If you thought about waiting to list your home to fix up a few things, paint or get new carpets, etc., don't bother. Why? Many buyers are coming out of the woodwork to take advantage of the $8,000 tax credit (Visit www.FederalHousingTaxCredit.com for details). To a buyer your home may be worth $8,000 more (to them) today than it will be, come May 1, 2010 (the deadline for entering into a Purchase Agreement). Many buyers are much more willing to overlook minor issues with your home simply do to their ability to use their future tax money for any needed repairs.
As of May 1, 2010 (provided the tax credit is not extended once again) future buyers may once again start paying much closer attention to minor details as they may not have cash reserves to cover needed repairs. Once the tax credit goes away buyers will no longer get "Cash Back". With the deadline of April 30, 2010 looming, now is the time to list your home. If your home does not get the activity that you anticipated (with the tax credit) then in that case May 1st may be a great time to consider a price reduction.
Not ready to move... no problem. To qualify for the credit a contract need to be signed by the end of April but the sale does not have to close until the end of June 2010. You can simply set your closing date for late June and buy yourself some extra time. Call your REALTOR today and take advantage of the wave of buyers the industry is seeing.
Comments(0)