Valuable information to share with buyers and sellers.
According to a recent national housing survey conducted by mortgage finance company Fannie Mae, 64 percent of Americans think now is a good time to buy a home. In fact, 70 percent of those surveyed said they thought buying a home was one of the safest investments available.
What’s more, 65 percent of respondents would prefer to own a home rather than rent, citing safety and the perception that schools are better in neighborhoods where most homes are owned by their residents, as the most popular reasons to buy.
In addition to the stats above, current market conditions make now an ideal time to buy a home. The combination of low interest rates, more affordable home prices and the soon-to-expire homebuyer tax credit are creating a once-in-a-lifetime opportunity.
In particular, the $8,000 tax credit for first-time buyers and the tax credit of up to $6,500 for current homeowners who purchase a new home are hard to resist. But buyers looking for this free money from Uncle Sam must act soon. In order to claim the tax credits, homebuyers must have a binding contract in place by April 30, 2010, and close on the purchase no later than June 30.
