Is it a good time to buy a home?

"A monthly mortgage payment is often considered a savings account that helps homeowners build a net worth that is about 40 times higher than a renter" - Lawrence Yun, Chief Economist, National Association of Realtors.

Homeowners benefit on two fronts. Real estate has historically performed well over time. Owners build equity through home appreciation AND each mortgage payment contributes to loan principal reduction. Both are significant in building long-term wealth.

The media will have you believe it's not a good time to buy. Among the reasons they will sensationalize are limited inventory, interest rates are too high and housing prices are going to crash. The reality is that that are far more interested buyers than properties for sale. Every market is different. National real estate trends can't be trusted. Real estate has been and always will be based on location, location, location!

Reasons for owning a home are far ranging and include:

• Accomplishment - feeling a sense of pride and achievement
• Loved Ones - prioritizing those closest to you
• Stability - locking in a fixed rate payment
• Financial - growing your assets and net worth
• Comfort - enjoying features that enhance your lifestyle
• Privacy - having a space of your own
• Community - being part of a broader social group

June is National Homeownership Month. If you own a home, you can attest to the benefits of the above reasons and many other personal ones I'm sure. If you don't own a home yet, the process need not be intimidating. It would be a pleasure to discuss options and set you on your path to the achievement of being a homeowner!