Did you miss it? Your Sweetheart would have remembered getting that new home for Valentine's Day forever. There is still time to create that memory at interest rates, prices and incentives that may not be seen again for years.
The Yamhill Valley is holding its own as the market picks up in light of passage of the Stimulus Bill by Congress. Once the final bill lands on President Obama's desk for signature the race will be on. More and more buyers will be out to take advantage of the tax credits for first-time home buyers, loan supports and many other incentives that will be available.
Buyers who have been unable to qualify for loans recently will soon be able to go forward with the help of the government. Philosophy aside, if you have a home to sell or are looking to buy your opportunity to do either or both is upcoming. The latest word on the tax credit is $8,000 to be applied at closing for homes purchased by first-time homebuyers until November, 2009
Now is the time to start shopping. Your first stop should be a mortgage company to obtain a prequalification letter to have in hand. Most sellers are requiring prequalification before tying up their properties in negotiations. Offers on foreclosure properties are automatically rejected without them.
Your second stop should be with a Realtor® in the area of interest to you. Local Realtors® know their market and can be your best source of information, particularly if they are members of the area Multiple Listing Service and can represent you on listings by any affiliated company. Your agent can also recommend a reliable lender if you happen to miss that first step!
Sellers, put your homes on the market now and help make someone's belated Valentine, St. Patrick's Day, or Just Because Day a special one!