Buyers Who Wait May Lose a Lot
Potential home buyers who delay have a lot to lose.
First-time home buyer and move-up tax credits worth $8,000 and $6,500, respectively, expire April 30. Buyers who qualify get a dollar-for-dollar reduction in taxes or a cash payment if they don't pay enough taxes to cover the credit.
Other factors that should spur buyers:
Low mortgage rates. If the Federal Reserve stops buying mortgage-backed securities at the end of March, 30-year rates will almost certainly rise to more than 6 percent.
Rising prices. About 30 percent of markets are already experiencing price increases. Prices are falling in 12 percent of markets, says Fiserv (but that only helps if you want to live there).
Source: Money Magazine, Beth Braverman (03/02/2010)
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Alpharetta, GA
Home Design and Real Estate
Very true Melanie! Everyone is running out of time for this historical deal.
Mar 07, 2010 10:05 PM
RE/MAX Executive Realty - Hopkinton, MA
The McBride Team
The pressure is on to find that right home and get under contract. You are right. Time is running out.
Mar 07, 2010 10:05 PM
Maxus Realty Group of Samson Properties - Clarksburg, MD
301-246-0001 Serving Maryland, DC and Northern VA
You maybe right.. .mortgage interest is expected to rise at the end of the year
Mar 07, 2010 10:07 PM
Ocala, FL
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