Is Now A Good Time To Buy

Many people are wondering if now is a good time to buy a new or their first home, with the rising prices and interest rates. In my opinion yes it is! The rising prices have slowed down and are not taking big jumps like they were. As for the interest rates on home loans going up. Over the last 4 decades the average mortgage interest rate has been 8-9 percent. With the average interest rate of about 4 1/2 percent for a conventional loan right now you could purchase a home for $200,000 with 20 percent down or $40000, and have a monthly payment of about $811 for interest and principle. Over the 30 years of the loan you would pay $131851 total interest. Compare that to the a loan at 9 percent for 30 years your payment would be about $1287 a month and you would would pay a total of $303463 in interest over the 30 year. That's a savings of a whopping $171612. For a loan of the same amount at 5.5 percent your payment would be about $908 interest and principle with a total loan amount over the life of the loan of $167046. Along with that Fannie Mae is offering money to help with closing costs to non investors. You may be qualified to receive up to 3.5 percent towards your closing costs.

Recently Sold Las Vegas Home near Summerlin

I recently sold this 3 bedroom, 2 bathroom home with a 2 car garage near Summerlin. It was listed for $195,000.00 and closed for $200,00.00 in less than 60 days. It had a solar heated pool and hot tub with a RV gate. There was a lemon, orange and pomegranate trees on the property. The back yard with the pool and hot tub had 3 raised bed flower beds

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