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​I am the master of my fate, i am the captain of my soul

~ William Ernest henley

Live The Dream

5/11/2015

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Consumers are more easily living the American Dream of owning a home because of the incredibly low mortgage rates. Today, most buyers can get a much lower rate than their parents or grandparents got on their first home.

In a recent housing survey, Fannie Mae released information about consumers' thoughts on the current market. Almost two-thirds would rather buy than rent and believe that now is a good time to buy. Half of the respondents expect rent and home prices will go up.


Top Ten reasons to move the dream to reality:
  1. It’s cheaper than renting in most cases
  2. Avoid rental increases in the future
  3. Equity build-up with amortization of each payment going to principal
  4. A home is a forced savings account
  5. Appreciation increases your equity and your overall investment
  6. Mortgage interest and property tax deductions
  7. Home equity interest deduction
  8. A place you can call your own
  9. A place to share with friends and family
  10. Capital gains exclusion on profit


Buyers need the confidence that they can afford a home and proof for the sellers when they’re ready to submit a contract. If a buyer has steady and reliable income, a good record of paying their bills, money saved for a down payment, and are prepared to pay the mortgage each month, the next step is to get pre-approved by a trusted mortgage professional. 

Take a look at the Rent vs. Own calculator to see what the real cost is of owning a home in your price range.

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221 E Sherman Ave
Coeur d' Alene, Idaho 83814

200 Main St
Sandpoint, Idaho 83864
Tomlinson Sotheby's International Realty
Josh Ivey (208) 946-7355
josh.ivey@sothebysrealty.com

Jennifer Ivey (208) 946-7816
jennifer.ivey@sothebysrealty.com

©2016 North Idaho Fine Homes. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated.
Photo used under Creative Commons from Mary P Madigan