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5 GREAT Reasons to Buy a Clovis Home

Clovis Homes Tax creditHave you been thinking about buying a Clovis home but are unsure whether now is a good time to buy?  Consider these 5 GREAT reasons to buy a Clovis home now:

1.  Affordable home index of 83% — that means 83% of  everyone working in Clovis/Fresno can afford to purchase a home.

2.  Cheaper to buy than rent — it’s now cheaper to buy a Clovis home than rent!  Save some of your hard earned money AND own a Clovis home.  What could be better than that?

3.  Clovis homes prices at 2002-03 levels — when you purchase a Clovis home, you’re paying approx. 2002-03 home prices.  How would you like gas, food, and car prices to be at 2002 levels?  I don’t know about you, but I’d love to pay only $1.50 a gallon for gas (2002 gas prices).  We may never see Clovis home prices this low again.

4.  Tax benefits — hate paying taxes?  Owning a Clovis home has a number of tax benefits not available to renters.  Here’s 3 great articles on how you can save even more money this year using the tax benefits of home ownership:

5.  4% interest rates — interest rates are near all-time lows.  Why should you care? You can save a bundle!  Below is a scenario written by a homeowner who purchased a home in 1997 at higher interest rates and how today’s all-time low interest rates can save you $$$ and build equity in your home faster!

“Back in 1997 I bought my first home, it was new construction, I paid $137,000 for a 2040 sq ft home…. that translated to roughly $67 per foot. My interest rate at the time was 8.125% with a total payment of $1,017 per month.

Today, the same home as mine, in my neighborhood, is selling for $249,000 equaling $122 per foot with a total payment of $1,188 per month at a 4% rate. You can see the slightly higher minimal monthly payment quite clearly ($1,017 vs. $1,188) — but with a 8.125% interest rate only 9% of my payment ($89.62) was going towards principal, whereas if a new buyer purchased the same home in my neighborhood at today’s rate of 4% — a whopping 30% ($358.76) would go toward principal.  In other words, Clovis buyers who purchase today get 2002 home prices with low interest rates but also gain a SIGNIFICANTLY faster rate of equity.  But that’s not all…

Now lets talk interest paid…on the $137,000 loan, the buyer paid a whopping $229,201 just in interest.  However, a $249,000 loan at 4% would be $178,956 in interest, SAVING you $50,245 in interest on a loan that’s nearly TWICE as large!  Do you think you still have time to wait?

Clovis Homes for Sale

Clovis Real Estate logoThe 5 reasons above are just some of the reasons why it’s a great time to buy a Clovis home (we haven’t even talked about Clovis schools, city amenities, neighborhoods, etc.)  If you’re looking for a Clovis home, just complete the form below and we’ll help you find your dream home at a bargain price!

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