Affordability Today vs. Waiting At The Fence?

Monday, March 9th, 2009 @ 4:20 pm | Buyers, Homeownership, Market Trends, Real Estate, San Francisco, Sellers

Let’s put?waiting?at the fence?and affordability in perspective.

Waiting on the fence???is not all that is cracked up to be.

Historically speaking the affordability standard?has never?changed over the years for 1st time Buyers.?

What did change is those Buyers with no money (that bought in recent years) had a short time view on a long term investment.

Historically speaking - affordability is on the rise in San Francisco

Affordability?has always been reflected in?a comfortable monthly mortgage payment with?an initial cash investment into the property (i.e. down payment) and the peace of mind of?an interest rate?that is within one’s means now and for?the long term.

 

Go back 30 years or since 1971 and 30 year fixed rate loans from Freddie Mac can????t come close to today????s interest rates!

Today’s 1st time Buyers have a lot more going for them by getting off the fence?with lower interest rates, the federal government paying them to buy before 12/01/09 with a $8,000 tax credit,?and affordable prices.??

 

 

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