Anyone paying attention to the housing market will realize that now is the time to buy rather than rent. For first time home buyers, the Federal government is offering up to $7500 in tax credits. This tax credit must be paid back over the first few years of home ownership, but it is a great incentive if you need assistance for a down payment or to pay closing cost.
Not only this, but the interest rates are at a low that we have not seen in many, many years. With these rates, you can easily buy a home for less than you can rent. To go a little further, there are still places where you can get 97% financing and possibly more.
If this is not enough of an incentive, the housing market in the Raleigh/Durham/Chapel Hill area that many sellers are highly motivated and will be willing to make major concessions to include price and/or terms.
For example, I represented a young couple in their purchase (it will be closing at the end of Sept), and my clients received a number of concessions to include $12,000 off the list price, $6,000 in closing cost and $4,000 for appliances on a home listed just under $300,000. My clients are very happy and are getting a beautiful home; you could be next.
For more information about the benefits of buying a home today, please call or email me as I will be happy to talk with you about it.
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