NOW IS A GREAT TIME TO BUY IN MONMOUTH COUNTY We hope you’ll like it here so much that you’ll want to stay and become a neighbor! Right now is a very good time to jump in and achieve the American dream of home ownership. Pending home sales are on the rise, and buyers are getting into the market to take advantage of the current low-interest rates. Owning a home in a strong economy might have seemed like a dream, but right now it could become a reality. There are several reasons why now is a good time to buy, according to the Monmouth County Association of REALTORS®: Interest Rates Are Still Low—For Now Interest rates are still low but many economists believe that we will be seeing those rates rise in the future. As interest rates increase, so do monthly payments. Housing Affordability It is possible to find a good deal on a home you may not otherwise see in a different economy. If you have considered selling your current home to get the home you’ve always wanted, don’t hesitate. There is a shortage of homes for sale and buyers are in the market. With tight inventory conditions and sometimes inaccurate online listings, buyers should turn to a REALTOR® for expert advice and assistance in navigating today’s fast moving housing market. Rent vs. Own When people look at what they’re paying for rent and compare that expense with what it costs to own a home after taxes, ownership can become very attractive. A homeowner can typically write off mortgage interest and property taxes, deductions that are unavailable to tenants. Buying a home also locks in your monthly payment and stabilizes your finances with a fixed-rate mortgage. “The Monmouth County Association of REALTORS® website, www.MOMLS.com, is a great resource that lists properties, property details, open houses as well as REALTORS® to help you find the right home, in the right area, for the right price,” said Gloria Siciliano. “Buying or selling a home in today’s market involves many decisions, and choosing a REALTOR® to properly and effectively protect your interests is one of the best decisions you can make.” The Monmouth County Association of REALTORS® (MCAR) is a trade association currently serving 7,800 REALTORS® and REALTOR® Associates and more than 10,000 Monmouth/Ocean Multiple Listing Service (MOMLS) users. The Monmouth/Ocean Multiple Listing Service is a division of MCAR and works as a clearinghouse through which more than 990 local real estate firms exchange information on properties they have listed for sale. Together, MCAR members participate in about 40,000 real estate transactions every year. For more information, visit www.MOMLS.com. “All real estate is local, so don’t let national statistics dissuade you from jumping into the local housing market. Take the time to study the real estate in your area.” Gloria V. Siciliano, President of the Monmouth County Association of REALTORS® www.sparkvisitmonmouth.com 17
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