I had lunch today with a good friend and sometime real estate investor. Its been awhile since we've gotten together, just the two of us, to catch up on life, work, family, etc.
She's always checking out local Jefferson County, West Virginia listings through my website and asked how busy we've been.
Well, I told her, the first part of the year was great! Lots of first time buyers worked with us so they could benefit from the tax credit. However when that little gem went away, it seems lots of buyers went away too!
And having just read Lenn Harley's excellent post MORTGAGE INTEREST RATES - THIS WEEK - JUST WHEN I THOUGHT IT COULDN'T GET ANY BETTER, IT GOT BETTER!! I told her I really didn't understand this phenomenon.
Lenn makes a great point that with interest rates this good, MOST buyers, first time or otherwise, are going to gain a whole lot more over the life of a loan than that little tax credit would have given them ONE TIME ONLY!
So, while you may not get a check from Uncle Sam, you're going to be much better off in the long run.
Come on buyers! Rates are historically low, there are lots of homes to choose from and we're ready to help you find one! As we say out here in the country,
"Make hay while the sun shines!"
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