You know, Dianne and I talk about this a lot, but I think it bears mentioning at this crucial moment when we have so little time before the $8,000. tax credit incentive has timed out (it expires on December 1st… that means that any transaction where there is the intention of taking advantage of this needs to close by November 30th). What is it that Dianne and I harp on so often that comes into play here? I’ll tell you- it’s “affordable homes in Lake Oswego”. You know, the kind that many first time home buyers would be interested in… homes under, let’s say, $350,000… Homes in a great school district, in a community where all types of individuals tend to participate and make their voices heard, where there are farmers markets, art festivals, music in the park, great shops & services, where families are valued and supported with programs and activities specific to those needs… and on & on. Here is a link to the city’s website if you’d like to find out more: http://www.ci.oswego.or.us/
I think that Lake Oswego, as Dianne has pointed out time & time again, is sometimes overlooked by first-time home buyers due to a perception that they just would not be able to afford a home in L.O. Now… each individual circumstance is of course different, but if you can qualify for any number of the great lender programs that I know are out there now, and are looking for a home under $350,000., according to RMLS there happen to be at this moment, today, 53 Detached Homes available in Lake Oswego… and the bottom end is $199,000. In addition, there are 129 Condos & Townhomes available right now under $350,000… and the bottom end there is at $89,800.
If this is sparking some thinking on your part about looking into this idea for yourself, or someone you know, please do not wait to get going. Talk to your Realtor, or give Dianne or myself a call *today* if you are not already working with a Realtor. This is not me pushing here, I am talking about the chance of a lifetime in prices, rates, and this $8,000. tax credit, and this is the moment. Here are a few reasons why:
Now, more than ever, it is important to have a good understanding of the timelines involved in purchasing a home… especially if you want to take advantage of the first-time home buyer tax credit:
Fact: The average timeline from when you find a property until it closes is 30-45 days.
Fact: You will need some time to find the property that you wish to buy. (Some buyers find their home right away, and some need more time.)
Fact: The week before November 30th is Thanksgiving! Many banks and title companies are traditionally closed for the last 3 days of that week.
Fact: November 30th is the Monday following the typical 3 day bank shutdowns.
Fact: There will surely be many, many buyers who will wait until the last minute to start looking for homes. This means that November 30th is sure to be an extremely busy day and many banks and title companies will not be equipped to handle all of the expected volume.
Fact: As more buyers start to frantically hit the market to take advantage of the tax credit, the selection of properties is sure to decrease.
Fact: Waiting too long is a gamble you should not take if you are truly interested. The best strategy is to work with a professional who has a great team and can develop a plan with you to hit the deadline.
Ok, I’ll get off my soapbox now : ) I’ve at least done my part in getting the word out.
Happy house-hunting! Please feel free to give me or Dianne a call if you’d like to get going. We are really enjoying working with as many of you as possible to ensure that you get to take advantage of this great opportunity.