There is still an opportunity available for most people who are thinking of buying a home to take advantage of several things that are working to increase or leverage your buying power!
The first and most urgent one to consider is the available Tax Credit thats there for the taking.
If you're a first time buyer (one who hasn't owned a home in the last 3 years) you can get up to $8,000 back on your taxes! Money you do not have to pay back!
If you are an existing homeowner, you can get a tax credit as well - up to $6,500!
Mortgage interest rates are super low! Hovering around 5%! Most experts agree that it will go up by the end of the year - how much is anyones guess but I keep hearing numbers around 6% to 6.5% - lowering your buying power!
There is a deadline for the tax credit - you have to have a property under contract by April 30. ***Warning*** That date will be here before you know it!
The property needs to be completely closed on and owned by you by June 30
Keep in mind that if you wait out the market, the tax credit will go away April 30, property values in this area (DFW) will likely be higher (even if its just a little bit), and interest rates will be higher - resulting in a big blow to your buying power!
If you're a potential seller, don't think - "Oh, I'll wait because my property value should go up" Remember that if your value goes up, so will whatever you might be buying and if you're wanting to move up into a bigger home, its value will go up by more actual dollars than your home will - hurting your buying power along with (again) the higher interest rates that have to come!
Don't wait! Contact us to find out more and let us help you take advantage of this great opportunity!
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