Real Estate affordability index Lake of the Ozarks

April 5th, 2009 jgarrett Posted in Lake of the Ozarks real estate | Comments Off

 

 Prices are the lowest the Lake has seen since 2003, and interest rates are making it possible to buy more than ever.  Here are a few facts you won’t hear anywhere else, and don’t be fooled.  Real estate is a smart buy right now, and wealth is being created with ever new purchase at these discounted prices.   As of January 2009, the Housing Affordability Index hit 166.8  This means that a typical household earning the median family income ($59,821) would have 166.8%of the qualifying income to purchase a median-priced existing single-family home ($169,900) with a 20% down payment-the highest level of housing affordability in history!   NAR Predictions:

2009 Inflation Forecast: 4.0% to 5.0%

Real Household Income Growth = -2 % to -3%

Consumer Spending Down 5% to 10%

Source: National Association of Realtors

Move-up buyer:

If you own a home that doesn’t fulfill your current needs or you have a desire to change neighborhoods, take advantage of all options in available inventory.  It’s a perfect time to find a home you really love.

Investor:

Houses are on SALE! Prices have adjusted approximately 12% across the country. If you are looking for a long-term investment in real estate, then you should be enthusiastically looking for properties right now.  With the built-in discount on prices and interest rates, smart investors can hold onto the property to build equity and long-term wealth.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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