Delaying a Real Estate Transaction May Increase Costs

HERE’S WHY:

If you are a buyer today you have…

• Lower competition for the best properties
• Healthy inventory of available homes from which to choose
• Excellent interest rates
• Federal home buyer tax credits ranging between $8,000 to $6,500 (depending upon whether you are a first time or repeat buyer)

If you wait to buy:

• Competition increases as buyers enter the market when prices and interest rates rise
• Choices decrease
• Home buyer tax credits expire April 30, 2010

If you are a seller today, you can save money, even if you sell your home for less:

Step #1: Sell your present $200,000 home for 10% less ($180,000)
You get it sold, but receive $20,000 less than expected

Step #2: You purchase your new $300,000 home for 10% less ($270,000)
You pay $30,000 less than expected

Step #3: You saved $30,000 on the new house
You made $20,000 less on the old house
You saved $10,000 by buying and selling now!


Smart investors know that if you wait for signs that we are at the bottom of a market, you will miss the best opportunity to make a good buy.