LAST CALL FOR $8,000 TAX CREDIT

It’s hard to believe that we are into the second half of 2009. What a year it’s been for the Real Estate Industry! Our area is experiencing an increase in sales and recently was named as number 8 on a list of the Top 10 cities of opportunity by Forbes Magazine:

“Best Cities for Finding Opportunity Where are the best cities to live in the United States if you want to work hard and get ahead? Forbes magazine examined the nation’s 40 largest metropolitan statistical areas and based on the number of Forbes' 400 best big companies and 200 best small companies that are headquartered in each, it identified what it considered places with the most opportunity. The magazine says it took this route because the best big companies provide opportunities for those who seek to be employees, and the rate of success of small businesses indicates how the area treats entrepreneurs.”

We have been fortunate to be in the conservative Mid-West, faring better than most US cities not only when it comes to opportunity but also home values.

One of the results of the Stimulus Package was the $8,000 Tax Credit offered to first time home buyer (those not owning a home in the last 3 years).Recently this tax credit was amended to allow the buyer to use the money for closing costs or to add additional down payment (in addition to the required 3.5% minimum down). This has really helped to stimulate sales. To take advantage of this gift a home buyer must act NOW. A home purchase must close by Nov. 30th to qualify; the home buying process has been lengthened by the careful underwriting of a loan and appraisal changes. A serious buyer should be viewing homes now and get under contract no later than September to allow time for any delays in the process. If you’ve been sitting on the fence (or know someone who has) now is the time to jump down! Interest rates are still at record lows, there is lots of inventory to choose from and home prices are lower than they have been in years. We may never see a better scenario in our life time to buy real estate. THIS IS LAST CALL to get in on the free $8,000 gift!