With the continuing economic changes in our society it is more important than ever for every person to educate themselves on personal finances. Social Security may not be available for many of us when we reach retirement age and with the continued outsourcing of jobs and layoffs by major corporations it is vital that we each find a way to work toward becoming become financially independent.
A first step toward building personal wealth and gaining financial independence can be homeownership. I believe everyone can and should own a home. Whether you have a bankruptcy, foreclosure, bad credit or no credit you can buy a home. All it takes is determination, time and information.
You can find all the information you need on your own and even purchase a home on your own, but dedicated Real Estate professionals can make the process easier. A professional should be willing to help you no matter what your circumstances.
Most Realtors and mortgage professionals only get paid when they close on the sale of your home, so they have a vested interest in finding you a home and/or a mortgage that works for you. Don't let the embarrassment of exposing past credit mistakes keep you from moving forward to secure your future.
If credit issues are keeping you from moving forward today contact a lender. A good lender will educate you as to what you need to do to clear up any past credit problems. They can also give you a good idea as to how long it will take for you to be ready to purchase.
Real Estate is a great way to put your money to work for you to grow wealth. Read the excerpt below from Lawrence Yun’s The Long View written when he was the Vice President of the National association of Realtors Research about leveraging your investment:
"Because of the power of leveraging, a $10,000 (investment) used for a down payment on a typically priced home in the US at a typical home price appreciation of 5% will return $110,000 after 10 years. The same $10,000 invested in the stock market appreciating at 10% annual increases will result in $23,600. No wonder the data from the Federal Reserve shows consistent results year-after-year of the staggering difference in net worth between homeowners and renters. A typical homeowner had $184,000 in net worth verses only $4,000 for a typical renter.”
It is unusual for both home prices and interest rates to be low at the same time. This fact combined with the power of leverage makes now a great time to buy a home. Many home buyers who have been waiting for the right time to buy must agree since our Tampa inventory of homes for sale is very low. Most homes are selling quickly many with multiple offers.
When you are ready to explore your possibilities regarding homeownership we are to help. Please contact us anytime for home buying or selling assistance, general questions about Real Estate or to discuss the market value of your home. We look forward to working for you!
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