Do you read the Wall Street Journal or Forbes? I trust them as valid sources of data, plus their reports are informative and factual. Recently I came across an interesting commentary strongly suggesting that now is the time to buy a home. It mentions several quotes from non-real estate professionals for those seeking financial advice.

According to The Wall Street Journal (WSJ) in their article It's Time to Buy That House, they wrote: "It's an excellent time to buy a house, either to live in for the long term or for investment income ... Houses aren't the magic wealth creators they were made out to be during the bubble. But when prices are low, loans are cheap and plump investment yields are scarce, buyers should jump."

Additionally, the WSJ blog Market Watch recently reported: "Now could be the best time in history to buy a home."

Capital Economics from Forbes mentioned: "The previous declines in house prices and the more recent drop in mortgage rates to record lows have created an unusual situation in which the median monthly mortgage payment is more or less the same as the median rental payment."

Let's compare renting vs. ownership. If rent annually increased 3.2% due to inflation, a $1,500 monthly rent payment translates into approximately $900,000 over 30 years. The same amount for a mortgage payment equates into a mere $540,000 with a fixed rate. WOW!

Forbes explained homeowner advantages during retirement: "Even with a dismal 1% growth rate over 30 years, a $300,000 property would appreciate well over $100,000 giving the homeowner an additional nest egg for retirement ... At a time when retirement is becoming much more challenging, an extra $400,000 (or likely more) can make a major difference not to mention the impact of NOT having to pay a mortgage. How much less would you have to save for retirement if you didn't pay the mortgage?"

So what's the bottom line? It's time to buy a home! You can trust these solid resources (as I do) when making financial decisions.

Warm & Sunny Regards,

The Michael Dillard Team

Cell: (239) 850-9805

Office: (239) 498-2888

Email: Michael@TheDillardTeam.com

John R. Wood, Realtors

26269 S.Tamiami Trail

Bonita Springs, FL 34134