Open Letter to First Time Home Buyers in Birmingham and Surrounding Areas

Reblogger Ann Allen Hoover
Real Estate Agent with RE/MAX Advantage South



If you think you have plenty of time to buy a home and take advantage of the $8,000 tax credit, you need to read this article written by Erik Hitzelberger.  He does a great job of explaining why there is not as much time left as you might think.

When you are ready to find a home anywhere in or around Birmingham, I'd love to help you!




Original content by Erik Hitzelberger

Dear Procrastinating First Time Home Buyers:


I know you.  I've seen you in the mall on December 23rd. I've watched you race through town en route to the airport; screeching up to the terminal just in time to prevent your mom from giving up and getting in the cab.  I even saw you run over the neighbor's cat on your way to the post office on April 15th.  (Actually, disregard that last one.  I'm sure it was just a large stick).  You excel when the stakes are high.  You thrive on knowing you'll succeed where mere mortals would stumble.  Your methods are a bit unorthodox, but you always come through at the buzzer.  In most circles, I would be you.

The significant difference here is that I own a house.  For better or worse, I don't have a stake in the $8000 tax credit game.  You do though.  You have the opportunity to change your life for the better and you plan to do so. Tomorrow. 

My only concern is that tomorrow may not be when you think it is.  By now, you know the tax credit expires December 1st.  As this is month's away, I'm sure you've given little thought to actually looking for a house.  There are far more pressing deadlines to be dealt with.  I know you are busy, so I won't take up much more of your time.  But, you need to know...

December 1st is the wrong date.

To be eligible for the credit, you have to take possession by December 1st.  When everything was working well, it took around 30 days to close a loan.  These days, things don't work well very often and it's not going to get better once you and your brethren leave the couch.  Underwriters are scarce and banks aren't about to staff up for the onslaught knowing there is a going to be a huge void immediately afterwards.  It will take at least 45 days to close.  With that in mind,

October 16th is the real drop-dead date.

Reset your internal clock. 



I'd tell you to start now, so you can take advantage of the best deals, but it would be a waste of breath.  So, I'll just say,"Call me when you are ready." 





* * * * *

Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes 

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Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

This reminder is so important.  There are going to be some very unhappy people who miss the deadline.  As the lenders are getting more busy, it is going to be impossible to process all the loans in the pipeline... and those who procrastinate will be at risk of losing out.

Aug 08, 2009 02:03 PM #1
Not a real person
San Diego, CA

I suspect there will be a lot of Realtors, appraisers, and home inspectors who get overworked during those last weeks.

Aug 09, 2009 11:59 AM #2
Sheldon Neal
Bergen County, NJ - RE/MAX Real Estate Limited - Maywood, NJ
That British Agent Bergen County NJ

Ha ! This was well written and a good reblog Ann !

Aug 09, 2009 02:21 PM #3
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Ann - Great post!  It's not only the tax credit that will likely go away; but also these historically low interest rates and affordable prices.  If a buyer can currently buy.  They should be thinking of getting off the dime, and doing so!  Time is running out!

Aug 10, 2009 07:12 AM #4
Jim Valentine
RE/MAX Realty Affiliates - Gardnerville, NV

I love the part of seeing them behind at Christmas.  It says a lot about those who are delaying - nice post.

Aug 15, 2009 01:05 PM #5
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Ann Allen Hoover

CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL
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