Does Buying a Home Make “Financial Sense”

by Mesquite Realty on August 21, 2009

Mesquite Nevada 89027

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According to a National House Pulse Survey despite the challenges in the economy 83% of Americans believe that it is a good decision to to buy a home and that home ownership is sound investment.  75% of those surveyed also believe now to be a good time to buy a home.

Among renters nationwide 33% are thinking more about buying a home than just one year ago. The survey also showed a growing number of Americans feel the real estate market has stabilized, while only 18% still feel that the real estate market is going to further decline.

The concern for housing affordability is the lowest since the poll began seven years ago.  only 34% of those surveyed feel that housing affordability to be one of their biggest concerns.

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We at the Mesquite Real Estate Team find it interesting to hear the opinions about real estate.  Most recently Marc Roth from Businessweek.com posted an article called “Now is the Perfect Time to Buy.” He says, “There is an opportunity in residential real estate ownership unlike any we’ve seen in quite a long time, a perfect storm of sorts that is unlikely to last much longer.”  He feels that it is a great time to “go real estate shopping.” We do have many Mesquite Nevada homes for sale at this time and the prices are at or below what many sold for in 2000-2001.

With news today coming from the Las Vegas Review Journal saying that “Nevada foreclosures lead the nation.” It claims that Nevada in the second quarter of 2009 had a foreclosure rating of 3.7%. It also had the second highest delinquency rate behind Mississippi. Other States like Florida and Arizona were not far behind. It is estimated that home prices may have plummeted as much as 40 to 45 percent for typical homes and even more in some areas. Mesquite Nevada homes for sale have come down in asking price. The actual sold price we are seeing is less than $100 per square foot on many bank owned properties. Homes for sale in Mesquite are typically not older than about 1995, with many newer than 2000.

Mesquite property

Tips to help Home Buying make “Financial Sense”.

  • We have opportunities in Mesquite Nevada to buy homes for less than what you may pay in rent.
  • There are still loans available for many, such as a USDA Rural Development loan that many are using in Mesquite to buy homes with little down.
  • There is a $8,000 tax credit for first time home buyers and those that have been renting for a few years.
  • We have Mesquite NV homes for sale that are 1/2 the price from 2005.

We have helped hundreds of people in the past.  With years of working with Mesquite Nevada homes for sale we can help you find your next home or condo. Home buying should be an enjoyable event and we strive to make it that way.

This article was written by the Mesquite Real Estate Team from Bowler Realty. Bowler Realty is licensed to sell real estate in Nevada and Arizona. We are members of the Mesquite Real Estate Association and belong to the Mesquite Multiple Listing Service.

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