Fact One: Home Buyer Tax Credit Incentives Expire April 30!
If you are planning to purchase this year, then all economic indicators would suggest that you get a home under contract in the next six weeks to receive the full benefit of the government incentives. This is the second expiration date on these incentives in the past five months, as the federal government extended and expanded the incentives this past November, to now expire this April. To learn more, this short YouTube video prepared by the IRS will keep you in the loop.
Homebuyer Tax Credit–IRS Video
Fact Two: Record Low Interest Rates Are Likely to Rise
Last week’s remarkable interest rates were as low as 4.75% on a 30-year fixed conventional loan. The federal government has created this artificial market by supplying cash to the industry through mortgage-backed securities. This was done beginning in 2008 as a temporary solution to stabilize the real estate market. Now that the market is showing signs of stabilization, the word is that the government will begin retreating and allow the free market to resume. To learn more, you can read this excellent CNBC article.
Fact Three: Homes Are Still Selling – Pricing and Preparation are critical
The spring real estate market is heating up, and Lee Davies Real Estate is off to a record start! While we would like to take much of the credit, the fact is, our sellers do the hard work by preparing their home for the market with our counsel and then pricing their home accurately to generate results. Our comprehensive “Direct Home To Home” Price Reports are a critical piece of this equation. To learn more, this YouTube video will explain how we educate our sellers to price their homes effectively.
