Seven Reasons Why First Time Home Buyers Should Not Procrastinate.
1- Time is running out on the $8000 Cash Tax Credit . It Is only good for homes that have a Closing date before Dec. 1, 2009 .
2- The average closing takes anywhere from 45 days to 3 or 4 months depending whether your Offer is on a Straight Forward Home Purchase, Short Sale or Bank Owned Property.
3- The FHA 3.5% down payment eliminates the high cash down payment you would otherwise require.
4- Programs that allow you to borrow against the $8000 Tax Credit for closing cost are now available.
5- The number of affordable houses is dwindling.
6- Interest Rates could start inching up due to inflation and other factors.
7- The combination of low home prices , low interest rates , low down payment on homes, and the $8000 Tax credit is an unprecedented opportunity for First time buyers, especially renters who want to own their home.
