You may be thinking "Oh...I've got plenty of time cash in on the $8,000 Tax Credit!" but I challenge you to read on...
Some facts to consider:
1. You must own the home on November 30th. That's a Monday. Banks aren't open and you can't close on Saturday or Sunday. The Friday before is an iffy time to close since it's right Thanksgiving. Realistically, you should plan to close no later than Wednesday the 25th...AT THE LATEST! And that's assuming you're not heading out of town for Thanksgiving. (WOW...am I really talking about Thanksgiving in July??) Read on.
2. Many home loans are taking 45-60 days to close. In fact, it's kinda rare to have one close on time right now! A buyer really should have the home under contract no later than October 1st to be safe.
3. September: This September has a chance to be a really crazy month in real estate! Think about it: "The Law of Supply & Demand." If a lot of buyers are looking at homes at the same time, there will be more competition for those homes and buyers will lose negotiating ability. Buy in August if you can at all to avoid paying more money the last minute rush! (Note to Sellers: Great time to list your home!)
4. If you plan to be cautious and buy during the month of August and you only have weekends free to look at homes...guess what? Since this weekend is over, YOU HAVE ONLY 10 DAYS TO FIND A HOME!
Click on one of the real estate links on the right side of this blog to begin your home search or contact me today and find out why so many First Time Buyers have said, "Roger's my REALTOR!!"
Don't get caught in a bidding war or lose the home you want! Buy in August!
Keller Williams Realty
Sunday, July 26, 2009
Why First Time Buyers May Only Have 10 Days Left To Buy A Home
Posted by Roger Lundy at 2:20 PM
Labels: Buying Process, Current News, Mortgage
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