Things to keep in mind if you want $8000 just for buying your first home:
1) It's not too late. But, you need to get a move on it! Generally, you need about 30 days from contract-to-close to purchase a home. You must close by November 30th, 2009. So, as long as you start looking in the next 17 days and use a Realtor who is on top of things and jumps to help you focus in on what you are looking for, you can find that new home and without settling on a home you are not crazy about. Remember- this is $8000 free money... and you have to live somewhere anyway, right?
2) Make sure you use a full-time agent who is a licensed REALTOR, meaning he or she is a member of the National Association of Realtors. It also helps to have a Realtor who is an Accredited Buyer Representative. Only 2% of Realtors across the country hold this coveted designation, which requires experience (certain number of closed transaction) and hours of additional education. (Feel free to call me if you aren't already working with someone or shoot me an email here. )
3) Get pre-approved now with a lender. If you are needing good suggestions of lender names, again, shoot me an email. A lender can assist you by qualifying you first to make sure you are not looking above a comfortable price range. He or she can also show you exactly what your payments would be on a home, and most importantly, sellers are not even looking at offers right now without an accompanying letter from the lender.
4) Make sure you have not owned a home in the past four years and that you fall into the criteria. Certain income levels cannot benefit from the first time homebuyer's tax credit. Click here to take a look at my past blog that has details and links.
5) If you are thinking about selling, jump on it and get your house listed so you can hopefully capitalize on one of these first time homebuyers!
And, remember... don't settle! But, don't hesitate if you see one that you love because the homes in the under $250,000 price range are going under contract quickly. I hope this helps!
