In spite of problems in the housing market, experts agree this is a great time to buy Naples real estate. First-time home buyers can take advantage of the many tax breaks allowed by the stimulus plan, and everyone can benefit from the fact that the stimulus package includes help for banks so that they can provide mortgages. There are other reasons the current market is good for new home buyers, too.

Mortgage Rates

Because so few mortgages were being issued, the rates are very low. This gives home buyers, especially those with good credit, a big advantage. Just a two point difference in mortgage rates can mean saving several hundred dollars a month on payments.

Low Prices

If you’re considering buying Naples real estate, act now so you can take advantage of the amazingly low prices.  When you buy a home at today’s exceptional prices, you’re very likely to quickly add equity to your home when prices bounce back. 

Less Construction

Having less construction happening may not seem like a great thing, and for many areas of the economy it is not, but a lack of new construction is a real plus for new home owners. The fact that there are fewer new homes on the market will help real estate prices bounce back over the next few years by creating more of a supply and demand situation for existing homes. Rising home values will provide that equity bump back to more modern levels.

If you’re thinking about buying Naples real estate and want more advice on the pros and cons, please give me a call today at 239-596-1181 or email me at dave@bartleyrealty.com.

KEYWORDS: Naples real estate

LINKS:

stimulus plan: http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home#taxcredit

good credit:  http://articles.moneycentral.msn.com/CollegeAndFamily/MoneyInYour20s/9waysToBuildAKillerCreditScore.aspx

fewer new homes on the market: http://www.wallstreetgreek.blogspot.com/2008/12/fewer-new-homes-looming-buying-storm.html

Are you considering buying your first home?  I’m sure you already know that now’s an amazing time to buy your first home.  You have the perfect combination of low interest rates, low Naples home prices and President Obama’s stimulus plan which gives you additional incentive to buy now.

To help make your first time Naples home buying experience the best it can be, here are some tips:

1)      Know What You Can Afford

It is easy to get carried away with what you want versus what you can actually afford. Start with reasonable expectations.

2)      Decide Exactly What You Need

Consider your current family status and what your immediate future might hold, then decide on the number of bedrooms you require and the amenities you feel you can’t do without. If you love to cook, a well-equipped and spacious kitchen will be important. If you eat out 90% of the time, it is wasted space.

3)      Make Good Use of the Internet

If you’re like millions of other Americans, you spend a lot of time online.  Make use of the many available free programs and calculators to give you a better idea of what you can afford and what your mortgage payments will be. There are mortgage calculators that give you an instant idea of what each home you find will cost you monthly.

4)      Don’t Hesitate to Ask Questions

Call around to get insurance quotes so that you have a reasonable estimation of what to add to the total cost of your monthly mortgage. Check the information on the Naples home properties you are interested in to find out what the taxes are.  Add that amount to your total monthly mortgage cost too.

Buying your first Naples home should be the thrill of a lifetime and with proper planning it can be.

If you’d like to work with a real estate agent who specializes in helping first time home buyers get their dream home at the best price, call me today at 239-596-1181 or email me at dave@bartleyrealty.com