It's a GREAT time to buy a home in the Rockford and Belvidere area.  Get your real estate while it's HOT! 

 

 

 

15 Reasons why it is a good time to buy a home within Rockford, Belvidere, and Boone County.

 

 

• “The strength of the Midwest market is evident during this transition year for housing

as we see prices in Illinois hovering about even and in many areas appreciating well.

On average the value of a home nearly doubles every 10 years so homeownership over

the long term remains a sound investment and a wealth-builder.” (IAR release,

11/28/07)

 

• “Chicago can anticipate median price increases of two to three percent for each of the

next three months (compared to the month last year).” (U of I/REAL forecast, 11/07)

 

• “Home prices in the vast midsection of America, from the Appalachians to the Rockies,

are affordable and, perhaps, even undervalued. The housing market correction is clearly

focused on transaction volume and not in home prices. “All real estate is local—

conditions vary from one city to the next.” (NAR forecast, 11/14/07)

 

• The FHA market share for home purchases is expected to further accelerate in 2008

helping first-time buyers enter the market with a safer and lower interest rate mortgage

product. (NAR forecast, 11/14/07)

 

• “Some may look back at this time and see an opportunity missed with interest rates so

low and a nice selection of homes on the market.” (IAR release 11/20/07)

 

• “Most Illinois homeowners are experiencing very healthy long-term gains in the value

of their homes, and real estate remains the single best investment over the long term

providing wealth accumulation especially for those who keep the home for a typical

holding period of six to 10 years.” (IAR release, 10/24/07)

 

• “The fact is that homeownership brings immense benefits over the long-term. Aside

from near-certain housing equity gains over a typical holding period of 6 years,

homeownership provides a great place to live and raise a family. In addition, academic

studies have demonstrated many social benefits of homeownership such as higher

student test scores, higher educational attainment and lifetime income, higher civic

participation, higher self-esteem from perceived self-control and even better health

conditions.” (NAR Real Estate Insights, 11/07)

 

• “Consumers will, in the end, discover the facts, and serious buyers will recognize a

unique opportunity to own a piece of America; there is a vast inventory of homes to

choose from in many local markets and a variety of safe mortgage products at

historically low interest rates.” (NAR Real Estate Insights, 11/07)

 

• NAR forecasts that prices will post a national price decline of 2.5 percent in the fourth

quarter of this year. By the first quarter of 2008 though, price declines will be minimal

as current widely available mortgage products filter through the system. (11/07)

  

• “While the recent rise in foreclosures and delinquencies has dampened consumer

confidence in real estate, these problems have been concentrated in the subprime

market. For buyers who qualify for conventional financing, mortgages are available at

favorable rates.” (NAR, 11/13/07)

 

• “Over 10 years, a $10,000 investment in the stock market at a normal 10 percent market

rate of return would yield $23,600. The same investment as a down payment on a

$200,000 home at a normal appreciation rate of 5 percent would return nearly 5 times

the stock market return, at $11,300.” (NAR, 11/13/07)

 

• “Those looking to buy now have an advantage with a large inventory to choose from

and room to negotiate.” (IAR release, 10/24/07)

 

• “On average, the value of a home nearly doubles every 10 years.” (NAR research,

11/07)

 

• “A typical homeowner had $184,400 in net worth versus only $4,000 for a typical

renter, according to data from the Federal Reserve.” (NAR Real Estate Insights,

10/10/07)

 

• “Real estate—buying a home—is the single best long-term investment people can

make. Along with wealth accumulation, a home provides shelter and security and a

sense of community.” (NAR “For the Record” 2007)

 

 

 

 

Contact me today to find your dream home!!

 

 

 

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