Time to Buy? Incentives say YES!

Delinquent loans have hit an all-time high in 2009! 1 out of only 45 homes is facing foreclosure and there is no end in sight! The Short Sale market is also at an all-time high as sellers are so up-side-down from the booming markets in previous years that the inventory is literally out of control.


Time to buy? Yes! Here are some reasons to BUY…

INCENTIVES:

For first time home buyers it’s a great time to take advantage of the $8,000 tax credit. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

The move-up/Repeat tax credit of $6,500 is another great incentive. The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010). (Properties exceeding $800,000 do not apply to this credit.

PRICE:

The price of a home is always a key factor for buyers because every buyer wants more for less. With home values dropping substantially the short sales are more prevalent than ever before. It’s a great time to take advantage of the market right now and lock in your low prices… and homes entering into the market that are not in direct competition with the comparable sales will simply take a back seat!

BONUSES:

Being that we are in a buyer’s market, the incentives to find qualified buyers are forcing sellers do what it takes! I have had boats and cars included to try and sweeten the deal. Sellers sometimes will also offer paying points on the mortgage, owners financing and lease option/lease purchases. These bonuses are giving buyers more “bang for their buck.”

Right now while we are in the buyer’s market phase of our economy I urge you to take advantage of it. Meet with an educated realtor that is honest and looks out for your best interests…its not always easy sorting out the good-- the bad-- and the ugly.