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Yes the home buyers tax credit was extended but heres why you shouldn't wait till the last minute to purchase!

By
Real Estate Broker/Owner with Apex California Realty

The home buyers tax credit was expanded and extended but here are just some of the reasons you DON'T want to wait until spring to start shopping.

#1. If you wait until spring to start shopping and you find your dream home just before your time runs out you will be under a LOT of stress to get your home closed....and since no one can Guarantee that they can get a home closed in less than 30 days....is it worth the stress to wait?

#2. Interest rates WILL be going up....that's UP....they can't give loans away at these historic low levels forever...

#3. There will be more buyers in the market place as always in the spring...that means you will be competing against more people....people that want the tax credit also....and waited....till the last minute......like you did?

#4. It probably won't be the lenders fault or the Realtors fault or the title companies fault if you don't close on time to get your tax credit....and if it is? You should have started earlier?

#5. Timing the bottom, the lowest interest rate on the planet and the tax credit deadline can be suicidal....do you want to try and time all that or start now and find the home of your dreams and be in with no stress and no worries while everyone else is scrambling to get their home closed so they get their credit?

Regards,

Richard

Website

Posted by

Richard Goates

e-PRO

Eco Broker

http://www.inforedding.com

01251781

Comments (2)

Susan Neal
RE/MAX Gold, Fair Oaks - Fair Oaks, CA
Fair Oaks CA & Sacramento Area Real Estate Broker

HI Richard - Now this is great advice!  I started getting a lot of buyer calls just before the original expiration date, with people wanting to find something fast, get a short escrow, and get the credit, but many of them had no idea what they wanted, nor were they pre-approved for a loan.  All they knew was that they wanted free money!  And they wanted it quickly!  Anyone who wants to take advantage of the credit before the new and final expiration date should start shopping NOW, make sure their loan will be approved, narrow their search, then sign that contract and leave themselves plenty of time for the inevitable glitches in escrow that delay the close.

Nov 30, 2009 02:12 PM
Richard Goates
Apex California Realty - Redding, CA
Broker 01251781

Indeed Susan....if only everyone did what led them to a stress free experience! Instead of what people usually do!!

 

Regards

 

Rick

Nov 30, 2009 02:17 PM