WHY IT IS A GOOD TIME TO SELL YOUR HOMEThe $8,000 tax credit is driving more first time buyers into our market every day. Combine this with the lull in 2008 home sales and we are seeing a stronger spring from pent-up demand. As the first time buyers purchase, this allows the move-up buyer to sell and take advantage of this market.
YOU CAN BUY A HOME WITH NO MONEY DOWN
You can still buy a home with no money down if you have VA benefits. Benefits are for full time or retired military. A VA loan there is no PMI to pay and the current loan limits in our area are up to $417,000. With the current opportunities in our housing market you don’t want to miss out.
YOU CAN GET $8,000 FOR BUYING A HOME
If you have not owned a home in the last 3 years you may qualify for a Federal Tax Credit for buying a home. This is real money you don’t have to repay and you can get the money quickly by filing an amended 2008 tax return by October 15th. This program expires on November 30, 2009.
MORTGAGE RATES ARE AT A 62 YEAR LOW
Mortgage rates haven’t been this low in over 62 years. Rates are around 5% on a 30 year fixed mortgage. Mortgage money is available and no one knows how long rates will stay this low. By the time you realize rates are going up you will have missed your opportunity.
ABOUT THE INCREDIBLE HOME BUYING OPPORTUNITY TODAY
For home purchases up to $281,000 you can get a fixed rate mortgage with only 3.5% down payment. You can buy more home today because of a great inventory of affordable homes and historically low interest rates. Remember real estate out performs the stock market.
THAT HOMES SALES ARE UP
In 2008 there were over 27,000 homes sold in the Indianapolis metro area. From February to March 2009 the number of homes SOLD rose 25% and the number of homes under contract rose 39%. In the same time frame the number of new home permits rose 25%.
HOME PRICES ARE AFFORDABLE
Falling home prices, favorable mortgage rates and the $8,000 tax credit are all contributing to phenomenal housing affordability in the Indianapolis metro area. Indianapolis was just ranked as the most affordable major housing market in the country for the 14th consecutive time.
THAT IT IS A GREAT TIME TO BUILD A HOME
With less demand for new homes lumber prices are at the lowest prices in 30 years. Vendors and suppliers are being very competitive resulting in lower cost to the builder. If you are considering building a new home, now is the time. When demand increases the prices will go up radically. For more information contact The Reel Team. Adopted from www.southsidehousingalliance.com
