Should You Buy a Home Right Now?

	Pride of Ownership

Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, turn up the volume on your CD player, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. It's making an investment in your future. Here's a neat consumer information website to help you and provide a virtual home binder.www.HouseLogic.com

HERE ARE THE REASONS NOW IS A GREAT TIME TO BUY A HOME watch the video

1) Interest Rates are at 50 Year Lows
If you can borrow at 4.5% or 5% over 30 years, many purchases start to look appealing. Especially if we get a hefty dose of inflation down the line.
If that happens, your monthly payments will be low and you'd get to repay the principal over time with devalued dollars. That's a double win.

	Historical Low Interest Rates

2) Affordability is better than ever
According to the National Association of Realtors' housing affordability index, homes were more affordable in December than at any other point since the group started the index in 1970. The affordability index is a measure of the relationship between home prices, mortgage interest rates and family income.

3) Mortgage Interest Deductions
Home ownership is a superb tax shelter and our tax rates favor homeowners. As long as your mortgage balance is smaller than the price of your home, mortgage interest is fully deductible on your tax return. Interest is the largest component of your mortgage payment

4) Expanded Tax Credit
The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers.


SO DON"T HOLD BACK--SHOP WITH US FOR A HOME

Buying a property at auction is fast emerging as a popular method of buying property.

	Buy a Home at Auction

Thousands of bargain hunters and professional investors are turning to real estate auctions to find their perfect property at affordable prices.

But research is the key, and novices keen on buying at auction should carry out sufficient checks before the hammer falls.

We offer the following advice on how to make the most out of buying at auction:

* Research the real estate for sale. You can either contact the auction house or search online for details of all the properties for sale at auction.
* Arrange to view any of the lots you are interested in buying and research the property thoroughly.
* Properties being sold at auction are being sold "AS IS" and may be in need of improvement, so make sure you are aware of how much time and money needs to be invested in the property.
* Carry out thorough checks on the property in question, including land, legal and structural surveys. It is best to seek advice from a professional.
* Sort your finances. If you successfully bid for a property, you will need to pay a non-refundable 10% deposit on the fall of the hammer and the balance within 28 days.

Let Father Time® Auctions be your solution.

Learn more:
Call to learn about buying a home at Auction 314-962-4200 or write Father Time® at sold@fathertime.com

Home Office:
Rick Bauer, Auctioneer, AARE, CDPE CES, Realtor, GRI, CRTS, CAGA
Paul Roesch, Auctioneer, AARE, CDPE, CES, Agent, CAGA
Father Time® Auctions
2850 Lawndell Drive
St. Louis, MO 63144
314-962-4200 office
314-614-3841 mobile
314-962-2573 fax
Paul Roesch Mobile 618-407-8479
proesch@fathertime.com
rbauer@fathertime.com
www.fathertime.com

Certified Relocation and Transitions Specialist

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