Is now the time to buy Real Estate?

Many are wondering if this is the bottom, or will the market continue to drop? Will interest rates stay low, or will they creep up? We all wish we had that crystal ball. The table below was created by Danny Salas at Access Lending. Lets pretend prices dropped another 10% and interest rates increased 1 to 1.5 percent. Kind of puts things in perspective. With the extension of the tax credit, low interest rates and low prices, now is a great time to buy. THANKS DANNY! ACCESS LENDING IN CHICO 530-897-4090

Table Comparison:

	$210,000 Purchase	10% Drop In Price ($189,000 Purchase)
Interest Rate	4.875%	6.5%
Monthly Payment-P & I	$1,127.54	$1,215.54
Taxes	$218.75	$196.87
Insurance	$80.00	$75.00
Mortgage Insurance	$96.25	$86.63
Total Monthly Pmt	$1,522.54	$1,574.04

Over the life of a loan, the difference is $18,540.00. Not to mention the $8,000 Tax Credit and the tax write-offs for a year. Now is Definitely the time to Buy!

4.875% APR = 5.838% including 1.75% Mortgage Insurance Premium

6.5% APR=7.508% including 1.75% Mortgage Insurance Premium