With time running out on the hefty federal income-tax, perspective first time home buyers do not want to end up a day late and $8,000 dollars short. Here’s some helpful advice to insure you’re successful in the purchase of your home in Sherwood Oregon or the surrounding areas…
With respect that in “today’s changing market” it can take upwards of 30-45 days to close on a home, this means that perspective buyers who still want to take advantage of the credit are coming down to the wire to meet the deadline as it relates to finding a home, getting an accepted offer, closing on the home and getting your new keys in hand and essentially moving “BY” November 30th, 2009.
With only weeks remaining, interest in the first time home buyer credit program is going to reach its peak. If you’re a first time home buyer looking to buy a home before the credit ends, you’ll need to account for the rush of home buyers that are coming into the market with you.
As active, full-time Realtors serving home buyers and sellers in Sherwood Oregon and the surrounding areas, we’re already seeing more activity. The last-minute-rush will surely bring with it even more transactions, paperwork to process, additional appraisals and home inspections being scheduled and potential pit falls you’ll need to be positioned to avoid.
Furthermore, it’s a good idea to allow yourself some extra time to make a smooth purchase by getting pre-qualified and start shopping for your new home NOW! Keep in mind there are a number of short sales on the market in the first time home buyer criteria that unfortunately take a longer time to close. While we work overtime to insure swift success for our clients, this is not a time to roll the dice – these are homes that new buyers now may need to avoid. With less time on our side and a smaller pool of qualified homes to purchase, you’ll want to get in now while the getting is good. We keep a daily list of pre-screened homes in the greater Portland Metro area (Sherwood example) that are “the most likely” to close in time for the deadline. If you’re not working with a Realtor, contact us for more information, (971) 832-1234.
With that, keep at top of mind your “target date” to find a home and start the loan should be as early as “now” and “no” later than the first week of October. Remember, you need to account for the rush of buyers coming into the market with you. What it really comes down to is this, “if you want $8,000 bucks, it’s decision time right now.”
MARKET FACTS:
- Over $3,500 first time home buyers in Oregon have claimed the credit.
- Nationally, 1.4 million first time home buyers have applied for the credit.
- It’s said that number is expected to grow to just under 2 million by the time that credit expires.
- In Sherwood Oregon there are 50 homes for sale in the first time home buyer criteria – up to $300K
- Of those 50, 26 are a “short sale” – the other 24 are not. See that list here
- The price range not exceeding $275K, 34 homes are for sale. Only 12 are not a short sale.
- The price range not exceeding $250K, 18 homes are for sale. Only 5 of those are not a short sale.
(Criteria covers detached residential homes in Sherwood Oregon for sale. Data provided by RMLS 9/19/2009.)
As the areas real estate leaders, Gardner Team Real Estate simply sells more homes. We’re nearing 50 transactions already this year. Our proven track record and higher level of experience can better guide you through your real estate transaction. Choosing the right Realtor is key to your success – we’re here to help you every step of the way!
Contact Jason H. Gardner / Gardner Team Real Estate today…
(971) 832-1234 | jasongardner@johnlscott.com | www.TheGardnerTeam.net
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