You may have heard that the Senate has passed the extension of the first time home buyer tax credit. And so did the House!
How will that affect the housing market going into 2010? It will affect things greatly! Many people that didn’t have their financing together or were just not ready to buy will now have an opportunity to not only buy, but get a tax credit from the government. What a sweet deal to still be in a buyer’s market and get that credit. It won’t be a buyer’s market forever. The market will soon turn and it will be a seller’s market again. So this is the time if you are thinking about buying to take that step. What should you do to get your self ready? First, you should contact a lender and get pre-qualified and choose what your top payment will be. You set the limit right from the get go so you don’t go over your means when you start looking at houses. Stay within your means. What your payment will be is the bottom line, not what the price of the house is. So pick your payment and work from there. Next pick a good realtor that knows what they are doing and likes to work with people. When you pick a good one, you will go back to that realtor the next time you buy or sell and you will refer her to others as well. Another good thing to do is to make a list of what you really would like in a home. What would be your dream home, what could you live with and what could you live without. What area of town do you want to live in? What will work for you? Yes, choose your neighborhood. That will narrow down your search and really help you in your search. Then look at the area you want to live in and see what neighborhoods are in your price range. I suggest that as your realtor sends you listings you drive by and look at them before you even go inside with the realtor. Narrow it down by doing a few drives. Then take bite size pieces and don’t look at more than 5-6 houses in an evening or afternoon. Don’t overwhelm yourself. Last but not least, don’t put too much pressure on yourself. Take little steps in your search, think things through and you will find the house that will become your home.
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