While it’s too early to celebrate the news that the first time home buyer credit that so many people have taken advantage of to get into a new home, the talk of extending the incentive is starting to build.
It appears as if Senators have agreed on the idea of extending the credit, but they haven’t quite nailed down all the logistics of the extension. And while the extension would prolong the $8,000 tax credit enjoyed by first-time home buyers that purchase a new home, it looks as though it might go beyond that to include those that aren’t first-time home buyers.
The new provision of the extension would provide up to $6,500 in assistance to those that have lived in their current residence for at least 5 years.
Again, as of right now most of this is still talk, but as we all know, anytime we can get both political parties in Washington to agree on something, it’s got to be a good sign!
If you’re still in the market to purchase a new home or you’d like to sell your current home, the market is still very warm and there are plenty of homes available for purchase and willing buyers looking to buy.
Contact me and let’s discuss your real estate options!
Filed under Buy Your Dream House, Home Buyers, News Reports by 
If you’ve been sitting on the real estate fence waiting to see where the housing market heads, believe it or not, right now might just be the PERFECT time to buy a new Fort Mill SC home.
Here are 5 reasons why:
1. The governments $8,000 first time home buyers tax credit is set to expire on Dec. 1st. That means you’ve got to actually close on your new home. And because it typically takes at least 30 days to go from contract to close, you need to start taking action RIGHT NOW.
2. Believe it or not, there is some 100% financing programs still available. Now, these programs come with many more requirements and restrictions than similar programs that were available previously, but that doesn’t mean you can’t find them anymore. Just be sure to shop around with lenders as some may offer different programs than others.
3. Everything is on clearance. Home sellers know this is a buyers market because many homes are selling at or below the original purchase price. There are many short sales and foreclosures available in the Fort Mill SC area, which means you can now get twice the home for half the price. There really are some amazing deals available IF you have time on your side and a knowledgeable agent.
4. Interest rates may never be this low again. As the economy improves, interest rates will undoubtedly rise and if you don’t act soon you may miss the opportunity. Don’t be one that says “if I had only…”! The best thing to do is to find one of the many free mortgage calculators on the web and play with the numbers. You will find your mortgage monthly payment goes up much quicker with interest rates than if the house price drops a few thousand
5. Local builder incentives are growing. Because the inventory of homes available is growing, builders are willing to customize new homes for a fraction of what was available in the past. If you can’t find what you’re looking for in the inventory of pre-built home, look at local builders for the many build-to-suit options available.
If you’re looking to purchase a new home in the Fort Mill SC in spite of the current economy, this really is a great time to take action. These five reasons are just a few of the many why right now might be your best time to take action!
Filed under Carolina Real Estate, Fort Mill SC, Home Buyers, Interest Rates by
It appears as if the nationwide housing slide that we’ve experienced for the past 2 years may be coming to an end. Finally.
According to Bloomberg,
“Sales of existing U.S. homes jumped more than forecast in July to the highest level in almost two years. Purchases climbed 7.2 percent to a 5.24 million annual rate, the most since August 2007, the National Association of Realtors said today in Washington. The gain was the biggest since records began in 1999. The median price fell 15 percent.”
As I’ve said all along, the Rock Hill SC and Fort Mill SC housing markets haven’t been hit as badly as other areas of the country, but we’ve certainly felt the reprocutions. Now with the national housing market appearing to rebound, I would expect that we’ll continue to see an increase in existing home sales.
There’s still quite a lot of homes for sale, but the pace at which homes are selling has slowly picked up the past few months. And now with the $8K tax credit coming to it’s end on November 1st many home buyers are scrambling around, trying to find their dream home in order to take advantage of this credit.
So, if you’ve been thinking about selling your home, now’s a GREAT time to put it on the market!
Filed under Buy Your Dream House, Carolina Real Estate, Fort Mill SC, Home Buyers, Home Sellers, Market Trends, News Reports, Rock Hill SC by
