Home buyers who've been waiting for home prices to decrease further may be surprised to know that most industry experts believe that the bottom has arrived. Home owners who need to sell their homes have for the most part adjusted their pricing to sell and combined with Federal Tax incentives and low interest rates, there has never been a better time to buy your first home, or trade your existing home for one that may better suit your family's lifestyle.
That's the good news. The not so good news is that interest rates are trending upward, and Federal Reserve Chairman Ben Bernanke increased the discount rate to banks this past week which may indicate that the Feds desire to affect interest rates through its intervention might be coming to an end.
Home buyer's who wait to enter the market could miss out on the Home buyers tax incentives which are scheduled to expire on June 30th, 2010. Don't think that gives buyers plenty of time to find and purchase a home. Federal rules state that buyers must be under contract on or before April 30th and must close on their new home by June 30th in order to qualify. Buyers could also lose thousands of dollars waiting and watching the housing market as interest rates increase from their present historic lows.
Contact me today to get started on your home search in the Chapel Hill, Durham and Raleigh area before time runs out to take advantage of unprecedented incentives and low, low interest rates.
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