Tag: buy now

Buy Now, Real Estate Incentives Abound

There’s still time…

As 2008 is quickly drawing to a close, there are still buyers who are “on the fence” about signing that purchase contract right now.  If you are considering purchasing a home for your personal residence, probably the most important reason to purchase before the end of the year is the ability to file for homestead exemption for the year 2009.  This will provide a substantial tax savings, not only for 2009, but for the entire amount of time you intend to use the property as your personal residence.

In addition, the homestead tax exemption was recently raised to $50,000 per tax year and is now “portable” for those homeowners who would like to move up to a larger home or downsize for retirement.  For additional information, please contact the Bay County Property Appraiser’s Office at http://www.baypa.net.

There are many additional reasons to buy in Bay County even if you miss the December 2008 deadline for homestead purposes:  low interest rates, very affordable housing, a $7,500 tax credit for first time home buyers, and others.  Look for additional information on these great opportunities in the upcoming weeks of 2009.

Have a safe, happy and prosperous new year.

For more information, please contact Sandy at 850-303-1825 or sandythompson10@comcast.net. You can also visit her websites @ http://www.ringthebelles.com and http://www.sandythompsoncondos.com.

Where we are in the current real estate cycle

MarketWatch.com published a great article speaking into why now may be a good time to buy real estate.

The bottom of the market is not a date, but a band of time or season,” Shore says, and therefore what constitutes the bottom for the entire country is meaningless for those looking to buy and sell homes in their own communities. “If you sit on the fence and wait for the absolute best deal, you could end up literally waiting for years. And most likely, your guess on market timing would be wrong. But if you choose to buy now, you will not only be in the driver’s seat during the buying process, you will also reap the gains of price appreciation once you become a home owner,” adds Shore.

Waiting for the right time to buy puts you at risk of missing it and getting caught in a market on the upswing. Plus, for some first-time buyers, owning simply makes better economic sense than renting. In such areas as Los Angeles, rents are getting close or surpassing a mortgage payment. And you don’t receive any tax benefits from paying rent, nor do you accumulate any price appreciation, as you would if you owned a home of your own.

Continue Reading >> >>