I love this quote from Ben Franklin, especially in light of the current real estate market. Here in Greensboro, NC, it is the best time to buy a home that I have ever witnessed. Interest rates are incredibly low, prices of homes for sale are also low and inventories are up. Yet, there are some that are still making excuses for not buying.
Let's just take a quick look at the numbers. Say you find a 3 bedroom, 2 bath single family home for $100,000. If you are skeptical that such a home can be found, just give me a call. One minute ago, I just conducted a quick search of our Multiple Listing Service for all homes priced under $100,000 with 3 bedrooms and 2 full baths. It returned a list of 1,004 homes! So, buying a home that meets this criteria is very easy to do in Greensboro's market today. Depending on your financing and downpayment, you can expect to pay approximately $420/month in principal and interest.
So here are my questions to you. If you are currently renting, are you paying more than $420/month? I would expect that you are, especially if you are in a 3 bedroom, 2 bath single family home. If you are considering becoming a real estate investor, do you think you could rent such a property for significantly more than $420/month? With compelling numbers like this, what is your excuse for not becoming your dreams a reality today?
As an real estate investor myself, I walk the walk. If you would like to discuss buying or selling a home in Greensboro, NC or throughout the Triad, please contact any of the members of Team Leung today.