So what's keeping you, really, from buying a house?
Santa Cruz area living
Santa Cruz will always hold a place in peoples' hearts. You love it and you hate. Great amount of beauty, diversity, things to do, poor paying jobs. So do you decide to forget it go for a great job and get a bland house in nowhwereville? Yes that is a choice that many choose, but if you do decide to stay, why don't you buy a home in Santa Cruz?.
Now is one of the best times to buy a home in the last 7 or so years. Consider the following items.
1) The interest rates on long-term, fixed, and adjustable mortgages are at historically low levels and your buying power is multiplied.
2) Consider all the choices of homes on the market today. While homes sit on the market for longer periods of time, you have more choices when it comes to selecting a home that meets your needs.
3) With the increase in the conforming loan limit soon be occurring, as a buyer you will be able to borrow at lower interest rates, a higher loan amount, which will reduce your buying costs to lower than ever before levels. Prior to the increase, the conforming loan limit was $417,000, and it is likely to be adjusted for Santa Cruz County a couple of hundred thousand dollars more. The elevated level is set to expire at the end of the year,so you had better act soon. The current spread between jumbo, or non-conforming mortgage loans and conforming mortgages is about three quarters of one point, so the savings can amount to several hundred dollars a month .
So there you have it, a recipe for a qualified buyer to get a great deal on many fronts. Good inventory of homes to choose from, accommodating sellers, even bank owned foreclosures and short sales, great interest rates, a government eager to help and assure financing is available.
Go ahead, take the plunge. Every big decision has some fears; this is one I think you will look back on and say why didn't I buy two. Happy Househunting.
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