This could be the best time in a generation to buy a home

This could be the best time in a generation to buy a home. Here’s why:

Housing affordability is the best it has been in decades.

Nationwide, average home prices are approximately one-third lower today than at their peak in 2006.

The cost to buy is very often less than the cost to rent a comparable property. In fact, buying is cheaper than renting in 98 out of America’s 100 major markets.

Interest rates are at an historic low, and today’s low rates can be locked in for the next 30 years.

The general economy appears to be improving, with employment increasing, median wages rising, and little indication of possible inflation.

Overall, conditions indicate today may be the perfect time to buy a home.

If you’re curious to see what’s currently for sale in your area of interest, start your search at www.a-team-homes.com

“More than 60% of remodelers reported increased demand for repairs and replacements of old components in the past two years, while more than half of remodelers said that the desire for upgraded amenities increased,” the survey found. “In contrast, more than 20% of remodelers said there was a decrease in customers remodeling to increase home values as an investment.”
Kitchen and bathroom projects remain the most popular remodeling jobs, with home owners increasingly upgrading both rooms and making major repairs as they decide to stay in their current homes longer. Nearly 50% of remodelers report seeing an increase in the number of home owners who undertake remodels to avoid moving compared to last year.

The other projects remodelers cited as most in demand right now:

• Window/door replacements (44%)

• Whole-house remodels (35%)

• Room additions (33%)

• Handyman services (31%)

Read more: http://www.houselogic.com/news/home-improvement/home-fix-ups-more-popular-upgrades/#ixzz1xJKpQMSI

Record-Setting Low Fixed Mortgage Rates Persist MCLEAN, Va., June 7, 2012 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates falling to new all-time record lows for the sixth consecutive week amid weak economic and job data helping to keep homebuyer affordability high. News Facts 30-year fixed-rate mortgage (FRM) averaged 3.67 percent with an average 0.7 point for the week ending June 7, 2012, down from last week when it averaged 3.75 percent. Last year at this time, the 30-year FRM averaged 4.49 percent.  15-year FRM this week averaged 2.94 percent with an average 0.7 point, down from last week when it averaged 2.97 percent. A year ago at this time, the 15-year FRM averaged 3.68 percent.  5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.84 percent this week, with an average 0.7 point, the same as last week. A year ago, the 5-year ARM averaged 3.28 percent. 1-year Treasury-indexed ARM averaged 2.79 percent this week with an average 0.4 point, up from last week when it averaged 2.75 percent. At this time last year, the 1-year ARM averaged 2.95 percent.   Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

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