5 Reasons to Buy a Home in Seattle Right NOW

Has the housing market hit bottom? In some places it has. With all the first time home buyers and investors jumping in and buying homes at a discount let’s take a look at why someone might want to buy a home in Seattle Real Estate market:

1. Interest Rates – Interest Rates have never been so low in like a thousand years. I can remember when it was in the high teens and people still bought homes back then. You can buy so much more of a house with the rates being so low. Don’t know how long the rates will stay low.

2. Appreciation – Appreciation in real estate terms means the increase in the value of a property. There are a couple different types of appreciation.

A. From the economic conditions that are not in your control, inflation being an example. B. The second type of appreciation is market appreciation, which is something that is under your control with how you deal with the property with add-ons, renovations, and general up keep.

3. Tax Advantages (Depreciation and Expenses)- When owning a piece of property allows you to deduct interest payments as well as other expenses when filing your taxes.

4. Leverage – Leverage is the best part you can leverage the banks money. You can get in to property from as little as 0 to 20% down!!! Major leveraging is available in real estate than any other industry. 

5. Amortization – If you buy a home for an investment, everytime your tenant pays your mortgage the balance that you owe is reduced. A portion of the payment amount made applies to interest and part to the principal. Amortization is the principal reduction or reducing your debt on the home. This process of amortization can make you money.