Weichert, Realtors Sees Ideal Opportunity for Buyers

MORRIS PLAINS, N.J.--(BUSINESS WIRE)--Potential home buyers waiting for the perfect time to jump into the housing market should wait no longer, according to Weichert, Realtors, one of the nation’s largest privately-held real estate companies.

“I can see home sales heating up this summer, leading to a solid finish for 2007”

James M. Weichert, president and founder, says several economic factors make it a great time for buyers to get into the home of their dreams.

“Much of the attention real estate is getting today continues to be based on comparisons to the past thanks to the record-breaking years we had earlier this decade. But if you take a more forward-thinking approach, you see real estate is set for an upswing based on indicators such as home supply, interest rates and employment,” said Weichert. “Not only has it never been easier to find and afford that dream home than right now, but real estate remains one of the best long-term investments options.”

Aiding buyers in obtaining financing are the interest rates for typical 30-year fixed rate loans, in the very affordable six percent range. Additionally, a plethora of available mortgage products allows borrowers to find the loan that best fits their financial situation. Weichert Financial Services, for example, offers more than 360 different mortgage products, ranging from fixed rate to adjustable rate mortgages and no-money-down loans.

With economists expecting interest rates to increase by the end of the year, now may be the best opportunity to lock into these low rates. Meanwhile, stricter lending standards are ensuring that owners can handle their mortgage payments throughout the length of the loan, boosting the health of the housing market.

Another advantage today’s market offers buyers is the sizeable inventory of homes available, allowing them time to find a property that meets all their needs and desires. Buyers also now have more power to negotiate with sellers for help on down payments or closing costs. And the time may never be better to invest in a home, as home sales are expected to rise gradually in the second half of the year, with prices to follow.

“Currently, the wide selection of homes to choose from coupled with interest rates near historic lows make the market extremely favorable to buyers. Whether you’re looking to buy your first home or wish to trade-up, now is the perfect time to ‘dive in’,” added Weichert.

Contributing to the healthy real estate market has been the strength of the U.S. economy, which continues to see an overall increase in jobs. Gross domestic product and personal income are also seeing gains, and inflation rates are well in check. With the traditionally busy summer housing market approaching, Weichert recommends buyers take action sooner rather than later.

“I can see home sales heating up this summer, leading to a solid finish for 2007,” said Weichert.

Weichert has nearly 19,200 sales associates in over 500 company-owned and franchised sales offices in key markets throughout the U.S. A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance. For more information, call Weichert's customer service center at 1-800-USA SOLD or visit Weichert's Web site, www.weichert.com. Each Weichert franchised office is independently owned and operated.