Don't wait until the last minute to buy a Michigan home

By
Real Estate Agent with Real Estate One 6501304423

Normally I don't like to rush people into buying but "I'm saying don't wait until the last minute to buy a Michigan Home.

The reason I am saying this is because of the first time home buyer tax credit deadline.  Last fall right before the deadline, many Michigan home buyers were scrambling to find homes.  Their were many bidding wars.  I had one home we lost that had 15 bids on it and another Southfield home we lost that had 11 bids on it.  Another Westland home we lost had a $46,000 list price that went for $67,000.  Another home we lost by $10,000 to cash buyers.

All my clients ended up getting a home except one.  But many of them bid on 3 homes.  October was a crazy month to try to get a home.  I think home prices edged up during the month of October.

So my advice is if you are a Michigan first time home buyer and want the tax credit get out there looking now.  Don't wait until the last minute.  I think we may see a repeat of bidding wars and slightly higher prices.  If you don't need the home buyer tax credit continue on and take your time.

But don't wait until the last minute to buy a Michigan home if you need the tax credit.  

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Russ Ravary

Real Estate One

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Rainer
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Grace Culver
Michigan Homes Network - home advertising and search - Ferndale, MI
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My brother had to bid on multiple homes before he eventually locked in on one.  He was very frustrated because everytime he found a house that he LOVED he was outbidded by the next guy.

Oct 12, 2010 01:07 PM #1
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