Buy a House Fast

Have you heard about the new amendment made to the Worker, Home Ownership, and Business Assistance Act of 2009?

Okay so I have good news and not-so-good news.

The good news:

If you or your spouse is a member of the military, from the Foreign Service or from the Intelligence Community, you can qualify for tax credit benefits all the way till April 30, 2011.

 
You’ve got a whole year to look for perfect homes and still get $8000 off as a tax credit if you’re a first time home buyer and $6,500 if you’re a repeat buyer.

The not-so-good news:

It’s only for the Military community and for certain federal employees. The reason why I wouldn’t call this bad news though is because we civilians can also smile, even if it’s ever so slightly. We still have time till tomorrow, April 30, to sign a contract and reach a closing by June 30 2010. If we do that, we can ALSO benefit from a tax credit of $8000.

Sigh! Agreed that writing about fictional characters can be interesting, but it would’ve been so much nicer if my husband was more of a military man! (Hey! Don’t look at me. I’m happy in the Real Estate business.)

But, if you or your spouse belongs to the armed forces, don’t rub your eyes in disbelief. One whole year and $8000 as a tax credit benefit – you can house hunt at your leisure!

Don’t want to waste time? You can start looking right away. And Express Realty Services can definitely be at your service. After selling over 700 houses in the DC Metro Area, I’d definitely say that this company is a trustworthy company you’d like to work with! Just call 1-877-9-EXPRESS (1-877-939-7377), and they’ll find a home that’s just perfect for you.

With 4 days or so left to claim the Home Buyer’s Tax Credit, there is still time to cash in. Are you frustrated because you haven’t found your dream house and are feeling pressured to do so in this short time left? Here is a reality check for you: your first home is unlikely to be either your dream home or the last home you will own. According to the numbers provided by the National Association of Realtors (NAR), you will probably be on the move again in six or seven years. With this in mind, you should aim for a home that you like that will serve you and your family’s needs now and for a few years – not forever. Moreover, you should buy with an eye to move to your next home. Simply stated, you should have an exit strategy.

No one on Earth knows the future, neither yours nor that of the future housing market. With any home you like, you should ask the following questions in anticipation of reselling:

Is the price in line with the median price for the area? If not, your home may be ignored by the very group of people who would be good candidates for it.

How’s the location? People tend to look for good schools, closeness to transportation, and good local governments. If the home you are looking at doesn’t have these things, a large percentage of buyers might be turned off. Likewise, if it is across from a landfill, a single family home between two skyscrapers, or on an eroding hill, selling it may be challenging. You’re thinking of buying the place because you love it; but will lightning strike twice when you need to sell?

Does the home have unusual features that might make it hard to sell? Cut up space, a tiny kitchen, even lack of parking can limit the appeal. If the rooms are painted black, you can change that, but you can’t economically alter the layout of the home!

How have homes in the neighborhood traditionally sold? If you are in a neighborhood where homes have usually sold much slower than comparable properties in nearby neighborhoods, you might have a problem In the future unless something changes drastically. If you are buying a condo, check the turnover and the number of units available now.

If you ask yourself these questions, and come away feeling reasonably confident that the house could be easily resold, the home is a good buy. With your exit strategy in mind, you need to ask yourself if you like the home enough to live in it for a few years.

If your answer is “yes,” run, don’t walk to Express Realty Services. We specialize in getting the job done right and quickly. As the #1 Keller Williams franchise, we can help you have a signed contract by April 30 so act now. Just call us at 888-306-9450 or visit our website to chat with a representative about how to get started.