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When Real Estate Matters . . .Connect to The Treas Team!

by Jerel Treas

Home sales in the Northern Kentucky and Greater Cincinnati region have started the year on a very positive note.  Northern Ky. sales were up 16.5 percent!

The increase in the number of homes sold shows the continued stabilization of our local real estate market.  In Northern Ky. there were 226 homes sold in January, which is up from 194 sold in the previous January, 2010.

Treas Team believes the market is recovering and home prices are becoming more realistic.  This provides a wonderful opportunity for buyers to become homeowners and for sellers to move up or down size as to their personal needs.  We are working for you everyday and encourage you to connect with us to assist you in your buying or selling process.

Should I Buy a Home Now?

by Brad Treas

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

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The Treas Team
Huff Realty
60 Cavalier Blvd.
Florence KY 41042
Jerel: 859-653-2869
Brad: 859-801-1088 - Sally: 859-653-4916