What You Should REALLY Be Shopping For On Black Friday

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Black Friday is rolling around again.  Hundreds of Thousands of people will be lining up early Friday morning, in the cold, dark weather to get the best buys for Christmas.  I have been shopping on Black Friday once, the sense of urgency surrounding the shoppers is amazing.  But what are they really saving?  A few hundred dollars?  Maybe you get lucky and get short-term low interest financing as well.

How would you like to save between $50,000 and $100,000 this Black Friday?  Instead of lining up early to get $50 off an X-Box or $25 bucks off that new TV for your kids, sleep in a little bit.  Have a nice breakfast.  Then spend the day with your Realtor finding the ultimate deal.

The entire last year has seen Black-Friday like prices in the Real Estate Industry.  Houses are on sale, and even better, fixed rates are near rock bottom.  Let’s take a look at the impact of this Black Friday Housing Special.

Most of the country has seen some sort of falling home prices.  Let’s assume (conservatively), that the area that you are in has seen prices fall just 5% over the past two years. If you are looking at a house that is currently listed for $250,000 than you are already saving over $13,000- I am betting that you can’t get that kind of savings at Wal-Mart, no matter how much they roll back prices.

Now consider financing:  sure, Conn’s may run a special giving you 1 year interest-free, but is that really in your best interest?  On a $5,000 purchase at a 20% rate, you save at the most $1,000.  Home Mortgage Rates are currently hovering around 5%.  Lock on of those babies in and you are talking savings.  On that $250,000 home, are saving almost $55,000 over the life of the loan (vs. a 6% rate).  Further, if you plan appropriately, and invest that money wisely, you are looking at over a $300,000 increase in net worth.

OK, I know.  The Black Friday deals are pretty hard to pass up.  There’s a darn good chance that the house you want may be on the market through Saturday.  I just ask you to think of this…. why are you spending more time and effort to save a couple hundred dollars rather than tens of thousands.

If you truly want to save money this Black Friday, give me, Rich Bonn, a call at 281.841.1723.  I will be more than happy to assist you and your Realtor in creating a personalized mortgage plan for you, and getting you into the home of your dreams.