North Texas Real Estate Blog

For those North Texas real estate home buyers that are still looking or uncertain whether or not this is the time to buy a home, time is running out for the first time homebuyer tax credit. Buying a Keller TX, Roanoke TX, Trophy Club TX, or North Richland Hills TX home has not been as affordable in recent years as it is now. Interest rates are at all time low levels and the need for qualified buyers to take advantage of such great deals that are available is vital to the future of our communities and to property values.

For those North Texas home buyers that are interested in taking advantage of the $8000 tax credit, please note that the sale of the property must be closed by December 1, 2009. For first time home buyers that are looking to purchase a foreclosed home, the complete process from the contract acceptance until the closing of the property can take anywhere from 30 to 45 days, and sometimes longer. In order to meet the deadline for the tax credit, buyers should have negotiated a signed contract at least 45 to 60 days before the tax credit deadline, which would be early or mid October. Lenders and the banks that own these foreclosed properties are anticipating a rush of activity before the December 1 deadline.

As a result of recent changes in the appraisal process and other requirements that lenders must meet, closing delays are more common than in the past. With the abundance of home choices and the competition with other home buyers for well priced homes, buyers should have a sense of urgency to find a home, negotiate a price, and keep on top of all the people involved in the closing of the sale.

If you are looking for a Realtor that is experienced with buying and selling foreclosures, HUD properties, or other real estate transactions, please contact Dave or Betty Warden at 817-706-3291. We would be happy to assist you with the sale or purchase of your home.