Only a few days left here in the housing market to get under contract by October 1 ( to get closed and qualify for the first time homebuyer tax credit).Â So if you can’t get the tax credit, do you still have reason to be in a hurry to buy?Â Well sure you do.Â You never know when the rates will start heading up and they are still low according to this recent report. Rates are down from this time a year ago.Â It is still a buyers market with seller’s and their agents having to be creative to get houses sold.Â Inventory is still plenty, giving sellers plenty of competition.
I can tell you that buyers are sweeping up the deals.Â I just had someone ask to see three homes this morning and all three were under contract.Â Another buyer isn’t moving fast enough and are being beat out by other buyers when the deals are there.Â Don’t think too hard or long if you see something you like.Â Chance are it is catching other buyer’s eyes too.
Rates are lower this week. You should be excited about getting that new home or upgrading. This is one of the best opportunities for buyers. Remember you have until November 30th to take advantage of the First-Time home buyer tax credit. There are a lot of cute houses out there. Feel free to contact me to get on a special free search that give you a comprehensive listing of the areas you are interested in. Things have definitely picked up and the spring Real Estate marketing is moving fast.
“Mortgage Rates Drop Below 5%
Freddie Mac reports a drop in the 30-year fixed mortgage rate to 4.98 percent during the week ended March 19 from 5.03 percent the prior year, marking the lowest rate since 4.96 percent in mid-January. ”