity that is arising. There has never been a better time than the present to take the plunge and invest on Telluride properties.
Here are the 7 BIG reasons why you should be keen to invest on properties right now.
1.The real estate market is now predominantly a buyer’s market. Home buyers have been given a great opportunity of getting the best home buying deals. There is a wide ranger of prime real estate properties that are priced lower than their appraised value. This is prime opportunity to get the best value from your real estate investment.
2.For those who are watching for the right moment to pounce, here is a bit of good news. This is also good advice for those who could not make up their minds. As of latest reports, the effective rate for a 30-year mortgage that is fixed rate is about 4.82% on the average. This is a big drop of 1% over the last year. You will expect the real estate industry is already ripe for a big turnaround as this is the lowest mortgage rate since 2005.
3.We have now an abnormally high inventory of home foreclosures. Mortgage lenders have been needing to rein in on their increasing number of foreclosed assets and selling is their best solution because it loses them the least amount of money. You can benefit from this poor situation if you look in the direction of foreclosed real estates.
4.First time real estate buyers receive government tax credits. A buyer who has not owned a real estate property for more than three years and fall within the prescribed income range can avail of tax credit equivalent to 10% of the real property home’s tag price without exceeding $7,500. These tax credits can be applied by the home buyer for his taxes for 2008 and 2009.
5.There is recent spike in rental rates due to increased demand for rented spaces. This is related to the increased preference of most families to rent home spaces amidst the difficulties that is hounding the real estate industry. In addition, renting property is also the best solution for people whose houses have been foreclosed.
6.With the very volatile and unpredictable losing businesses to the economy, real estate investment is the way to go. It is the safest investment especially for those who are still wealthy, who are also expected to gain windfall profits once the real estate market and the economy rises again. Economic indicators show that such event will occur within the next few years.
7.With the combined effects of low interest rates and reduced real estate prices, you are expected to get more value from every dollar you spend for properties.
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