FIRST-TIME HOMEBUYERS:  SHOULD YOU BUY NOW?

Housing may never be this affordable again.  Over the past few months, the market has created a unique opportunity for first-time homebuyers.  If you are renting, you should act now to take advantage.  Here are a few reasons renters should take a serious look at buying now:

IMPROVE YOUR LIFESTYLE
Home ownership is the best way to improve your lifestyle.  The ability to choose your own home, be your own landlord, and start saving for the future, is a great opportunity.  Maybe your family needs a yard, a garden, room to grow, new schools, or just a fresh start.

TAKE ADVANTAGE OF GREAT PRICING
Housing in Utah is affordable again.  More than ever before, the market is offering great pricing and incentives.  It is a buyers' market and this means you can find great deals on your new home.  Take advantage of today's pricing before it's too late.

RECEIVE SIGNIFICANT TAX BENEFITS
There are two great tax benefits available for first-time homebuyers.  First, the new $7,500 first-time homebuyer tax credit is only available for a few months.  Purchase before July 1, 2009 and the amount will come as a refund when you file your 2008 or 2009 tax returns.  In addition to this temporary benefit, each year homeowners can deduct their mortgage interest and property taxes.  This keeps more money in your pocket right away and each year that you own your own home.

AVOID RISING RENTAL RATES
Rental rates in Utah have been rising.  In Salt Lake County, they increased 9.2 percent over the past year.  Become your own landlord and stop flushing your money down the toilet.

LOCK IN GREAT INTEREST RATES
Interest rates are one of the biggest factors influencing the affordability of your monthly payment.  Right now, interest rates are near 30-year lows.  This helps make your first home more affordable and keeps money in your pocket.  For example, if you wait to buy and interest rates increase one (1) percent, your payment will increase by $165 per month on a $250,000 loan.  In other words, you lose $27,417 in purchasing power.  Act now before rates increase further.

GET THE BEST HOME AND LOCATION
There are currently a large number of homes on the market.  The best options for homes and locations in each community always move first.  Move quickly to make sure you are the one who gets the best option.