Happy New Year! Are You Going to Take Advantage of the Tax Credits?

The New Year is here in all of its glory and according to all of the real estate experts the 1st quarter is going to be the time to buy or sell. Why? The main reason is for the tax credit perks that are in effect until April 30, 2010. This is the date that you need to have a contract down on a home. The closing date needs to be on or before June 30, 2010.
Does this sound like something that you want to be a part of? If you are a 1st time home buyer you will receive $8000. approx. on your purchase.
Now for people that have lived in a home for 5 years out of the last 8; you too qualify for $6500. approx. if you buy another home.
In either scenario, don't wait til the month of March to decide to do something. If you are a seller, you need to be putting your home on the market ASAP! This will give you the most time available to get it under contract and have time for you to purchase, all before 4/30/2010.
If you are a buyer, you want to have choices and not be competing for the same home some other buyer is looking at. You also, want to allow time to do inspections and make sure the home you put a contract on doesn't have any issues that would cause you to not go forward...if it is after 4/30...you have now just lost out!
My advice on either, is to begin early! Get your chosen Realtor and get your home ready to go on the market or get out and start house hunting! This 1st quarter is going to be a busy one..more than normal.

Until next time, Becky Alumbaugh, The Diva Team, Reece and Nichols, #18 in the Top 25 Realtors of 2009 KC Business Journal