Much of this year’s real estate push can be attributed to the $8,000 first time homebuyer’s tax credit and other government incentives. The deadline to move into a home and take advantage of this offer is November 31, 2009, unless the deadline is extended, of course.
Like so many of us procrastinators, waiting until the last minute is standard operating procedure. But in this case, those who wait may miss out completely. Here why.
3 Reasons Why First Time Homebuyers Need to Act Fast
- Time to Close: Many don’t understand that about the quickest you can find a home, negotiate the contract, haggle over repairs, wait through the financing process and close on a home is 30 days. And that’s super fast! Most deals take longer with some much longer. Waiting to the last minute is a bad idea for such an important decision.
- Inventory Shortage: Inventory has been a high levels here for some time but as things are picking up these Louisville homes are being sold. Which are the first to go? You got it! The lower priced homes are being bought by these first time homebuyers so that particular portion of inventory is the smallest in our market. At the end of the day, you may not find a house you like enough to buy.
- Financing Dilemmas: Financing can be tricky for those with little or bad credit. Those who haven’t bought a home yet are less likely to have had time to build up their credit. These buyers need to allow for more time, not less, with the purchase of their home.
So the bottom line is… if you are a first time home buyer looking to buy a new Louisville home, you better start right now. Otherwise, there are a large number of reasons that you’ll be missing out— 8,000 reasons to be exact.
If you’d like my help, please contact me at 291-7406.
Bold title there, huh? You might be wondering the reason. Well, I’ll tell you! I attended some Continuing Education today as a part of my real estate license requirements.
I wasn’t too excited about the prospect when I woke up this morning, but Harry Borders did a great job with the 3 hours he was given and I feel wiser for having attended.
The topics are extremely complicated but important as he said experts predict 50% of all real estate transactions 18-months from now will be short sales or similar “distressed” situations. Wow. That’s a huge number!
I’m far from a Short Sale expert but Harry’s class was good for me. I feel somehow healthier and better informed to help my clients and that’s what it’s all about.
I have several blogs already. I have a personal one where I live under an alias and talk about anything and everything that pops into my mind. That place is hardly contains professional material; more, it’s just the fun and amazing things I come across.
Then there’s LouisvilleHomesBlog.com which I started back in 2006 to focus on real estate news and advice for home buyers and sellers. Specifically targeting Louisville, Kentucky, this site gives unbiased information about trends and such without much self promotion at all.
Next comes SpringhurstNeighborhood.com which has an even more narrow focus… the community in which I live. I basically just update this site monthly with data about sold properties. Of course, all active listings for Springhurst can be found on my personal site.
So with all this, why would I need yet another Web site?
What I’m thinking, and feel free to tell me I’m crazy, is that I need a place to tell my stories—my everyday dealings with clients. I’ve had some great clients who keep me up-to-date and appreciate all my hard work. And I’ve had my share of crazies. It’s these kinds of stories that I’ll put on this blog.
Plus! If you have any specific questions, I’ll try to entertain those here as well.
But it’s very informal so please… take your shoes off, grab an ice cold beverage and sit back… we’re all friends here.