Is now a good time to buy a home? Yes!

If you are considering purchasing a new home
but are concerned about all the negative economic
news, you may be wondering if this is a good time to buy.

Here are a few interesting points to ponder:

Interest Rates: Interest rates are currently at
historical lows. Over the past two centuries, there
have only been 38 out of 203 years where
rates have been under 6.5%!

Buyer's Market or Seller's Market: The past
few years have been a “seller’s market” where
buyers often must compete in multiple offer
situations, homes sell for more than asking price, and
sellers aren’t typically willing to do property repairs
or contribute toward closing costs. Currently, this is a
“buyer’s market”…homes are on sale! Sellers are
much more willing to be flexible with offers and
provide concessions, resulting in greater purchasing
power for buyers.

King County Housing Market: According to
the Master Builder’s Association of King County, the
number of building permits issued over the past
three years has been significantly declining. Based
on the current number of building permits and
projected population growth, the Master Builder's are
projecting a shortage of 166,000 housing units by
2010. When demand for housing outweighs supply,
the end result is increasing home prices.

These factors represent a great window of
opportunity for buyers in today’s housing market!