The clock is just about to run out on you if you are waiting to get into the market for a home.

Time is running out!

That is if you are looking to use the $8,000 First Time Home Buyers Tax Credit offered by the Federal Government. You need to actually own the home by November 30th 2009 to qualify for the tax credit. Will there be a new and improved tax credit? I don’t know nobody knows as of today. What I do know is that inventory of homes that are available to purchase (not short sales or bank owned) quickly is running low. Interest rates are as low as we will realistically see them, prices have bottomed out in Tacoma for homes under $250,000. We are seeing some (not a lot but some) multiple offers on homes that are priced correctly and some homes are actually selling for more than they were listed for.

If you are still on the fence I encourage you to consult with a Realtor to see what your options are. Will you actually qualify for the $8,000 Tax Credit? It depends on your income, the price of the home, and if you have not owned your own home in the past three years. Will you qualify for a mortgage? You need to talk to a mortgage professional to see what programs are available to you. In our current market being pre-approved for a mortgage is the only way to go when shopping for a home. Knowing that you can actually qualify for the home you are looking at is huge. When you go to write your offer the sellers will be much more comfortable knowing you can actually buy their home from them.

Here are your action steps if you want to buy a home in Tacoma by November 30th. 2009 and take advantage of the $8,000 Tax Credit.

• Speak with a Realtor about the $8,000 Tax Credit.
  • I recommend you call me Scott Cowan at (253) 219-1194 if you want to buy in the greater Tacoma area.
• Meet with a lender to get pre-approved for your loan.
  • If you do not have a lender please call and I will give you some recommendations
  • It is vital that you use a lender who can work quickly as we are just about out of time.
• Start looking for your new home.

If you need any assistance please call today. I would be happy to meet with you and discuss your options in our current market. You have an opportunity to take advantage of the market pricing, low interest rates, and a tax credit. You’ve almost waited too long don’t regret not acting.