NEWS YOU CAN USE

HINTS FOR HOMEBUYERS                     Start Building Your Nest Egg Now Excerpts Courtesy of FosterFolly News

In 2007, a home was sold in the United States every 4.9 seconds. Although no one can predict the future, demographics will continue to drive long-term demand. Looking ahead through 2015, nearly 15 million new households are expected to be formed in this country. And all of those people will need a place to live.

Getting the jump now--when rates are low, inventory is plentiful and home prices are compelling--can be a great strategy for building your own nest egg and personal wealth. Here's why:

• Great Rates. Mortgage interest rates remain very attractive and are at or near 40-year lows.

• Great Timing. The economic stimulus package recently signed into law provides a significant benefit to homebuyers and sellers. With the conforming loan limit raised--from $417,000 to as much as $729,500 in some market areas--more buyers can get lower interest rates. So if you saw a dream home you couldn't afford last year, look again.

• Great Long-Term Investment. Home equity is the largest single source of household wealth for most Americans. From 1972 to 2007, the median home price appreciated at a compound annual growth rate of 6.2 percent. To put that in perspective, a $25,000 investment back in 1972 at the same rate of return would be worth approximately $233,000 today. Maybe that's why nearly two-thirds of Americans agree that renting a place to live is like throwing money away.

To learn more about making your American Dream happen in today's real estate market, contact a real estate professional.

Homeownership can be a smart way to build your personal wealth for the future.