5 REASONS TO BUY A HOME NOW

1. No one knows what is going to happen to housing prices or when. Interest rates are still low and it’s possible these may be the lowest home prices ever.
2. If house prices do go down next year, how long do you plan on being in your new home? Three years? Five to ten years? Unless you plan to sell your home in the next year it’s irrelevant whether prices go up or down.
3. Will prices go up or down in your area in the time you plan to own your home? History proves in most areas prices tend to increase over time.
4. What if house prices go down but interest rates go up? Even if house prices are lower your monthly mortgage payments may be higher for the same home.
5. If you are buying and selling a home in the same market everything is relative. Sure if you wait to buy a home next year the price may be lower, but the price of your home will also be lower.
With low prices and low interest rates now is the time to buy a home.

The above chart shows residential sale prices  from March 2009 to February 2011.  Prices have risen slightly from February 2010. Prices are still very good and reflect a buyers market.

Vancouver Island MLS Sales March 2011

According to the February 2011 MLS Sales Summary the average home is going for $341,003 making the Comox Valley real estate of the best places to buy right now. If you’re looking for a home or commercial real estate call Comox Valley Realtor Sherill Barr at (250) 650-2277