It is time to pick out a home! Get your credit and financial situation in order, get pre-approved, and put some rubber on the road. Prices and rates are down, Sellers are more anxious to deal, and now the politicians want to help get you off the couch.
Start your search for the perfect home by searching hundreds of available homes on the MLS.
photo credit: nathan_baron
According to the Wall Street Journal in an article posted February 9, 2009, a proposed tax credit of up to $15,000 for ALL buyers is included in a provision in the Senate version of the stimulus bill. This provision is aimed at those standing by with their hands in their pockets wanting to buy but who are reluctant to do so because of the possibility of further declines in value.
According to the WSJ, "The credit in the Senate provision is nonrefundable, which means that buyers can only claim the credit if they owe income taxes." Still, some believe that the tax credit will boost sales among first-time buyers and others who have been waiting on the side for an opportune time to jump in the market.
Interest rates are at low, attractive levels and that can amount to a significant difference over a 30-year loan's life. Given the huge amount of deficit spending by Congress, interest rates are very likely to increase once home sales catch on again and the economy is back on its feet. This really highlights the urgency.
As I have been saying lately, "One could delay buying until all the moon and stars line up market value-wise only to end up paying higher interest rates for 20-30 years if you wait!." As inflation inevitably kicks in, the late comers could not only be paying higher interest, but higher prices for the home as well.
Do not miss the boat. Get ready for what may be the best buying opportunity since the 1980s! If you're thinking about purchasing a home in Fredericksburg or the Texas Hill Country give us a call today at (830) 997-6123.
If you would like to experience Premier Service with your next real estate transaction, please contact one of our agents directly or give us a call at (830) 997-6123.
To read more Fredericksburg real estate news, analysis & insight, visit The Burg online.
