Ormond Beach Buyers - Are You Ready for April 30?

You probably know the 1st Time Buyer Tax Credit (up to $8,000) and Trade Up Credit (up to $6,500) expire April 30. That means you need to have a signed contract to purchase by that date. If you want to buy but haven't started the process, now is the time to get serious or you will lose out. The credit applies only to the purchase of a new principal residence costing $800,000 or less, and there are income restrictions and other limitations, including a requirement to close the sale before July 1.

Assuming you qualify and want to buy, how can you speed up the process so you can find your home and have an offer accepted in 30 days? Here are some suggestions.

1. Know your Market - start searching online (here's the link on my site to Search the MLS), and get a good Realtor working for you who knows the communities (me). Sign up for the free service that daily will email you listings that meet what you want, and let me know right away if you see one you want to preview. Remember, as a Buyer, you don't pay the commission. My professional experience and expertise are free to you.

2. Talk to a Lender - you must be preapproved, not just prequalified, to meet this deadline. Find how how much house you can buy and if your credit is good enough to get you a rate you can afford.

3. Narrow your Search - Ormond Beach has many communities, which vary widely in price and amenities. Decide on the ones you like the best right away.

4. Make a List of Needs vs. Wants - You can narrow the inventory easily by knowing what features you really have to have (bedrooms, baths, location) against what you'd like (fenced yard, view, family room).

5. Can you fix it up? Are you handy with repairs? Do you want to spend your free time for a few months after you move in fixing up what someone else damaged? If not, then don't look at fixer uppers.

6. Plan ahead - a contract probably won't be accepted overnight. The seller may counter, then you may counter - this takes a few days. Don't wait until April 28 to make your offer. Keep in mind that short sales take much longer, for the bank to approve an offer.

You have time, but let's get started now. If you don't know the communities or neighborhoods of Ormond Beach, or real estate sales information, just call or email. Don't lose this great opportunity for Uncle Sam to help you purchase your new home.

Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
www.daytonabeachscene.com