Act Now or Forever .....regret it?

To borrow a term from the financial market and tweak it for the Real Estate world

“Huh?” you ask.

Well – the Sun, the Moon and the Stars are in alignment and the opportunities for a “first-time homebuyer” may never be better than they are right now.

Why? Well……..
1. The federal government is offering up to an $8,000 tax credit for qualifying 1st time homebuyers
2. Mortgage interest rates are hovering in the 5-6% range, and
3. Home prices are down from recent years

I realize many of you won’t qualify (you’re already homeowners) and perhaps some of you who do aren’t in the financial position to take advantage of this opportunity. But for those who are in good financial standing and have been considering a home purchase now may be the best time in the foreseeable future to “bite the bullet”.

So, if you’re looking to buy or know a family member, friend or coworker that is please encourage them to explore this opportunity now.

Cinderella’s Coach (the tax credit) turns into a “pumpkin” on December 1. Lots of time huh? Think again. To qualify for the tax credit you must have purchased and settled (been given the keys) on the property by November 30. In order to pretty much guarantee a property can settle by that date, it should probably be under contract by no later than October 1. Remember mortgage lenders require a fair amount of lead time to process the mortgage. And we’re expecting those lenders will potentially be challenged by the increased volume of activity as the December 1 date approaches.

My advice – act now if you want to pursue the tax credit.

As always I’d be honored and happy to assist anyone who is interested in “pursuing their dream”

Thanks for your help and consideration. /guy