Real Estate

 

First Time Home Owners Learn The Five Urgent Reasons to Buy Your Dream Home Now! 

First Time Home Owners This Is Your TIME!
First time home owners please pay attention!

This is probably the best time you are ever going to see in a long while in which ALL of the conditions are perfect for first time home owners.

Certain people, particularly economic pessimists who report the financial news are saying, “Don’t buy now… wait for the market to rebound!”

But those people already own homes and have investments.

As a matter of fact many of them are holding on to properties until the market corrects itself so they can sell at a greater profit.

The fact of the matter is, we’ve been in economic downturns before and we came out. Remember the 1929 Stock Market Crash? Or how about the Reaganomics era when the United Stated fell into the worst recession since the Great Depression?

In each case rebounded and we will rebound in this case. Economic downturn aside, the current market provides idea buying conditions for first home owners. It’s like having everything fall into place and all the stars aligned in your favor. Here’s five urgent reasons for first time home owners to act NOW!

Reason #1 – Due to the economic downturn, its no secret that prices have dropped. In many areas you can find REO properties, foreclosures, pre-foreclosures, short sales and anxious owners who are giving astonishing price cuts to make the deal happen TODAY!

First time home owners who do their homework can expect to purchase a home thirty to forty cents on the dollar. That means, even in a depressed market you still end up walking away with considerable equity after you complete the purchase of your home. They key is doing your homework and buying right.

Reason #2 – Our Federal Government has provided a $8,000 first time home owners tax credit. This tax credit begins with purchases after January the 1st, 2009 through December 1st, 2009 and does not require repayment. You are considered a first time home buyer if you have not had any ownership interest in a home in the three years previous to the day of the 2009 purchase.

What does this tax credit mean? When you file taxes, you'll be able to subtract the amount of the credit from your federal income tax liability. As an example, if you owe $1500 in taxes, with this credit your tax liability will be lowered by $8,000. Which means, instead of paying the $1500 you will get a tax refund of $6,500! This tax credit is equal to 10% of the purchase price of your home up to the amount of $8,000. So essentially you are knocking off another $8,000 from the price of a home; assuming the home was going to be valued at least $80,000.

Reason #3 – Virtually everyone is any anxious to cut a deal, TODAY! This is truly a buyers market for first time home owners in the sense that the competition is fierce for their business. First time home owners are being courted by private owners, real estate agents and brokers, investors, REO department managers and foreclosure specialist.

This gives first-timers a tremendous amount of leverage that they may never see for years to come. Someone once said, “Strike while the iron is hot!” That saying applies to today’s real estate market; it’s time to strike!

Reason #4 – The inventory selection is the best it will be in a long time. There are simply some fantastic homes on the market right now and they are available at spectacular prices. If you go back in time to the years: 1999, 2000, 2001, 2002, 2003, 2004, 2005 and 2006, it was clearly a sellers market.

It was not uncommon to receive dozens of offers on a piece of property. Buyers were fretful because they felt like they had to over bid just to have their offer looked at. In today's market, even ridiculously low-ball offers are being accepted awesome homes.

Reason #5 – Once the market corrects itself you can kiss all of the aforementioned benefits and options goodbye! You can say goodbye to the enormous tax credit. You can say goodbye to the easy to work with sellers. You can say goodbye to phenomenal price cuts and instant equity. You can say goodbye to aggressive loan agents and brokers.

By the time you factor in all the pluses, it is clear to see that for the first time home owners this is the absolute best time to buy in almost 10 years!

Author, Joel Marks of REODr.com

 


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