Are you waiting for the market to improve? Truth is that prices will more than likely raise along with interests rates as we come upon the real estate "season".

The immediate tax benefits you'll get may offset the savings you would reap by waiting.

How many times have you asked yourself, “Why are we paying so much in rent and making the mortgage payment for our landlord”?

Rent is increasing an average of 25-35% across King and Pierce County in addition to a rate hike in water, sewer and garbage bills. You are paying for utilities that you may not be using but your rate is based on the number of people in your unit and not the actual amount of use. Rent is now equal to a house payment that could be earning you money for retirement or money for your children's college.

You can't take out a loan against an apartment when times get tough or you want a vacation. You can't be free to listen to your music as loud as you want when you live in an apartment. You are constantly being careful of your noise level or the noise level of your children when you live in an apartment. Wouldn't it be wonderful to feel "free" to do as you please?

The answer is typically “We have bad credit” or, we don’t have enough for the down payment” or, “we can’t afford the house payment”.

With regard to the house payment, you have many options. There are many new “Hybrid” type of loan programs designed to help 1^st and even 2^nd and 3^rd time homebuyers. I am not saying that your first home will be your absolute dream home but, at least you need to “Get in the Game”. And, don’t forget the tax savings. By deducting the interest you pay, chances are you will qualify for a nice refund from the IRS.

Here’s an example: A home loan for $250,000.00 could generate approximately $19,000.00 in interest and property tax deductions. If you are in a 28% tax bracket your refund would be around $5,300.00. That’s a monthly savings of over $441.00 effectively reducing your monthly house payment by that amount.

If you don’t own real estate, you are not in the real estate game and you are not experiencing the growth appreciation you read about, practically on a daily basis. If you think that you’ll wait for prices to decline, you can forget it. National studies are showing that the Greater Puget Sound Region is bucking the National trend and still has an annual growth potential of 12% to 14 % per year.

Now is the time to buy. If you purchase a home today for $250,000.00, in only 3 years is could be worth more than $370,000.00. You cannot afford to not be at least looking.