I've been watching and reading the news, there's talks to extend the tax credit. That's great news! However, remember, when they extended it the last time (late last year) the rules changed. At first you got $7,500 that you had to pay back over an amount of time, then the revision changed and they gave you, if you were a first time home buyer or haven't owned a home in three years, $8,000!!
Well...... what would be the change, if any, if they decided to extend the credit again? The banks are paying the money back from the stimulus package at a much faster pace than expected. The interest rates are holding steady. But, why take the chance and wait? If you are a first time home buyer, take the time now, and not wait for a hopeful extension that may or may not be approved. The gifted horse's mouth your looking in, take advantage of it, you just don't know what's around the corner.
Don't try and predict the bottom of the market, it will be and, have been on it's way up before you realize it.
Just my two cents from your San Antonio Realtor!
If you want to know if your market has stabilized, stop by www.fabailey.com and sign up!
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