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Spring and Summer 2009 will likely go down in the Real Estate Annuls as
"that great time for BUYERS"

 

And while it's true that 2010 may bring equal if not 'better' incentives for buyers if certain proposed extensions of the Federal Home Buyer Tax Credit are passed, there may be some downsides to waiting to make a move.

Right now, home prices have fallen to 3-5 year lows, there is still $8,000 free cash for qualifying first time buyers, sellers are still willing to negotiate, sometimes adding items or incentives to the deal, and after the sharp spike in mortgage rates last month, even those rates have in fact pulled back to some of the lowest rates we may ever see in our lifetime.

 

 

So with all these things still on the table, the buyers who are still on the fence, may find themselves looking back at 2009 with slight regret if they dont go after that great new home before December 1st.


Why December 1st ? Well that's the expiration date for the first $8,000 tax credit program, and although it may be extended - it also may not !

So if you or someone you know is contemplating whether to go for that new purchase in the near future, or if you should wait another year, it may pay not to procrastinate any longer, as the end of summer deals where sellers are concerned to hold on to their listings through the end of the year, could unveil some outstanding opportunities for buying deals !

 


So digest it, then call your Realtor(R) and discuss the opportunities in your market, and if you're looking to buy in Bergen County New Jersey, call me !

Dont look back with regret that you missed one of the truly great buying times in our lifetimes !

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Sheldon Neal is a Realtor® with RE/MAX, specializing in Homes For Sale in the Bergen County, NJ area.

If you are looking for Bergen County Realtors, call local expert Sheldon Neal for all your Bergen County Buying & Selling needs ! 
Sheldon Neal  ~ RE/MAX REAL ESTATE LTD.
cell: 201-481-2891
email:     SheldonNeal@remax.net
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This post has been included in New Jersey Real Estate News Bergen County, NJ Real Estate News
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26 Comments on For Most Buyers - It's still a GREAT time to BUY !!

JUL
24
2009
248,200 Points 2 Featured Posts

Sheldon,

I am with you.  Time for qualified, willing and able buyers to jump off the fence.   Great post!

Gerry's AR signature
6:32pm • #1
443,092 Points 19 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

If buyers snooze, they will lose!!  xxoo
6:39pm • #2
327,553 Points 9 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Hi Sheldon ~ This is a very valuable message - it's a perfect storm of great values for buyers - low prices, low interest rates, and an $8K gift - plus sellers who are more accomodating than in past years. I marvel every time I take a buyer out at what a great time it is to be a buyer.  It's probably why we're still quite busy well into July.

Liz
8:05pm • #3
509,525 Points 70 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Hi Gerry ! Thanks and I hope buyers dont wait too long and then have regrets next year ! Nice to see you !

Soooosan ! You said it Sista !!!

Liz - Yep I agree entirely. We are still busy as bees here and its been this way since March for me ! So Hopefully the buyers will continue to take advantage while the incentives are out there !
9:38pm • #4
751,531 Points 7 Featured Posts Localism Sponsor Outside Blog Called Shot Master

I too hope the buyers do not wait toooo long ... use it or lose it.
10:31pm • #5
555,295 Points 31 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I love the images Sheldon - and so true.  I can't imagine how some buyers are going to feel on December 1st when they realize they didn't even try...
10:52pm • #6
721,995 Points 47 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

This week we wrote an offer on a fantastic deal for a young couple.  They will have to loose money to sell.  But they are buying a house at 50% or so of it's market value, so in a few years they will be SO happy they did not wait until the "market was better" to sell.  And I think you're right that in hind site this will be the best opportunity some people will EVER have to get a grea deal on a home.
10:53pm • #7
469,487 Points 3 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Sheldon..You have said a mouthful..this is free money..the next incentive is said to be a loan...I am with you ..buyers will lootwitter@helpfulhannahk back on this and say "should have ,could have"...Thanks

HELPFULHANNAH
11:01pm • #8
422,653 Points 20 Featured Posts Localism Sponsor Called Shot Master

Hi Sheldon, Great post today! Timing is everything, and I think your assessment is correct. The first time buyer credit alone, would definitely get me off the fence.  That is truly a great gift.
11:24pm • #9
1 Featured Post Localism Sponsor

This a shoulda, woulda, coulda.  Buyers need to make it a positive... I did it!
11:34pm • #10
JUL
25
2009
571,409 Points 39 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

Hey Sheldon - I know that the tide has turned in my area and buyers are finally understanding that there are tremendous deals out there and the tax incentive is for real!  It is a WONDERFUL time to buy!
6:25am • #11
538,546 Points 6 Featured Posts

ToulaRosebrock,com

Hi Sheldon:

This is so true...it's a GREAT time to buy!

So many buyers are still waiting and thinking that the tax credit deadline will be extended.
6:47am • #12

This is a great post and should be featured! It IS A GREAT TIME TO BUY!
Mortgage rates are at the lowest these buyers may ever see.
7:35am • #13
288,572 Points 38 Featured Posts Outside Blog

I've worked primarily with FTHB over the last year + ... I am curious to see if we will see a push to get into homes before Dec 1st. I know one thing - they beter start NOW because buying a home isn't like buying new shoes.
7:48am • #14
634,127 Points 10 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Sheldon!  I've gotten lots of calls this week from buyers who don't want to miss this.  It's not just that....they are realizing that when interest rates go up, their buying power will go down.

Have a great weekend!
8:26am • #15
145,354 Points 2 Featured Posts Localism Sponsor

Sheldon, well put and the buyers who procrastinate are possibly going to regret that decision....I say go for it before there is no tax credit to be given!!!!
10:12am • #16
733,659 Points 231 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Shedlon... I would that 2009 is one of the best times to buy since I have been in the business, since 1992. Home values are lower... not as low as then, but lower in the last 5 years...  Rates are about the lowest since I have been in this business... and yes, you are now given $8,000.  How can it not be a great time to buy. One main ingredient for so many?  Money upfront..

jeff belonger

 
11:16am • #17
427,829 Points 32 Featured Posts Outside Blog

There's no doubt about it, this year has been a truly great time for buyers. Some will cash in and others will let some of the opportunities pass them by.
11:19am • #18
402,400 Points 4 Featured Posts Attended Rain Camp Called Shot Master

Sheldon - Howdy Neighbor....Woo Hoo! You're on top with us! Woo Hoo.....
7:15pm • #19
1,177,923 Points 133 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

It's a rough time to buy here, supply is low because buyer demand is high.  THe prices, interest rates and tax deductions are awesome for first time buyers.  Lots and lots of all cash investors here too!
7:36pm • #20
160,084 Points Outside Blog Hit Router

Sheldon:

From your month to God's ears.

Richard
10:57pm • #21
JUL
26
2009
606,089 Points 36 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Sheldon - It is a great market again and we are all doing better for it. Congrats on the Closter home btw...
9:33am • #22
1,139,489 Points 76 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Sheldon:  Any buyer who wants your help to take advantage of the tax credit better book you now!  I know that you are as slammed as I am. 
11:08am • #23
873,116 Points 35 Featured Posts Localism Sponsor Outside Blog

Sheldon, If the first time home buyers are still sitting on the fence, it's time to hop off.  They will lose that tax credit if they wait and that's no small amount!
6:30pm • #24
JUL
27
2009
1,063,230 Points 156 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Procrastination Sheldon now with all the planets lined up for the buyers DEFINITELY doesn't make sense.
11:27pm • #25
JUL
28
2009
419,437 Points 71 Featured Posts Outside Blog Called Shot Master

Sheldon - Your title sums it up quite nicely.  This may go down as one of the more opportune times to buy in history.
11:32am • #26

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Sheldon Neal ~ That British Agent ~ Bergen County NJ

Maywood, NJ

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Bergen County, NJ - RE/MAX Real Estate Limited

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