Still Plenty of Reasons to Buy a New Home Now

Even though the homebuyer tax credit expired on April 30, there may never be a better time to buy a home than today. Many outstanding opportunities still exist, but they may not be around forever.    

You can still take advantage of today’s low interest rates and competitive prices to get a home you may not have been able to purchase just a few years ago. But don’t count on interest rates or prices staying at current levels.

Mortgage rates are sensitive to market conditions, and even a slight increase can push monthly payments beyond a family’s budget. As the country recovers from the recession and people stabilize their financial situations, most econo-mists expect that home prices will begin to increase by 2011.

Those same economists say interest rates must rise sooner rather than later to prevent speculative bubbles.

Oh, and about that tax credit. You may still have an opportunity to take advantage of it, if you’re a qualified member of the military (as many Tampa Bay-area residents are), foreign service and intelligence communities. In that case, you’ve got until April 30, 2011, to sign a contract. For more information, go to www.federalhousingtaxcredit.com.

KIM HANNIGAN
Publisher
kimh@florida-homebuyer.com