As a professional Realtor who has seen the impact the $8,000 tax credit has had on our local market, the expansion and extension of the tax credit is sure to create a strong market through the winter (at least for certain price ranges). Now move up buyers and first time buyers are handed a financial gift just for doing what people would normally do...purchase a place to live.
I will caution a certain percentage of you. If the time is not right for you to buy a home, don't. The $8,000/$6,500 isn't worth settling on just any home. If your financial future is uncertain proceed with caution (of course you need to be able to qualify for a loan, that's a given), I'm am speaking to those of you on the edge. Life is often uncertain, and there will be a certain amount of risk anytime you buy a home. I want to encourage you to purchase a home for the right reasons.
A good way to know if you are making the right decision would be to ask yourself, if this tax credit wasn't available, would I still buy this house. Please, please, don't rush to buy a home just to qualify for the credit. Make sure that you love the place that you select. There are no gaurantees that your home will appreciate in value by the time you want to sell it. So, buy smart, and buy for the right reasons.
Read the full article from the National Legal and Policy Center (click here).
And like always, let me know if I can help.
Congress Passes, Obama Signs First-Time Homebuyer Tax Credit Extension/Expansion
As a professional Realtor who has seen the impact the $8,000 tax credit has had on our local market, the expansion and extension of the tax credit is sure to create a strong market through the winter (at least for certain price ranges). Now move up buyers and first time buyers are handed a financial gift just for doing what people would normally do...purchase a place to live.
I will caution a certain percentage of you. If the time is not right for you to buy a home, don't. The $8,000/$6,500 isn't worth settling on just any home. If your financial future is uncertain proceed with caution (of course you need to be able to qualify for a loan, that's a given), I'm am speaking to those of you on the edge. Life is often uncertain, and there will be a certain amount of risk anytime you buy a home. I want to encourage you to purchase a home for the right reasons.
A good way to know if you are making the right decision would be to ask yourself, if this tax credit wasn't available, would I still buy this house. Please, please, don't rush to buy a home just to qualify for the credit. Make sure that you love the place that you select. There are no gaurantees that your home will appreciate in value by the time you want to sell it. So, buy smart, and buy for the right reasons.
Read the full article from the National Legal and Policy Center (click here).
And like always, let me know if I can help.
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