First Time Home Buyer Credit…. 3 Months Left

If you are a current first-time home buyer shopping for real estate looking to take advantage of the $8000 federal tax credit….  your time is becoming limited.  We’ve got until November 31st, 2009 to get these transaction closed to ensure that you are eligible for that tax credit (to be recieved when you file your 2009 tax return).  And with HVCC and the new Truth in Lending disclosure requirements escrows are taking much longer to close.  In helping buyers with purchases of San Diego Condos, I’ve seen a major tightening of the underwriting when it comes to owner occupancy rates and HOA health…  another hurdle for condo buyers.  And this is all after you find the home, get an accepted offer and finally open escrow.  What does this mean?  Make your offers CLEAN and as agressive as possible.  Don’t overbid, but don’t take a chance and offer lower than the max you are willing to pay trying to save a buck.  Get in the game.  Pricing is remaining low (although we have seen slight increases in some submarkets….  many experts feel this is artificial due to end of recession hype and the first-time home buyer incentive).

Questions?  Let me know!

Tara

Tara Steinke : Coldwell Banker Residential : 619-384-6014 : SDRealtor.Tara@gmail.com