Realtors say now is the time to buy

By Brooke Kelley - bio | email

SAVANNAH, GA (WTOC) - Real Estate agents and mortgage brokers around the Coastal Empire and Lowcountry are saying now is the time to buy.

WTOC went house hunting with one potential buyer who's hoping to get in now before the interest rates start to climb.

In the past few weeks interest rates have started to go up, and if your looking to buy a home bankers and brokers are saying its a good time to buy before the market starts to improve and those low interest rates are gone.

Looking for a new home has been challenging for Jon Taylor not because he can't find one, but because there's so many to choose from.

"It's basically picking which one is the perfect one," said Taylor.

Taylor knows it's a buyers market and so does his realtor Jane Beare. She says the market is really starting to pick up.

"I think there are so many properties coupled with interest rates that you'd be remiss if your contemplating purchase a property looking at things right now," said Beare.

Real estate agents like George Holtzman also agree that now is the time to buy.

"There has been some depression in the prices and a number of foreclosures out there. When banks price them they are a good buy," said Holtzman.

Banker Brad Bixler says he's watched interest rates increase a quarter of percent in the last couple of weeks, and with the economy starting to improve he expects interest rates to continue to climb.

"A buyer taking advantage of those low interest rates and low prices is going to be well situated to have a very good equity position moving forward when the market actually recovers, said Bixler.

Which is why Jon Taylor is hoping to find that dream home sooner rather than later.

"I couldn't imagine a better time," said Taylor.

Soldiers who are just returning from overseas can still take advantage of the first time home buyer $8,000 as long as they purchase a home by April 30 and close by June 1.

The Coastal Bank in Hinesville is holding information session for first time home buyers. Topics include the foreclosure process, contacting your lender, loss mitigation options and lender required documentation. For more information, call 912.368.4300.

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