This is an Alert for all you 1ST Time Homebuyers out there across the Detroit Metropolitan area! Time is running out for your free tax credit when you buy a home on or before November 31, 2009.
IMPORTANT NOTICE: You must close on your purchase on or before November 31, 2009. Foreclosed homes are beginning to dry up and Short Sales are becoming the best-valued purchase. I might even go so far as to predict that we will see a spike in privately owned homes (yes they still do exist) and short sales. Here’s why:
- Short Sales are becoming more common with today’s market and banks are approving these types of sales more often and more quickly.
- Short sale homes are cared for, in much better condition and priced very well. Would you rather buy a foreclosed home that requires $20,000 – $30,000 in repairs for a $100,000 or buy a short sale home that needs no repairs for possibly $ 100,000 as well? It just takes some time to get acceptance from all the lien holders.
My advice is get in contact with a Realtor® that has experience in all aspects of today’s Real Estate market and is willing to discuss your options for buying you first home. My opinion is this, buying a home with very little or no repairs needed are the best deal going. But also remember Short Sales take time but in the end it will be worth it. Now get out there, start searching and Good Luck!
