Top 5 Reasons to Buy a House in the Sioux Empire

  1. Some consumers may be wary of buying a home or putting money into a home remodel for fear that the market or local economy will plummet. National media tend to overstate the national housing production decline. But we're different here in the Sioux Empire! The economy is solid and job creation is strong, meaning there will be strong housing demand for years to come; this, of course, bodes well for long-term house price appreciation.
  2. Home prices have leveled off locally, giving buyers a unique opportunity to find affordable housing that may have been out of reach before. Sellers in this environment, by necessity, are much more prepared to negotiate. While there are no guarantees you’ll get everything you want (bargains are all about give and take) you can be assured that your needs will be heard. Most likely, you can get the house of your dreams and still have a budget leftover for decorating.
  3. Mortgage rates are historically low. Interest rates are still affordable, remaining near 6.5 percent. Looking back, 1984 saw fixed rate mortgage interests as high as 14.75 percent. Even just six years ago, interest rates ranged from 8 to 8.5 percent. A half-percent rate difference on a $200,000 mortgage, from 6.5 percent to 7 percent, translates into an increase in monthly mortgage payments of $66.00. Over a thirty-year mortgage, that’s an extra $23,926! When rates are this attractive, it just doesn’t make sense to try and time the market.
  4. There are many financing options available for home improvement projects, and interest rates on home equity loans and lines of credit are very attractive. Fixing up your home will add to its value and your investment. Although it is difficult to put an exact price on the resale value of a particular remodeling project, for most of us the real value of remodeling is the comfort and pleasure it adds to the years we spend living in our home.
  5. Homeownership is always attractive. Besides being a stepping stone to a future of financial security, homeownership provides a sense of community and personal satisfaction and inspires civic responsibility. Homeownership is the cornerstone of the American way of life and the fulfillment of the American Dream. Today’s market allows that dream to be possible for you as well.