3 reasons to take action TODAY!:
1. As of today there are 61 days to secure a purchase agreement on a property to qualify for the first home buyer program AND as a current home owner the same expiration applies for the home you are planning to move to! When you consider it often takes 45 days of concentrated efforts to find a home – that means now is the time to take action.
2. What about the April 1st expiration of government support lower interest rates? Finding and securing that home NOW would allow you to place a rate lock on today’s low rates. Looking at an FHA mortgage? Processing times are almost certainly going to take longer the closer to April 30th we get. As a result there could be some processing time “back up.” If this is the case it means getting yours at the “front of the line” will be advantageous.
3. Prices in the market may experience a temporary “hardening” in the market the closer to April 30th we get – therefore taking action now makes sense before the market experiences any reason not to give you the best deal out there.
Sellers – thinking of taking advantage of one of the busiest buying markets we’ve seen in 3+ years? Now is the time to act. There IS time to have your home marketed properly to secure a purchase agreement. What’s your risk – it doesn’t sell and you’re still in the same boat you are now but potentially this push has burned through the next 18 months of buyers. What’s your gain? If you are thinking of selling within the next 12 months – now is the time to capture the artificial demand created by the tax credit – including the potential to hold closer to your list price based on the demand between now and April 30th.
Want to customize an action to weigh out your options? Contact us and we’ll work with you to maximize your achieving your goals.