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SearchYear End Rush for Real Estate Market
The year is almost over. Just 6 more weeks and 2010 is here. If you are thinking about buying and closing on a house this year, now is the time to act. This is necessary if you want to get the tax credit with your 2009 tax return. Otherwise you will have to wait a year to get the either $8,000 tax credit or the $6,500 tax credit.
Here is what you need to do:
1) Talk to your mortgage broker and make sure you are pre-approved and provide her with the latest income and financial statements
2) Work with your realtor. Schedule showings on houses and be prepared to make an offer fast.
3) Pre-visit houses and look at them from the outside. Use Google Maps and their satellite view to pre-classify houses.
4) Cut down on time, make a fair offer and be very pro-active. You do not have much time to get the entire process going.
5) Check with your mortgage broker for when the cutoff is to get a closing done this year. Keep in mind there is a fairly big holiday in December + we might see more snow storms that slow down the ability for inspections and appraisal and even showings
Follow these recommendations and be ready to find your new home. Keep in mind the inventory in the $250,000 or lower range is small. I counted a few days ago and there were less than 50 houses on the market in Highlands Ranch. I did leave foreclosures out and only counted those for sale through a realtor. I would avoid “For sale by owner” objects at this point as those will see a slower process when it comes to closing a deal.
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