Still a good time to buy, incentive or no incentive.
Today in the Milwaukee Journal Sentinel it reported that housing starts were up in May of this year. Housing starts are the new homes being built. In around the Metro areas of Wisconsin, consisting of Milwaukee, Madison, Green Bay, Appleton, and Racine-Kenosha areas, permits for Single Family Home and duplexes are up 40% from last year. A lot of this increased was do to the fact of the First Time Home Buyer Tax Incentive. http://www.jsonline.com/business/96302444.html
Sales for the rest of the year are predicted to fall off now that the Tax Incentive expired for those that do not have an accepted offer on a home.
Looking at the bigger picture. We saw in increase-not a spiral downwards into a murky abyss. We keep hearing of all the bad news—how much can one take? Keep in mind; interest rates are at an all time low and prices on homes we hope are at the lowest level. Incentive or no incentive, it is a good time to buy. With Congress refueling of the Rural Development program, by far this is the hottest program to help buyers get into a home. There is also the FHA (Federal Housing Administration) loan, WHEDA, VA as well as Fannie Mae and Freddie Mac loans to help buyers get into a home. Guidelines are tight, yes, but if one is qualified he/she can buy a home—I’m still closing loans and yes, people can get into a home.
Not sure on what you can qualify for in a home, call or email me, I’m here to help, 262-696-5041 or krissteinbach@inlanta.com
