An Unbelievable Opportunity

“Buy Low, Sell High” is a familiar and sound investment strategy. Unfortunately, many of us either fail to recognize or act at the appropriate time, especially when it comes to the Buy Low part of the strategy. It is my opinion that a unique opportunity is going to exist in our local real estate market over the next four months. In fact, I believe a unique combination of events make the next four months the best time ever to buy a home in this market! Let me explain! Basically, three factors combine to create this opportunity.

1. Record Low Interest Rates Interest rates for home mortgages continue to be available at record low rates. At the time of this writing, rates for a 30-year fixed loan are in the 4 ½ - 5% range. At 4.75%, the monthly principle and interest payment on a $100,000 loan is only $521.65. Interest rates are forecast to increase, maybe significantly, in the not-too-distant future.

2. Affordable Home Prices Home prices in the greater Tulsa market continue to be among the most affordable in the nation. Furthermore, many experts are predicting dramatic inflation will occur during the next few years. When and if inflation rears its ugly head, home prices could rise quickly, making homes less affordable with every increase. On the other hand, equity in a home could increase dramatically.

3. The Tax Credit In November Congress extended and expanded the $8,000 Tax Credit for first time homebuyers to include a $6,500 credit for “Move-up” buyers who have owned a home for five of the past eight years. To be eligible for the Tax Credits, buyers must have purchased a home by April 30, 2010 and closed by June 30, 2010.


For more information contact me at slaunchbaugh@cbtulsa.com