Happy Thanksgiving!

 

Wishing you a Happy Thanksgiving!  Thanks for reading my Blog!

10 Reasons to Buy Now

1.  On January 1, 2009, the FHA down payment minimum will increase from 3% to 3.5%.  Lock in your loans now!  You can settle after the 1st of January, as long as your loan is in the system.

2.  Interest rates just dropped dramatically in the last couple of days.  It is the lowest it’s been since 2004!

3.  In the near future, the FHA jumbo loan limit will decrease from $729,000 to approximately $625,000…meaning it will be more expensive to get a higher loan amount.

3.  The holidays typically mean less competition for homes, and buyers can negotiate some great deals.  However, the post-election moves are going to be increasing as the new administration moves in.

4.  Prices are anticipated to go up in the next few months as the post-election moves boost the local market.  Buy low while you still can.

5.  First-time home buyers can take advantage of the $7,500 federal tax credit only until June 30, 2009.

6.  I still know of a 100% financing loan option, which includes buyer’s closing costs (NO down payment and NO closing costs)!  Not many realtors in our area know about this program.  Talk to me before it goes away!

7.  New construction developments are offering more incentives than they ever have before, and have some great financing options, too.

8.  Many sellers are willing to give concessions, such as paying for a buyer’s closing costs, giving money for improvements, and offering creative financing options such as seller-held trusts.

9.  Take advantage of the tax benefits of home ownership.  You can increase your deductions and increase your monthly take-home pay.  You can deduct your loan interest and real estate taxes. 

10.  Stop paying rent and start building equity.  Owning real estate is the key to long-term wealth.

10 Reasons to List Your Home Now

1.  Homes show well during the holidays.  Decorations draw a positive emotional response from most people.

2.  Many people have use it or lose it vacation during the last 2 months of the year.  It’s a great time for them to look at homes.

3.  Many people have to buy by the end of the year for tax purposes.

4.  Although there may not be as many buyers in the market, those that are out are serious.  It only takes one buyer to buy a home!

5.  Good interest rates, good financing programs, limited inventory.  It’s a great time for buyers to buy.

6.  Conversely, in the near future, FHA loan limits will decrease, making it harder to get a higher loan amount with a lower down payment.  Mortgage insurance will increase next year, which will increase the rate of an FHA buyer, which will lower their amount of buying ability. 

7.  If you wait until the spring market, which traditionally begins in January, you will have more competition as more houses will come on the market. 

8.  The longer you wait for more short sales, REOs and foreclosures to settle, the better chance you have of having appraisal issues when you do sell your home.

9.  The end of the year is the biggest transfer time for corporate relocation.

10.  Post-election moves are happening right now in the DC area.  There will be more buyers looking for homes within the next few months.