42 Days and Counting
There are 42 days left to secure your home buying tax credits! Here’s another pertinent informational piece to assist you in navigating through the next 42 days.
Many buyers and sellers continue to ask what we, as experts, feel will happen with the market, after the expiration. There are many factors that will impact the rest of the year, but today we will focus on foreclosures. My favorite expert, Steve Harney, looks in detail at the foreclosure market in this article. Foreclosures will continue to drive the selling prices down, as banks start to release their inventory on the open market. This is great news for buyers. For sellers, it means that NOW is the time to maximize your selling price.
To see how Shorewest and I can maximize your selling price, contact me directly. I am committed to serving my buyers and sellers by promoting the truth about the market in a productive and positive manner.
Posted by:
Karen Trepton
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Tagged with first time homebuyer credit |
Congress did extend the first time homebuyer credit but time is running out. Yes you have until April to secure the right home, but beyond finding the right home, don’t let the low interest rates rise before you have time to act. Here is why a small increase in rates can affect your ability to buy that ‘right’ house. Let’s assume that you have your sights on a home for $200,000. You have 5% down or $10,000 saved up. You have calculated that your mortgage payment is $994.57 for a 4.78% interest rate. If the rates rise slightly to 5.5% your payment has just moved to $1,078.80. If your intention is to keep your payment at $994.57 per month your new purchase price is $185,000! The small increase has just cost you $15,000 in purchasing power which could mean the difference between getting the right house, or not buying at all. So before rates go up, and they will, NOW is the time to be out there finding your next dream home. For more information on how to maximize your purchase in a new market call me toll free at 1-888-HEY GLEN
Glenn Hanon
