Only 25 Days Left For the $8,000 First Time Buyers Tax Credit!!
If you have been following the first time home buyer tax credit you know by now that in order to get it you have to be in contract by April 30 and close by the end of June. The good news is that there is still plenty of time!
The even BETTER news is that if you are looking for your first apartment, there is no better time to buy than right now! Prices are down to levels not seen in years, rates are still low, and you have $8k as a bonus. Did you know that in the Bronxville PO/Yonkers market (10708 zip code) prices have declined roughly 25% from the highs? That is a big savings for you!. Right now if you need an affordable apartment, there are over 60 available priced between $100k and $200k, which includes about 20 two bedrooms!
Over the next two weeks Realtors are anticipating a “bubble” as buyers finally realize that their time is up if they want to take advantage of the tax credit. While there is talk of extending it, so far nothing concrete has happened in Washington, and frankly I do not think anything will come of it. I think Congress has tired of bailouts in general.
The key to taking advantage of the credit in this short term window is focus, and frankly, good financials. You have to have at least a good sense of what you want, and you need to have good credit. If you do, a Corespondent Lender can get you the financing you need at a competitive rate and get you closed in time. Ask me about this.
If you are ready to go, please email me or give me a call.
914-588-5004
