As we close the books on 2009 the future for home buyers and sellers seems a little brighter. Below I wanted to mention three good reasons why 2010 will be the time to get involved in buying or selling real estate in Auburn and Opelika.
1. Buyers tax credit! If you are looking to purchase a home in Auburn or Opelika and are a first-time home buyer...now is the time to start the process! In early November 2009 the tax credit for first time buyers was extended. Now if you have a contract signed by April 30, 2010 and close by June 30, 2010 you are eligible for a tax credit of up to $8,000. Also added in the new bill was a provision for home owners that have been in their current address for 5 years or more. These owners are eligible for $6,500. For more info on the tax credit visit: TAX CREDIT INFO.
2. Interest Rates! Mortgage interest rates are very low! Some remember buying their first home with an 18-20% interest rate in the early 80's. Now rates are hovering around 5%. Depending on your credit score and situation you may can even do better. This allows you to have more buying power has your budget can afford more 'home' by paying less interest. Also, there are FHA mortgage plans that allow you to put as little as 3.5% for a down payment. It is very important to work with a mortgage lender that is aware of all the changes that are going into effect on January 1, 2010.
3. Inventory! There is a good supply of homes for sale in Auburn and Opelika. So, if you are looking to purchase you have many choices. Also, this allows you as a buyer to make sure you are getting the best house for you in a certain price range. For sellers it is important to make your home show well and price it ahead of the market to make it most attractive to potential buyers.
There are many other reasons like long term investment value of real estate, pride of home ownership, etc. that make buying or selling real estate a good thing. Leave your comments on what you think about the article and what you think about the real estate market in our area. For more info visit my website: AshleyDMiller.com.
Ashley Miller
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