Over the past couple of weeks events have conspired to give first-time home buyers a second chance at snagging the deal of a lifetime! First the $8,000 tax credit was extended through April 30th of 2010 and expanded to include a tax credit for some repeat buyers, letting them in on the fun a bit as well. Additionally, mortgage rates have again dropped solidly below 5% - one banker I work with is quoting 30-year fixed-rate mortgages at 4.875% this morning, and they offer even lower rates for qualified first time buyers. Finally, there is still an abundance of housing inventory available, at least in the Philadelphia neighborhoods where I work. Everything from bargain-basement fixer-uppers and distressed condos to fully renovated or new construction townhomes, duplexes, or triplexes.
If you've been on the fence about buying or if you thought you missed the boat think again. I'd be happy to discuss your personal situation and help you decide whether or not it makes sense for you to buy in this once-in-a-lifetime market.
Comments(0)