Low rates good for home buyers - KPLC 7 News, Lake Charles, Louisiana

Low rates good for home buyers

By Jason Belk - bio | email

SULPHUR, LA (KPLC) - With rates for home buyers very low, now seems to be the perfect time to make a purchase.

Shawn and Yvonne Burgamy, from Sulphur, are on the market for a new home.

"We are contemplating, thinking about buying a new home at this time. We currently own an older home and we wanted to upgrade to something newer," said Shawn.

The news about mortgage rates being at record lows certainly have made the Burgamys feel the time for buying is now.

"Well, it is a buyer's market right now, and it's an opportunity for people looking for newer housing or upgrading housing. Which is currently what we're doing," said Shawn.

Debbie LaFleur, an agent hosting the open house the Burgamys were visiting today, has really seen an increase in selection for potential home buyers.

"It's a great opportunity, and another thing is you have a good selection of homes on the market that are available to buy, so it's a great time to start shopping and get looking," said LaFleur.

While the market is good for home buyers right now, Debbie also thinks it's important for them to do their homework and know where their price range stands before looking.

"What it takes to qualify to buy a home and once you get that, then you'll have a realistic view of the price of the home that you need to shop for, and how much money it will cost you out of your pocket to proceed to buy the home that you want, and to get to that closing table," said LaFleur.

The Burgamys still have plenty of searching to do for their next home, but the improved market is certainly making the process easier.

LaFleur also recommends that before searching for a home, it is very important for potential home buyers to get pre-qualified by talking with their bank or a mortgage professional.

Copyright 2010 KPLC. All rights reserved.

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