For Americans who want to buy a retirement property historical estate crash has created all kinds of opportunities. Home prices in 20 major metropolitan areas fell by around 28% of the maximum. At the same time, the Government's efforts to ramp up the demand for housing have significantly reduced the cost of mortgage borrowers. Fixed mortgage rates in thirty years was 4.37% for the week ending 16 September, only slightly above 39-year-old fall reached two weeks ago. Below, together, home prices and cheap mortgage rates have made home buying much easier than a few years ago. And the real estate value of many traditional retirement spots like Florida and Arizona fell even harder than the national average, Americans are willing to stand up for the second half of her life, particularly favourable position. To this end, u.s. News has compiled a list of 10 places where retirement home buyers will be able to acquire the property for less than $ 600 per month.
[Photo: where to buy a retirement home up to $ 600 per month.]
In putting together our list, we've got the average home price data from the National Association of Realtors for metropolitan statistical areas, 159. After deduction of 20% down payment, we connected a picture in the mortgage calculator, 4.37% rate on a 30 year fixed mortgage.We then looked at the desired retirement destinations and whose monthly mortgage payments amounted to less than $ 600. Please note that these monthly payments reflect only the costs of the mortgage principal and interest that will represent the majority of the homeowner's monthly housing costs. However, it does not take into account expenses, taxes, insurance and utilities that may be very different from one place to another.
1. Phoenix: with more than 200 golf courses, many miles of outdoor trails and an array of museums and art galleries, Phoenix area has long been an attractive destination for retirement.Prices of homes in Phoenix in 2006 doubled from 2002 but fell like a deflated 51%, real estate bubble. Nevertheless, bust, helped make the market more accessible to potential retirement home buyers. Average house prices in the Phoenix area was $ 145 million in the second quarter of 2010, up to 11% a year earlier. Customers who put down 20%, or $ 29000 — at an average price of Phoenix homes will have monthly payments of approximately $ 579 for mortgage principal and interest.
2. Las Vegas: several u.s. cities have seen prices swing wildly, as they did in Las Vegas over the past 10 years after nearly doubled from 2002 to 2006, real estate values in Sin City has since fallen to 57%. But a glitzy Casino, abundant Golf and 320 sunny days in the year continues to make life pleasant for pensioners. Average house prices in the Las Vegas area was $ 142 million in the second quarter of 2010, a slight increase from a year earlier. After you make 20% down payment-from $ 28.400, buyers will have a monthly payment of $ 567 at an average price of homes in the Las Vegas area.
3. San Antonio, Texas: this town has 300 sunny days a year, more than 50 golf courses, 21 individual parks and calendar, packed with festivals and events.History buffs can check Alamo, where Mexico and Texan troops put their legendary battles in 1836, while art lovers can visit one of 63 local galleries.The average home price in San Antonio was $ 148.000 in the second quarter of 2010, reduction of approximately 3% from a year earlier.Customers who put down 20%, or $ folding — at an average price of San Antonio homes will have monthly payments of approximately $ 591.
[Photo: 10 great places to buy a House for less than $ 800 per month.]
4. Greenville, s.c.: Greenville tucked into the foothills of South Carolina beautiful Blue Ridge Mountains. 39, minor league baseball Parks and 14-acre Zoo makes this city 62000 attractive to de average house prices in Greenville 7%, to $ 150 million, in the second quarter of 2009, with the same period this year, the 20% down payment is $ 30 000, buyers will have a monthly payment of $ 599 for principal and interest at an average price of homes in Greenville.
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