I'm seeing this more and more these days - the people who a couple of months ago who were saying
"Yeah, I'm going to buy a home now to take advantage of the great prices and the first time buyers tax
credit, I'd be crazy not to!" Well, its starting to become clear - you are going to miss the boat! It is
already past the middle of August, you haven't started talking to a Realtor, you don't really know what
your credit score is or if its going to be high enough to get you a mortgage approval, you may have some
cash in the bank but unless you pick up that phone TODAY you very well might completely miss out on
this incredible buying opportunity and you will pay more later! Here in the DFW area prices have
stabilized, the well prepared homes in each price point are getting offers in just a few DAYS! Inventory is
lower than in 'normal' markets - this will lead to fewer opportunities for you to find that perfect home, and
prices will start going up due to higher demand and less inventory! Don't forget that the interest rates are
still extremely good! Who knows how long that will last - do you feel like betting they will be low in a
month - or two - or three or more? What about the $8,000.00 tax credit? Well, unless you have closed
the deal on your home by November 30, you lose out! Its gone! $8,000.00 down the drain! No cash
available for down payment? Well, you do need at least 3.5 % for a down payment and a few hundred
dollars for inspections and such and you might not have that much but maybe there is a relative who can
"gift" it to you - you could pay them back out of the $8,000 tax credit you'll get after you do your taxes
and probably still have money left over!
There are options available to you, but unless you pick up that phone or email address and contact a good
Realtor, You are absolutely positively guaranteed to miss the boat!!!
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