Should You Wait to Buy a Home?
This definitely might be a take some buyers are looking at.
The federal tax credit ends this April 30th and as I described on CNBC, it's going to be Christmas in April.
People in certain areas are flooding the market with offers near or above list price. There are multiple offers out there. There are even homes that should not sell (overpriced and on the market for a year) that are getting traction.
But, maybe you should not join the frenzy no matter what all the real estate agent hype says.
Actually, if you think about it, the number o buyers after 4/30 will drop, the number of places on the market will drop just a bit and as time goes on, the supply will outdo the demand.
This is a simple economic theory....supply and demand.
I can guarantee that you will save more than $8000 on some homes against what you are seeing now.
The anti-argument to that is you get $8000 in cold hard cash and that is true.
But, if you have the money to put down and you are not in a rush....patience will be your virtue.
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