Consumer Confidence is at an all time low, even in the Philadelpha Real Estate Market where there has never truly been a serious drop in home values. But the bottom line is this, people who qualify for home loans will get loans and will be able to purchase a home. Good Credit, 3.5% Down Payments, Good Work History and Buying a home you can truly afford are the key elements. In the past, people were buying homes they could not afford with adjustable rate mortgages, balloon payments, and interest only mortgages. This is something that definitely contributed to our situation right now. Its time to get responsible about what we can afford in a home and take the steps to improve our credit, save the down payment and closing costs and buy a home that is realistic for our budget. Right now, housing prices are optimal for buyers so try and fight the urge to ride the fence. Now is the time to buy. You will watch your investment and equity grow over the few years to come when our economy improves… then you can upgrade if you like. Buy low, sell high, isn’t that what we always hear from the financial experts; lets use that as a home buying tip!
Carmel Archdekin, Weichert Realtors-Liberty
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