if you have plans of purchasing a home, now may be the best time. There are many reasons why now is the best time to purchase a home. First, there is an abundance of sellers. This means you will have plenty of choices. Additionally, the values of homes are cheaper too. This is because of the slower demand and fewer buyers in the market today. Also, interest rates are at or near historical lows. This means that futre payments you will make will no doubt be cheaper.<

You should no wait because the real estate industry is recovering. Home buyers are becoming more enthusiastic each and every day. This means that you might not be enjoying the same privileges in the near future if you decide to wait. There is no way of knowing if homes will stay this affordable. This is why today is the best time to buy a home.

Aside from the low prices on homes, interest rates are low because lenders are having a competition of their own. To make our terms more attractive, we offer lower rates. Why would someone want to buy when the rates are low? Below are a few of the reasons:

1. The monthly payments will be lower and hence more affordable.

2. Lower rates will reduce the possibility of foreclosure. Since the payment you will be making will be lower the chances of foreclosure will be reduced.

3. You will be able to pay your loan off sooner. There are options with lower rates to reduce the term of your mortgage and still have an affordable payment. This is more likely with lower rates and home prices being more affordable. <o:p></o:p></span>

Since this opportunity rarely happens, take full advantage of it. Prepare yourself by taking the steps in advance to be sure you dont miss the opportunity. You will need to make sure your credit scores are adequate to qualify for a loan. Try and pay off existing debt and budget your finances carefully. You will want to be sure you have a cushion of funds over and above your down payment and closing costs. You never know when you will incur an emergency situation.

You need to be careful when selecting a lender as well. Most lenders offer the same rates. However, they don't all offer the same level of service and integrity.

Now is definitely a great time to purchase a home for so many reasons. However, you still need to exercise caution with the choices you make.