The next few weeks should be very active in the real estate business. There are many cyclical reasons, and many incentives for buyers to gobble up the current deals that are on the market. Here are some of the reasons that you should be ready to get busy:
- Spring is in full force. Houses show well in pleasant weather, with green lawns and blooming flowers, and there is a general aura of peace of mind surrounding the season.
- The school year is nearly over. Many buyers plan to move as soon as the current school year is over. If you are looking at a 45 day contract to close process, it's time to seal the deal NOW!
- There is a 10% refundable federal tax credit up to $8,000 for first time buyers. (Buyers who have not owned a home in the last 36 months!)
- On some HUD and foreclosed needing repairs, there is a $14,000 incentive available to some buyers whether or not they are first time homeowners.
- Some states, including Georgia are offering additional incentives.
- Prices and interest rates are still remarkably low and house payments can be less than rent on the same property in many cases!
Be prepared to move quickly, as the choice properties disappear fast. Get off of that fence and get going!
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