Tax Credit Done! What's the point of buying a home now?

Madison Wisconsin.

If the only reason you wanted to buy a home was to secure $8,000 home buyer's tax credit from Uncle Sam, (Alias Pres. Obama) then you were making the wrong decision anyway. You buy a home for your family to live in and to have safety, shelter, privacy, and of course pride in ownership. Like rent it costs, but you have to have a place to live.

Tax Credit or Home?

If you have missed the deadline for getting the first time home buyer tax credit. Ask yourself:

Do I need the credit, or do I need a place to call my own? It really doesn't matter if you live in the Madison area, Wisconsin (our home city or anywhere else in the US) the premise is the same. It is a good time to buy if you need a home and are stable enough to be there for a few years.

SO WHY NOW?

So why now after the first time home buyer tax credit has expired? Well for one thing, interest rates are still at historical low levels and despite predictions they were going to rise, they have not.

There are still some good or great deals available. Actually, as far as home prices are concerned, you will likely see a drop. This is because the first time home buyer tax credit actually created quite a last minute rush for homes and I am sure people ended up paying more than they would have otherwise.

And now your competition has gone away, you as a buyer could be left with very little competition. So, unless we see a continuation of the spring market, we will likely see a better time to buy than when the tax credit was available. This will please those who were not eligible for the credit.

We also have some move up buyers that just sold to a first time buyer who are now ready to benefit from move up home pricing, read time for the move up buyer! Truth is that here in Madison, Wisconsin,  like anywhere else, we have no real way of predicting how the real estate market will go. We may just continue on an upward trend.

One thing we do know.  Having a top agent will help you navigate the complexities of buying a home. And help you ensure your decision will be the right one for you.

see the original article Real Estate Guy Home Blog