5 Reasons to Buy a House This Year

Times are tough and people are afraid of purchasing a home in this economy. However here are five reasons to stray from the pack and buy a home.

1) Affordability is better than ever: a five bedroom home in the Las Vegas area recently sold for only $255,000 instead of the list price $310,000.

2) Large inventory to choose from: with houses staying on the market for longer and longer the inventory keeps growing. If you wait for the inventory to shrink you probably won't get as good a price as you could have gotten.

3) Builders are offering big discounts: home builders are getting more aggressive with their offers. If you have to walk away without making a deal and see if they call you back with a better deal.

4) Mortgage rates are at historical lows: this week the average rate of a 30-yr mortgage is 5.07% according to Freddie Mac weekly mortgage survey.

5) You can get a federal tax credit: there is a tax credit for up to $8,000 for people who haven't owned  a home in 3 years. Unlike the previous credit this one doesn't have to be paid back.