Historic Times for Buyers!

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Historic Times for Buyers!

Yes, it is Historic Times for Homebuyers!

Interest rates are at 4.75%! My first Mortgage was a deal at the time 11.5% and I was happy to get it! What this low rate equates to is a 25% increase in purchase power for our buyers!

The $8,000 First Time Homebuyers Tax Credit has to be used by Dec 1, 2009. That means that since deals have to be closed on that date, we should be writing offers now - especially for those deals that are taking forever (short sales). In our area, First Time Homebuyer inventory is shrinking to the 4 month level - it's beginning to become a buyers market!

Potential buyers can buy with as little as 3.5% down and gift money is allowed. Isn't FHA Funding is Fabulous!

If you are thinking of buying, it's time to get off the fence!

Teresa Nelson

John L. Scott Real Estate

206-571-3645

www.AgentNelson.com

Teresa K. Nelson

Thinking of Buying or Selling?

206-571-3645

teresanelson@windermere.com

http://www.AgentNelson.com

Posted by Teresa K. Nelson on 05/20/2009 12:00 PM

Comments (3)

first time home buyers, tax credit, fha loans, woodinville real estate

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This post has been included in Washington Real Estate News King County, WA Real Estate News Woodinville, WA Real Estate News
Post is included in group: 1st Time Buyers
Post is included in group: First Time Homebuyer
Post is included in group: John L. Scott | Real Estate - Active Rain Bloggers
Post is included in group: Localism Brainstorming

3 Comments on Historic Times for Buyers!

MAY

2009

Hi Teresa. I have missed you writing on Active Rain...

Ken

Aw Ken - how nice of you to say that!

JUN

2009

You are so right. Even though rates have gone up since you made the post, they still are a great bargain for homeowners and a good hedge against inflation. Eventually our prices have to start rising again. I am over here in Port Townsend, WA so keep me in mind if you have anyone heading my way and I will do the same.

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Teresa K. Nelson

Woodinville, WA

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Windermere Real Estate SBA, Inc.

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