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Tax Credit Ends Soon:

The wildly popular first time home buyer’s tax credit is set to expire in November.  This is a tax credit of $8,000 for anyone that has not owned a home in the last 36 months.  It takes an average of approximately 30 days to close on a mortgage once you find your dream home.  So that basically means that you have until October to put in a contract on a home to take advantage of this great tax credit.

Both existing and new home sales have climbed for the past 4 months and inventories are decreasing.  With 30 year fixed mortgage rates consistently in the mid 5% range for an average conventional mortgage, it seems that all the stars are aligned for a final push in demand for homes.  Don’t assume that you will be able to go back and forth between several homes with low-ball offers.  The market has changed and you have very little time to make sure that you the best of everything: Low rates, $8,000 tax credit, and great selection at fair prices.

Until Next time Here is to your success! Jason Wheeler 925-285-2172

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