70 Percent Say Buying Now is Good

A survey by Fannie Mae shows that 70 percent of Americans believe it is a good time to buy a home.

That is up from 64 percent in January 2010.

Still, 33 percent–up from 30 percent in January–say they’ll rent next time around.

About 67 percent believe housing is a safe investment, down from 83 percent of people questioned in a similar survey in 2003.

Source: Reuters News (09/16/2010)

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Three Reasons to Buy a Home Now

Stocks are up 50 percent from the March 2009 bottom. Some commodities have risen dramatically. The only asset class left in the cellar is real estate, says Michael Murphy, editor of the New World Investor stock newsletter.

As a result, Murphy is advising investors to buy now for these three reasons:

• Desperate sellers: Both home owners and lenders are eager to unload a flood of foreclosed and underwater properties. Buyers with the patience to push through these complex deals can save a bundle.

• Little competition. Because most people don’t have what it takes to negotiate their way through short sales and REOs, patient investors are winners.

• Low rates. Mortgage rates are at their lowest level in 40 years. If you believe inflation is inevitable, lock in now.

Source: MarketWatch, Michael Murphy (08/19/2010)

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