Spread the word.
I came across this re-blog on Kristin Moran's blog (I sit two doors down from her everyday, yet she always discovers great stuff I don't know about). Reading through it I found myself nodding in agreement. It's going to be a close call for many home buyers who sit and wait. I fear for them. Imagine trying to close just as doomsday approaches. Imagine something goes wrong. Imagine your closing is delayed by one day. Imagine losing $8,000 because your loan didn't fund on the correct day. Would you be angry? Of course you would. I would be too.
I fear that there will be many buyers who make the mad dash and I fear that many of them are going to be left empty handed. And when they are, I fear the lawsuits will start flying. If you're thinking about making your move and taking advantage of the First Time Home Buyer Tax Credit, call a Realtor® today and get your plans moving.
Want to take advantage of the First Time Home Buyer Tax Credit in San Antonio, Texas? Give me a call.
Dear Procrastinating First Time Home Buyers:
I know you. I've seen you in the mall on December 23rd. I've watched you race through town en route to the airport; screeching up to the terminal just in time to prevent your mom from giving up and getting in the cab. I even saw you run over the neighbor's cat on your way to the post office on April 15th. (Actually, disregard that last one. I'm sure it was just a large stick). You excel when the stakes are high. You thrive on knowing you'll succeed where mere mortals would stumble. Your methods are a bit unorthodox, but you always come through at the buzzer. In most circles, I would be you.
The significant difference here is that I own a house. For better or worse, I don't have a stake in the $8000 tax credit game. You do though. You have the opportunity to change your life for the better and you plan to do so. Tomorrow.
My only concern is that tomorrow may not be when you think it is. By now, you know the tax credit expires December 1st. As this is month's away, I'm sure you've given little thought to actually looking for a house. There are far more pressing deadlines to be dealt with. I know you are busy, so I won't take up much more of your time. But, you need to know...
December 1st is the wrong date.
To be eligible for the credit, you have to take possession by December 1st. When everything was working well, it took around 30 days to close a loan. These days, things don't work well very often and it's not going to get better once you and your brethren leave the couch. Underwriters are scarce and banks aren't about to staff up for the onslaught knowing there is a going to be a huge void immediately afterwards. It will take at least 45 days to close. With that in mind,
October 16th is the real drop-dead date.
Reset your internal clock.
NOW!!
I'd tell you to start now, so you can take advantage of the best deals, but it would be a waste of breath. So, I'll just say,"Call me when you are ready."
Sincerely,
Erik
* * * * *
Erik Hitzelberger is a licensed REALTOR with RE/MAX Alliance in Louisville. If you need a Louisville Real Estate agent please email me or call 502.921.3989.
I specialize in the following areas of the Metro Louisville Area: Prospect, Middletown, Jeffersontown (J-Town), Fern Creek, Okolona, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley. Click the following links to learn more about Louisville and Bullitt County Real Estate or to Search for Louisville Homes
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All content ©2008-2010 by Matt Stigliano unless otherwise noted.
Matt Stigliano, Realtor® Becker Properties | (210) 646-HOME | www.RErockstar.com
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This blog couldn't be more true.
Any fence sitting first time homebuyers who are thinking they'll wait until prices drop any further, are sadly missing the boat.
The money they think they'll save waiting for that price drop will be lost when interest rates rise and thet tax credit is no longer available.
Matt - Great reminder regarding the importance of the First Time Homebuyer Tax Credit ! Time is of the essence !!! I think one of the problems is that the large rumor that this will be extended perpetuates those folks sitting on the sidelines though.
Matt - Thanks for the reblog. I thought a bit more about your comments today and just wrote a follow-up post. I'd like your thoughts if you get a chance.
Craig - If you combine your comment with Christopher and Stephanie, you get one big über comment. The fact are that with the rumors and people not understanding that this is set to end and when, and how they can use it, etc. - it makes it hard for them to move.
Chistopher and Stephanie - The rumors have been killing so muc over the last year. Rumors of interest rates going lower, extensions of the tax credit, hiking up of the tax credit, tax credit for everyone, and on and on. If we could just stop that, we could probably return to normal a lot faster.
Erik - Heading over to re-read and comment now.