Your grandparents may have told you the story of the Tortoise and the Hare. While the Hare is speedy and overconfident in his ability to win the race, the Tortoise is slow and deliberate and wins the race. If you’re looking to buy your first home you may be the Hare.
The $8,000 1st Time Buyer Credit is a very tasty carrot indeed. The problem is that to qualify you must OWN (not in the process of buying) your home by Midnight November 30, 2009. This is just 10 weeks away. You may think that there is plenty of time; let’s do the math.
Weeks until $8,000 Credit Expires (Nov 20, 2009) 10 weeks
Less avg time to close on a house after contract -6 weeks
Time to write, negotiate contract -1 weeks
Time lost to Thanksgiving Holiday -1 weeks
Time left to find a home you like 2 Weeks!
Yikes! There is not much time. Ad to the mix that there are many first time buyers that think they still have plenty of time, and the process will go even slower as all these Hares race toward the finish line.
There is still time to win, but you must move quickly. I have closed sales in as little as 30 days and I even have a lender that claims they can close in 10 days. If you are cruising the web looking for homes you need to step up your game. My approach is to assist my clients finding their dream home. I search the MLS daily and send them the hottest, newest listings before they even get out of bed. I also give them the ability to search the MLS as if they were an agent on my team. I maximize their chances of crossing the finish line first and claiming their own tasty carrot.
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